Coravca Distributions, LLC Receivership
The Receiver appointed in this case, Amir A. Isaiah, Esq. has established this website to keep customers advised of the progress both of the Receivership and of the litigation surrounding the Plaintiffs’ lawsuit against Coravca Distributions, LLC, and/or Timeline Trading Corp. (collectively referred to herein as the “Receivership Entities”), and its owners, as well as other named Defendants. It will provide frequent updates and answer questions regarding the progress of the case.
This website will not provide you with legal advice. You may wish to contact an attorney for further information about these proceedings.
Message from the Receiver
September 16, 2010
Welcome to Coravca Distributions, LLC and Timeline Trading Corp. On Thursday, September 16, 2010, The Honorable Gill S. Freeman, of the 11th Judicial Circuit, in and for Miami-Dade County, Florida, entered an Order appointing Amir A. Isaiah, Esq. to act as the Receiver for Coravca Distributions LLC and Timeline Trading Corp., the companies sued in the case of P & M Business Systems, Corp., Silvio Pacheco and Francisco Rizo v. Coravca Distributions, LLC, Timeline Trading Corp., ET AL, Case Number 10 49536 CA 40, as well as Receiver for “all other entities operated, controlled or otherwise associated with the Defendants’ activities, which entities shall be deemed to be included in the term “Receivership Entities” and shall serve until further Order of this Court.” A copy of the Court’s Order Appointing Receiver and Granting Temporary Injunctive Relief, and asset freeze issued against the Receivership Entities and certain individually named Defendants is here.
We appreciate your patience and in the interim ask that you contact us by phone at 866-357-9634 or by e-mail at Receiver@CoravcaReceiver.com.
Amir A. Isaiah, Esq.
CORAVCA DISTRIBUTIONS, LLC, TIMELINE TRADING CORP., ET AL. RECEIVERSHIP ESTATE
2699 SOUTH BAYSHORE DRIVE, 3rd FLOOR
MIAMI, FLORIDA 33133
TO: All customers and/or investors of Coravca Distributions LLC and/or Timeline Trading Corp. (collectively referred to herein as the "Receivership Entities")
You are receiving this Notice because you are listed as a current or former customer and/or investor of one of the Receivership Entities listed above. The Receivership Entities should no longer be providing investment services to investors as of September 16, 2010. Please read carefully the information in this Notice.
Background: On September 13, 2010, P & M Business Systems, Corp., Silvio Pacheco and Francisco Rizo (the "Plaintiffs"), filed a lawsuit against the Receivership Entities and certain individuals, including Joaquin Gonzalez Gonzalez, Rosa Villarroel, Diego Corado, Alberto Aguirre, William Amorretti, Javier Angulo, Nieves Crespo, Omar Lugo, Ivania Filgueira, and Dayron Virgil (collectively referred to as the "Defendants"), asserting that the Defendants caused customers and/or investors to invest moneys in a fraudulent Ponzi scheme through deceptive trade practices and representations that Coravca Distributions, LLC and/or Timeline Trading Corp. were bonefide international investment companies, licensed to offer investment services in the State of Florida or elsewhere. See attached Complaint.
In order to protect the clients and preserve the assets, on September 16, 2010, the Court appointed Amir A. Isaiah, Esq. as the Receiver for the Receivership Entities (see attached Order Appointing Receiver and Granting Temporary Injunctive Relief). As the Court-appointed Receiver for the Receivership Entities, Amir A. Isaiah was instructed by the Court to marshal, preserve, protect, maintain, manage and safeguard the assets of the Receivership Entities and take control of the funds, assets and property of the Receivership Entities so that, under the supervision of the Court, there can possibly be a distribution of these assets to consumers who suffered losses as a result of their involvement with one or more of the Receivership Entities. The Receiver is presently conducting an investigation into the operations and the finances of the Receivership Entities and certain named individual Defendants. This letter is being sent to you in order to advise you of the circumstances leading to the appointment of the Receiver for the Receivership Entities and to explain to you what will happen now that the Receiver has been appointed. Your help in providing information and supporting documentation to the Receiver is of the utmost importance to the Receiver's investigation. In addition, the principals of the Receivership Entities, Joaquin Gonzalez Gonzalez, Rosa Villarroel, Diego Corado, and Alberto Aguirre, as well as individual Defendants William Amorretti, Javier Angulo, have been directed by the Honorable Gill S. Freeman to cease and desist soliciting, or otherwise causing customers and/or investors to invest monies with the Receivership Entities.
The Receiver has been appointed to protect you and the other customers and/or investors of the Receivership Entities. The Receiver is aware that many customers suffered significant financial hardship following their investment with one of the Receivership Entities. The Receiver has been appointed so that more people are not similarly hurt.
WHAT WILL HAPPEN TO MY ACCOUNT?
The Receivership Entities will not be providing any investment services to you after September 16, 2010. Any funds previously provided to the Receivership Entities will not be invested on your behalf. Any refunds previously requested will not be provided at this time. The Receiver is in the process of investigating the whereabouts of all moneys provided to the Receivership Entities by consumers and/or investors.
CAN I SUE THE RECEIVERSHIP ENTITIES?
The only way to file a claim against the Receivership Entities without leave of Court is to file a Proof of Claim, which is functionally the same as a lawsuit against the Receivership Entities but allows you to file it at no cost to yourself and without needing to hire an attorney, if you choose not to do so.
HOW DO I FILE A PROOF OF CLAIM?
If you believe you have a claim against any of the Receivership Entities, you will be provided notice and an opportunity to submit your claim at a time to be determined. Pursuant to paragraph j on page 8 of the Order, the Receiver "shall establish a procedure for creditors of the Receivership Entities to file claims. The Receiver shall examine the validity and priority of all claims against the Receivership Entities, which claims shall be finally determined by this Court."
HOW MUCH OF MY MONEY WILL BE RETURNED TO ME?
The exact amount paid on any claim will depend upon the proof provided, the records available to the Receiver, the funds available, and any further rulings by the Court. At this time, however, the Receiver believes that assets of the Receivership Entities do not exceed their liabilities. Therefore, the Receiver believes that Claimants who timely file claims that are accepted by the Receiver at a date to be determined will not receive 100% of their claims.
The Receiver requests your assistance and patience throughout the course of the Receiver's investigation. Please call (866) 357-9634 or (305) 858-5600 if you have any information regarding this case. Please fax supporting documentation to (786) 470-2158. Please email information to email@example.com.
Mail supporting documentation to:
Amir A. Isaiah, Receiver
Attn: Coravca Distributions LLC, Timeline Trading Corp., ET AL Receivership
2699 S. Bayshore Drive, 3rd Floor
Miami, Florida 33133
Questions and Additional Information:
More information is available at the Internet page established by the Receiver to answer your questions and keep you informed. The website is updated regularly with new information. Please visit http://www.CoravcaReceiver.com or call (866) 357-9634 or (305) 858-5600.