APS Receivership

Questions for the Receiver?

Send them to:  info@apsreceiver.com

Court Date: December 2, 2014 at 2:30 pm

The court will hold a hearing, open to the public, to address concerns raised by APS clients and creditors submitted in response to the Notice to APS Clients and Creditors.  The hearing will be held at United States Federal Courthouse in Salt Lake City, UT.

 

November 21, 2014

The Receiver must provide a comprehensive written response to all the comments received by APS clients and creditors. 

 

November 4, 2014

The Receiver will collect all client and creditor responses received, sort them by subject matter, and present a single filing to the court.  This filing will be in addition to the submission of all comments received in their original form. 

 

October 20, 2014

Client and creditor comments to the Proposed Plan of Liquidation must be received by the Receiver by October 20, 2014.  Responses must be received in writing.  These responses will be submitted to the court in their original form.  A copy of the form is posted on the "Documents" link as APS Client/Creditor Response to Proposed Plan of Liquidation.  

 

September 19, 2014

The court ordered the Receiver to provide a Notice to APS Clients and Receivers of the Proposed Plan of Liquidation.  Clients should have received a copy of the Notice to APS Clients and Receivers, the Proposed Plan of Liquidation, and a form on which to submit comments by both mail and e-mail.  The Receiver is inviting comments on the Proposed Plan of Liquidation.  The court has ordered that all responses to the Proposed Plan of Liquidation be received by the Receiver in writing no later than October 20, 2014All responses received by the Receiver will be submitted to the court in their original form.  The forms are also available under the documents link on this website.

 

Court Date: September 11, 2014 at 2:00 pm

In Camera Hearing re: MOTION First Application for Interim Compensation of Receiver and Professionals for Services Rendered April 25, 2014 Through June 30, 2014 , [147] Second MOTION for Release of Funds Portion of Revenues and Assets of American Pension Services, Inc. for Payment of Attorney Fees, [143] DECLARATION of Diane A. Thompson filed by Securities and Exchange Commission


Court Date: September 12, 2014 at 9:30 am

MOTION Proposed Plan of Liquidation (The court will discuss means for providing notice of the plan and the time frame for response to such notice MOTION First Application for Interim Compensation of Receiver and Professionals for Services Rendered April 25, 2014 Through June 30, 2014 , [147] Second MOTION for Release of Funds Portion of Revenues and Assets of American Pension Services, Inc. for Payment of Attorney Fees, [143] DECLARATION of Diane A. Thompson filed by Securities and Exchange Commission

AUGUST 22, 2014

 

On August 22, the Receiver filed a proposed Liquidation Plan with the Court, a copy of which is below. The Receiver has also requested a scheduling conference with the Court in order to set a timetable for receiving responses in support and opposition to the Plan. A copy of the request for scheduling conference is also posted below. We will post the date of the scheduling conference as soon as it is set by the Court. All APS Clients will have an opportunity to submit to the Receiver responses to the Plan. The Receiver will collect and categorize all responses and submit them to the Court as directed by the Court.


Click here for Receiver's Proposed Plan of Liquidation or view the documents link.

Click here for Receiver's Request for Scheduling Conference.

Click here for Exhibit A to the Receiver's Request for Scheduling Conference.

JULY 23, 2014

 

On July 23, 2014, the Court considered and ruled on the following:

 

Motion for Authorization to Submit Liquidation Plan on August 22, 2014 filed by the Receiver. The Court granted the Motion, and the Receiver will submit a Liquidation Plan on or before August 22, 2014.

 

Motion for Preliminary Injunction filed by the Securities and Exchange Commission. The Court granted the Motion and issued a Preliminary Injunction, effective immediately.

 

Motion to Dissolve Temporary Restraining Order and Suspend or Dissolve Order Appointing Receiver filed by Curtis DeYoung. The Court denied the Motion and the Order Appointing Receiver, Freezing Assets and Other Relief remains in full effect.

 

 

APRIL 25, 2014

 

NOTICE OF RECEIVERSHIP – AMERICAN PENSION SERVICES, INC. AND CURTIS DeYOUNG

 

On April 24, 2014, the federal court in Salt Lake City placed APS under the control of a Receiver in order to protect the assets of retirement accounts held by APS as custodian.  The Court’s Order appointing the Receiver grants the Receiver full power and authority over all APS operations.

 

The Receiver’s appointment was made at the request of the U.S. Securities & Exchange Commission (“SEC") in a lawsuit the SEC filed against APS and its principal, Curtis de Young.  In its Complaint, the SEC alleges that APS has violated U.S. securities laws through the theft of customer funds, the placement of unauthorized investments, forged direction letters, and inflated asset values.  The Court also issued a Temporary Restraining Order which prohibits any further violation of securities laws.

 

The primary job of the Receiver is to protect the assets held by APS as custodian.  To assist in that process, the Court has ordered an Asset Freeze of all APS assets, including assets held in accounts as to which APS is custodian.  This will cause account holders some short term inconvenience, but will enable us to assess the situation within APS and take the necessary steps to protect assets before operations recommence.  We ask that you please be patient as that process continues.


The Receiver has established this website to be the primary vehicle for communication with account holders.  Currently, the Court has sealed the case file, but once the documents are made public, the Complaint, Temporary Restraining Order, Order Appointing Receiver, and any other applicable documents will be available through this website.

 

Please be assured that, despite the immediate inconvenience, the receivership’s mission is to protect account holders and their retirement assets.