SEC v. Pacific West Capital Group, Inc., et al

Who is the Receiver? Why was there a Receiver appointed?
Thomas C. Hebrank was appointed by the Federal District Court on February 16, 2018. The Receiver was appointed after a complaint was filed by the Securities and Exchange Commission against Pacific West Capital Group, Inc. (“Pacific West”); Andrew B. Calhoun IV; PWCG Trust, et al. Your life insurance investment interest was created by PWCG, and is one of the subjects of the litigation between the SEC and PWCG.

Who can I talk to about my investment?
You can periodically visit the Receiver’s website for additional updates as far as the case, Receiver’s Reports and other legal filings (ethreeadvisors.com/project/sec-v-pacific-west-capital-group-inc-et-al/). The Receiver and his staff are happy to take your questions, however to keep expenses low we ask that you check the FAQ or website first. Please direct inquiries to the Receiver to pwcg@ethreeadvisors.com.

Do I still need to make premium call, administrative fee or other payments?

The Receiver has suspended the collection of both investor premium calls and shortfall payments, as well as the $200 or other administrative fees.

Do I still own interests in specific policies?
The Court has approved the “pooling” of all investor policy interests meaning that all premium payments and all policy maturities are pooled together for the benefit of all of the investors. Once sufficient surplus funds become available, which is expected to occur in approximately five to seven years (based on current projections), the Receiver will propose that distributions be made to investors based on total amounts contributed by investors (including cash calls). It is important to understand that, due to the insufficiency of cash reserves set up by PWCG, if the reserves and death benefits for the policies were not pooled, and the Receiver was unable to borrow funds to meet anticipated cash needs over the next few years, the vast majority of the policies would lapse, meaning investors would recover little or nothing. Therefore, the pooling and anticipated borrowing is critical to maximizing the recovery from the policies for investors.

Will the Receiver be collecting the Final Judgments against defendants Pacific West Capital Group, Inc.; Andrew B. Calhoun IV; and Andrew Calhoun Jr.?
Copies of the Final Judgments against Andrew B. Calhoun IV, Andrew Calhoun, Jr. and Pacific West Capital Group, Inc. can be found at the below links under Court Filings. These Final Judgments were entered in favor of the Securities and Exchange Commission on June 15, 2018 and June 26, 2018.

The SEC is responsible for collecting each of these Judgments. The Receiver will not engage in direct collection activities with regard to these Judgments. It should be noted that if the SEC is successful in recovering money from these Defendants, it is possible that the recovered funds will be turned over to the Receiver. In other words, in the normal course of a federal equity receivership, the SEC will turn over funds that are collected on judgments to the Receiver for distribution to the investors who were victims of the underlying wrongdoing. In the meantime, the Receiver will continue his work pursuant to the Court’s orders to maximize the recovery and distribution to investors in connection with the PWCG Trust.

