North American Clearing, Inc.
Trustee Website
Important Notices
September 17, 2008
Update from Robert N. Gilbert, Esq., Trustee of North American Clearing, Inc.
In accordance with the Order of the Bankruptcy Court, the Trustee published the Notice: Commencement of Liquidation Proceeding in the Wall Street Journal (domestic and international editions) and the Orlando Sentinel on September 16, 2008. A copy of the Notice is available here.
On or before September 16, 2008, the Trustee arranged to mail informational packages, including claim forms, to each Customer, Creditor, Broker-Dealer, and Correspondent Broker the Trustee has identified.
A copy of the Customer Package is available for download in PDF format here. This package contains the following materials: (1) Customer Claim form; (2) Instructions for Completing Customer Claim Form; (3) Letter to All Customers of North American Clearing, Inc.; (4) Notice: Commencement of Liquidation Proceeding; and (5) SIPC Brochure – The Investors Guide to Brokerage Firm Liquidations. Please note: Customers should use the Customer Claim form mailed to them whenever possible because it was pre-labeled with the Customer account number.
A copy of the Creditor Package is available for download in PDF format here. This package contains the following materials: (1) Letter to All Creditors; (2) Notice: Commencement of Liquidation Proceeding; and (3) Creditor Claim Form.
A copy of the Broker-Dealer Package is available for download in PDF format here. This package contains the following materials: (1) Letter to All Broker-Dealers; (2) Notice: Commencement of Liquidation Proceeding; (3) SIPC FORM 300-A, SIPC FORM 300-B, and SIPC FORM 300-C; and (4) SIPC BROCHURE – SERIES 300: RULES REGARDING CLOSEOUT OF COMPLETION OF OPEN CONTRACTUAL COMMITMENTS.
A copy of the Correspondent Broker Package is available for download in PDF format here. This package contains copies of the materials contained in the Customer, Creditor and Broker-Dealer packages set forth above.
September 4, 2008
Update from Robert N. Gilbert, Esq., Trustee of North American Clearing, Inc.
On August 29, 2008, the United States Bankruptcy Court for the Middle District of Florida an Order on Ex Parte Application for Publication of Notices, Procedures for Resolution of Claims, and Other Relief. The Court’s order (without exhibits) is available for viewing by clicking here.
In addition to other provisions, this Order provides that certain notices will be mailed by the Trustee to all customers and other creditors of North American Clearing, Inc. on or before September 16, 2008.
For ease of reference, a copy of the District Court’s July 28, 2008 Protection Order finding that the customers of North American Clearing, inc. are in need of the protection afforded by the Securities Investor Protection Act of 1970 and appointing Robert N. Gilbert, Esq. as trustee for the liquidation of the business of North American Clearing, Inc. is available for viewing by clicking here.
The web site for the Securities Investor Protection Corporation is available here.
The web site for the United States Bankruptcy Court for the Middle District of Florida is available here.
July 31, 2008
Update from Robert N. Gilbert, Esq., Trustee of North American Clearing, Inc.
In light of the recent financial difficulties facing North American Clearing, Inc., the Securities Investor Protection Corporation ("SIPC") petitioned the United States District Court for the Middle District of Florida to appoint a Trustee to oversee the liquidation of North American Clearing, Inc. On July 28, 2008, the Honorable Judge John Antoon, II granted SIPC's request by entering an order appointing Robert N. Gilbert, Esq., Trustee of North American Clearing, Inc. Effective July 28, 2008, Mr. Gilbert will serve as Court Appointed Trustee of North American Clearing, Inc., and in this role will oversee its liquidation in accordance with the Securities Investor Protection Act of 1970, as amended ("SIPA", 15 U.S.C. section 78aaa et seq.).
The Primary purpose of SIPA is to protect individual investors from financial hardship resulting from the failure of a member firm such as North American Clearing, Inc. SIPC, which was created pursuant to SIPA, is charged with advancing funds to securities customers of member firms within the parameters of SIPA. The appointment of a Trustee is the first step in that process.
Effective immediately, all correspondence to North American Clearing, Inc., should be sent to the following address:
North American Clearing, Inc.
c/o Robert N. Gilbert, as Trustee
P.O. Box 4966
Orlando, FL 32802-4966
During the days ahead, the Trustee and his staff will perform a comprehensive analysis of North American Clearing, Inc.'s records, financial affairs, assets and liabilities. As additional information becomes available which needs to be communicated to customers and creditors, the trustee will post such information on this web site or a new web site he is currently setting up. Your patience during this time is greatly appreciated.
Robert N. Gilbert
Court Appointed Trustee of North American Clearing, Inc.