ISKCON Chapter 11 Ballot Update
Posted April 8, 2005
All claimants in the ISKCON Chapter 11 case were recently mailed a voting packet which contains a CD, ballot and release form. To vote on the Reorganization Plan, a ballot needs to be filled out and returned in the enclosed envelope by April 29, 2005, after which all of the votes will be tallied and reported to the court.
If you filed a Proof of Claim but have not received your packet, send an email to firstname.lastname@example.org and include your full legal name, Krishna name, current mailing address and a telephone contact number. Compensation can only be paid to those who have a valid Proof of Claim on file with the court.
Should you choose to accept the Plan, check the box provided on the ballot. Class 5A treatment is provided under the Plan for those claimants who are plaintiffs in the Children of ISKCON case in Texas. If you are not a plaintiff in that Texas case, your choice is to accept Class 4 or Class 5 treatment under the Plan.
You may want to consider Class 4 treatment if your matrix score (which is printed on a white label on the last page of the ballot) is low or if you prefer to receive a fast one-time reduced compensation payment. Most claimants, however, will receive the highest level of compensation available for their particular case by checking the box for Class 5 treatment.
Whatever your choice, to maximize the amount of compensation for your particular case you will also need to sign, date and return the enclosed seven page Release. That Release contains a list of the Debtors and those legal entities and persons who contributed to the compensation fund. No known perpetrators are included in the Release.
Those who dispute their matrix score can either litigate their case or have the matter decided by a neutral, professional arbiter referred to as a Special Master. However, since any litigation award would be converted back into matrix points, there is no financial incentive to avoid having a disputed case decided by the Special Master.
The claims matrix score is based on information supplied by each claimant. However, many claimants provided only sketchy information in their Proof of Claim, and others never filled out a Request for Additional Information (RAI) form. If you feel that your matrix points do not accurately reflect your Gurukula experience, then also fill out the RAI and send it in as soon as possible. Send your request for a digital or hard copy RAI form to email@example.com.
After the ballots are counted and reported to the court, a hearing on Plan confirmation will then take place in May of 2005, after which initial compensation payments would start in September of 2005.
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