Initial Investor Notification Letter

• 02/16/2018 – Judgment as to Defendant PWCG Trust/Appointment of Receiver
• Receiver’s Ex Parte Motion re: Unfunded Insurance Premiums
  1. 03/01/2018 – Receiver’s Ex Parte Motion re: Unfunded Insurance Premiums
  2. 03/01/2018 – Hebrank Declaration re: Ex Parte Motion on Unfunded Insurance Premiums
  3. 03/02/2018 – Order Approving Receiver’s Ex Parte Funding Motion
• 03/13/2018 – Receiver’s Motion for Order in Aid of Receivership
  1. 03/13/2018 – SEC’s Response to Receiver’s Motion
  2. 04/10/2018 – Order Approving Receiver’s Motion for Aid of Receivership
• 05/02/2018 – Receiver’s Motion to Engage Portfolio Mgmt and Valuation Consultant; and Use PWCG Trust Reserves to Cover Premium Payments
  1. 05/10/2018 – BroadRiver’s Response to Motion
  2. 05/14/2018 – SEC’s Response to Motion
  3. 05/10/2018 – Mills Potoczak Response to Motion
  4. 05/17/2018 – Receiver’s Response to Replies on Motion
  5. 05/29/2018 – Order Approving Receiver’s Motion
  6. 10/04/2018 – Motion to Extend Receiver’s Authority to Use Existing Reserves for Premium Payments for 30 Days
  7. 10/11/2018 – SEC’s Response to Receiver’s Motion
  8. 10/29/2018 – Order Granting Motion to Extend Deadline
• 05/21/2018 – Receiver’s 1st Interim Report
• 06/15/2018 – Final Judgments Against Defendants
  1. 06/15/2018 – Final Judgment Against Calhoun
  2. 06/15/2018 – Final Judgment Against PWC
  3. 06/26/2018 – Final Judgment Against Calhoun Jr.
• Fee Applications #1
  1. 08/14/2018 – Receiver’s 1st Fee Application
  2. 08/14/2018 – Allen Matkin’s 1st Fee Application
  3. 08/15/2018 – Mills Potoczak’s 1st Fee Application
  4. 09/14/2018 – Order Granting Receiver’s 1st Fee Application for Fee Payment
  5. 09/14/2018 – Order Granting 1st Interim Application to Allen Matkin for Fee Payment
  6. 09/14/2018 – Order Granting 1st Interim Application to Mills Potoczak for Fee Payment
• 09/13/2018 – Receiver’s 2nd Interim Report
• Fee Applications #2
  1. 10/19/2018 – Receiver’s 2nd Fee Application
  2. 10/19/2018 – Allen Matkin’s 2nd Fee Application
  3. 10/19/2018 – Mills Potoczak’s 2nd Fee Application
  4. 10/25/2018 – SEC’s Non-Opposition to Fee Apps
  5. 11/06/2018 – Order Granting Receiver’s 2nd Fee Application for Fee Payment
  6. 11/06/2018 – Order Granting 2nd Interim Application to Allen Matkin for Fee Payment
  7. 11/06/2018 – Order Granting 2nd Interim Application to Mills Potoczak for Fee Payment
• 11/15/2018 – Receiver’s Motion re: PWCG Portfolio Mgmt Going Forward
  1. 11/21/2018 – SEC’s Non-Opposition to Receiver’s Motion
  2. 12/07/2018 – Order Granting Receiver’s Motion for PWCG Portfolio Mgmt
• 12/11/2018 – Receiver’s Third Interim Report

• Fee Applications #3
  1. 02/04/2019 – Receiver’s 3rd Fee Application
  2. 02/04/2019 – Allen Matkin’s 3rd Fee Application
  3. 02/05/2019 – Mills Potoczak’s 3rd Fee Application
  4. 02/19/2019 – Order Granting Receiver’s 3rd Fee Application for Fee Payment
  5. 02/19/2019 – Order Granting 3rd Interim Application to Allen Matkin for Fee Payment
  6. 02/19/2019 – Order Granting 3rd Interim Application to Mills Potoczak for Fee Payment
• 02/28/2019 – Receiver’s Fourth Interim Report
• Fee Applications #4
  1. 03/25/2019 – Receiver’s 4th Fee Application
  2. 03/25/2019 – Allen Matkin’s 4th Fee Application
  3. 03/25/2019 – Mills Potoczak’s 4th Fee Application
  4. 04/4/2019 – SEC’s Non-Opposition to Fee Applications
  5. 04/11/2019 – Order Granting Receiver’s 4th Fee Application for Fee Payment
  6. 04/11/2019 – Order Granting 4th Interim Application to Allen Matkin for Fee Payment
  7. 04/11/2019 – Order Granting 4th Interim Application to Mills Potoczak for Fee Payment
• 05/22/2019 – Receiver’s Fifth Interim Report
• Fee Applications #5
  1. 07/18/2019 – Receiver’s 5th Fee Application
  2. 07/18/2019 – Allen Matkin’s 5th Fee Application
  3. 07/19/2019 – Mills Potoczak’s 5th Fee Application
  4. 08/09/2019 – Order Granting Receiver’s 5th Fee Application for Fee Payment
  5. 08/09/2019 – Order Granting 5th Interim Application to Allen Matkin for Fee Payment
  6. 08/09/2019 – Order Granting 5th Interim Application to Mills Potoczak for Fee Payment
• 08/28/2019 – Receiver’s Sixth Interim Report
• Fee Applications #6
  1. 11/22/2019 – Receiver’s 6th Fee Application
  2. 11/22/2019 – Allen Matkin’s 6th Fee Application
  3. 11/22/2019 – Mills Potoczak’s 6th Fee Application
  4. 01/15/2020 – Order Granting Receiver’s 6th Fee Application for Fee Payment
  5. 01/15/2020 – Order Granting 6th Interim Application to Allen Matkin for Fee Payment
  6. 01/31/2020 – Order Granting 6th Interim Application to Mills Potoczak for Fee Payment

