Rick Siskey’s investors will have to wait longer to get their money back
A federal bankruptcy court judge on Monday said the case before him was about as "complex as you can imagine," noting it has pieces proceeding through bankruptcy and state dockets. The court still needs to figure out what claims investors are owed, as well as what assets will be available to pass along to them.
"I'm sure you would all like to know when a distribution will be made," Judge
Siskey, 58, took his own life in
Siskey's records showed that investors were owed around
At Monday's hearing, attorney
The next step in the case will be a hearing on
Following that hearing, individual objections to recommendations made by the trustee will be heard starting
At Monday's hearing, attorney
The money potentially available to investors includes life insurance money paid out to
In filings, some investors have questioned whether all of the insurance money should be available to investors because their investments may have helped pay for the premiums.
It's difficult to estimate how much Siskey paid in premiums because it's unclear what kind of policies he had and when he took them out. He also had an association with
But an insurance broker who is not involved in the case told the Observer that
Among the claimants objecting to the trustee's recommendations is a firm called
In bankruptcy court,
That case has since been moved to North Carolina Business Court, where both
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