• Fee Applications #6
  1. 11/22/2019 – Receiver’s 6th Fee Application
  2. 11/22/2019 – Allen Matkin’s 6th Fee Application
  3. 11/22/2019 – Mills Potoczak’s 6th Fee Application
  4. 01/15/2020 – Order Granting Receiver’s 6th Fee Application for Fee Payment
  5. 01/15/2020 – Order Granting 6th Interim Application to Allen Matkin for Fee Payment
  6. 01/31/2020 – Order Granting 6th Interim Application to Mills Potoczak for Fee Payment
• 01/07/2020 – Receiver’s Seventh Interim Report
• 01/10/2020 – Receiver’s Motion for Investor Claims Procedure
  1. Order Granting Receiver’s Claims Procedure Motion
• Fee Applications #7
  1. 02/04/2020 – Receiver’s 7th Fee Application
  2. 02/04/2020 – Allen Matkin’s 7th Fee Application
  3. 02/05/2020 – Mills Potoczak’s 7th Fee Application
  4. 03/09/2020 – Order Granting Receiver’s 7th Fee Application for Fee Payment
  5. 03/09/2020 – Order Granting 7th Interim Application to Allen Matkin for Fee Payment
  6. 03/10/2020 – Order Granting 7th Interim Application to Mills Potoczak for Fee Payment
• Stipulation for Substitution of PWCG Trustee
• 03/12/2020 – Receiver’s 8th Interim Report
• Fee Applications #8
  1. 04/15/2020 – Receiver’s 8th Fee Application
  2. 04/15/2020 – Allen Matkins 8th Fee Application
  3. 04/15/2020 – Duffy’s 1st Fee Applications
  4. 04/17/2020 – Mills Potoczak 8th Fee Application
  5. 05/19/2020 – Order Granting Receiver’s 8th Fee Application for Fee Payment
  6. 05/19/2020 – Order Granting 8th Interim Application to Allen Matkin for Fee Payment
  7. 05/19/2020 – Order Granting 8th Interim Application to Mills Potoczak for Fee Payment
  8. 06/03/2020 – Order Granting Duffy’s 1st Fee Application
• 05/05/2020 – Receiver’s Motion to Pursue Claims Against Mills Potoczak
  1. 07/31/2020 – Order Approving Motion to Pursue Claims Against Mills Potoczak
• 06/02/2020 – Receiver’s 9th Interim Report
• Fee Applications #9
  1. 07/16/2020 – Receiver’s 9th Fee Application
  2. 07/16/2020 – Allen Matkins 9th Fee Application
  3. 07/20/2020 – Mills Potoczak’s 9th Fee Application
  4. 08/12/2020 – Order Granting Receiver’s 9th Fee Application for Fee Payment
  5. 08/12/2020 – Order Granting 9th Interim Application to Allen Matkin for Fee Payment
  6. 08/12/2020 – Order Granting 9th Interim Application to Mills Potoczak for Fee Payment
• 09/22/2020 – Receiver’s 10th Interim Report
• Fee Applications #10
  1. 10/19/2020 – Receiver’s 10th Fee Application
  2. 10/19/2020 – Allen Matkins 10th Fee Application
  3. 10/20/2020 – Mills Potoczak’s 10th Fee Application
  4. 11/25/2020 – Order Granting Receiver’s 10th Fee Application for Fee Payment
  5. 11/25/2020 – Order Granting 10th Interim Application to Allen Matkin for Fee Payment
  6. 11/25/2020 – Order Granting 10th Interim Application to Mills Potoczak for Fee Payment
• Receiver’s Motion Requesting 1) Approval of Allowed Claims; 2) Disputed Claim Resolution; 3) Approving Distribution Plan; and 4) Authorizing Interim Distribution
  1. 12/28/2020 – Receiver’s Reply to Oppositions
  2. 01/28/2021 – Order Approving Allowed Claims

• Receiver’s Motion Requesting 1) Approval of Allowed Claims; 2) Disputed Claim Resolution; 3) Approving Distribution Plan; and 4) Authorizing Interim Distribution
  1. 12/28/2020 – Receiver’s Reply to Oppositions
  2. 01/28/2021 – Order Approving Allowed Claims
• Investor Profit Clawback Settlements
• 01/14/2021 – Receiver’s 11th Interim Report
• Fee Applications #11
  1. 01/21/2021 – Receiver’s 11th Fee Application
  2. 01/21/2021 – Allen Matkins 11th Fee Application
  3. 01/21/2021 – Mills Potoczak’s 11th Fee Application
  4. 04/07/2021 – Order Granting Receiver’s 11th Fee Application for Fee Payment
  5. 04/07/2021 – Order Granting 11th Interim Application to Allen Matkin for Fee Payment
  6. 04/07/2021 – Order Granting 11th Interim Application to Mills Potoczak for Fee Payment
• 03/08/2021 – Receiver’s 12th Interim Report
• Fee Applications #12
  1. 04/05/2021 – Receiver’s 12th Fee Application
  2. 04/05/2021 – Allen Matkins 12th Fee Application
  3. 04/05/2021 – Duffy’s 2nd Fee Application
  4. 04/05/2021 – Notice of Hearing for 12th Fee Application
  5. 05/03/2021 – Order Granting Receiver’s 12th Fee Application for Fee Payment
  6. 05/05/2021 – Order Granting 12th Fee Application to Allen Matkin for Fee Payment
  7. 05/05/2021 – Order Granting 12th Fee Application to Mills Potoczak for Fee Payment
• 05/13/2021 – Receiver’s 13th Interim Report
• Fee Applications #13
  1. 07/14/2021 – Receiver’s 13th Fee Application
  2. 07/14/2021 – Allen Matkins 13th Fee Application
  3. 08/17/2021 – Order Granting Receiver’s 13th Fee Application for Fee Payment
  4. 08/17/2021 – Order Granting 13th Fee Application to Allen Matkin for Fee Payment
• 08/05/2021 – Receiver’s 14th Interim Report
• Fee Applications #14
  1. 09/13/2021 – Receiver’s 14th Fee Application
  2. 09/13/2021 – Allen Matkins 14th Fee Application
  3. 10/19/2021 – Order Granting Receiver’s 14th Fee Application for Fee Payment
  4. 10/19/2021 – Order Granting 14th Fee Application to Allen Matkin for Fee Payment
• 11/12/2021 – Receiver’s 15th Interim Report

• Fee Applications #15
  1. 01/12/2022 – Receiver’s 15th Fee Application
  2. 01/12/2022 – Allen Matkins 15th Fee Application
  3. 04/16/2022 – Order Granting Receiver’s 15th Fee Application for Fee Payment
  4. 04/16/2022 – Order Granting 15th Fee Application to Allen Matkin for Fee Payment
• 01/28/2022 – Receiver’s 16th Interim Report
• Fee Applications #16
  1. 03/16/2022 – Receiver’s 16th Fee Application
  2. 03/16/2022 – Allen Matkins 16th Fee Application
  3. 03/16/2022 – Duffy’s 3rd Fee Application
  4. 03/16/2022 – Notice of Hearing for 16th and 3rd Fee Applications
  5. 04/14/2022 – Order Granting Receiver’s 16th Fee Application for Fee Payment
  6. 04/14/2022 – Order Granting 16th Fee Application to Allen Matkin for Fee Payment
  7. 04/14/2022 – Order Granting Duffy’s 3rd Interim Fee Application
• 05/17/2022 – Receiver’s 17th Interim Report
• Fee Applications #17
  1. 08/08/2022 – Receiver’s 17th Fee Application
  2. 08/08/2022 – Allen Matkins 17th Fee Application
  3. 08/08/2022 – Duffy’s 4th Fee Application
  4. 10/24/2022 – Order Granting 17th Interim Fee Applications
• 09/06/2022 – Receiver’s 18th Interim Report
• Fee Applications #18
  1. 09/06/2022 – Receiver’s 18th Fee Application
  2. 09/06/2022 – Allen Matkins 18th Fee Application
  3. 10/24/2022 – Order Granting 18th Interim Fee Applications
• 11/10/2022 – Receiver’s 19th Interim Report

• Fee Applications #19
  1. 01/19/2023 – Receiver’s 19th Fee Application
  2. 01/19/2023 – Allen Matkins 19th Fee Application
  3. 02/13/2023 – Orders Granting 19th Interim Fee Applications
• 02/21/2022 – Receiver’s 20th Interim Report
• Fee Applications #20
  1. 03/21/2023 – Receiver’s 20th Fee Application
  2. 03/21/2023 – Allen Matkins 20th Fee Application
  3. 05/04/2023 – Orders Granting Receiver’s 20th Interim Fee Applications
  4. 05/04/2023 – Orders Granting Allen Matkins 20th Interim Fee Applications
• 05/18/2023 – Receiver’s 21st Interim Report and Response to Minute Order

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