Securities and Exchange Commission, Plaintiff,
v.
Today's Growth Consultant, Inc.
dba The Income Store and
Kenneth D. Courtright, III
 Defendants.
Case No. 1:19-CV-08454
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FAQ's

 

Q: What are the terms of the Settlement with Heartland Bank and Trust?

A: The Receiver entered into a Settlement with Heartland Bank which will result in an immediate net recovery to the Estate of over $6 million. The full details of the Settlement and the Motion to Approve Distribution Plan are on the receivership website under the Court Filings tab at https://incomestorereceivership.com/. In addition, please review the Notice of Settlement and Bar Order posted on the homepage of the receivershipís website. This Bar Order may affect your rights. Any objection to the Settlement or the Bar Order or any related matter, must be filed, in writing, with the District Court in the above-captioned action, and served by email or regular mail, on the Receiverís counsel at, Thomas A. Culmo, DAMIAN | VALORI | CULMO, 1000 Brickell Avenue, Suite 1020, Miami, FL 33131, or tom@culmolaw.com, no later than June 30, 2023.


Q: Will the Receiver distribute the settlement proceeds of that Settlement to investors?

A: Yes. The Receiver has asked the Court for permission to distribute approximately, $7 million to investors with approved claims as soon as the Settlement is approved by the Court and the settlement funds are received.  This means that if the Settlement is approved by the Court, an initial distribution of approximately 10% of approved claims will be made.


Q: When will the Court decide whether to approve the settlement and the initial distribution?

A: The Court will hold a hearing on the motion to approve the settlement and the distribution on July 14, 2023, at 10:00 a.m. Central Time.


Q: When will the Receiver make the distribution?

A: If the settlement and the distribution is approved at the July 14th hearing, then the Receiver will send the funds by check mailed via U.S. first class mail in late August or September 2023. 


Q: Will this be the only distribution made to investors?

A: We anticipate that this will be an initial distribution and we expect to make a final distribution upon the conclusion of all lawsuits that the Receiver has brought on behalf of the Estate against third parties.


Q: Is there anything else I need to do to receive my distribution?

A: If you have already filed a claim with the Receivership Estate there is nothing more you need to do at this time to receive a distribution, except please confirm and/or update the address where you want to receive your distribution check by sending an email to IncomeStoreClaims@dvllp.com.


Q: Will I also receive a distribution from Kenneth Courtright or only from the Receiver?

A: The Receiver was only appointed as receiver over Todays Growth Consultants Inc. and its assets. She does not have control over Kenneth Courtrightís personal assets. Therefore, she only has authority to marshal, liquidate and/or make distributions from the assets of Todays Growth Consultants Inc.


Q: What is the status of the Securities & Exchange Commission enforcement action against Kenneth Courtright?

A: The enforcement action is stayed and cannot proceed until the conclusion of the criminal case against Kenneth Courtright. The trial in the criminal case against Kenneth Courtrightís is set to begin on June 26, 2023, in the Federal Court in the Northern District of Illinois. The Receiver is not informed as to when or how the Securities & Exchange Commission will proceed with the enforcement action after the conclusion of the criminal trial.


Q: I have additional questions. How can I reach the Receiver or her representatives?

A: You can contact the Receiver and/or her legal counsel, Thomas Culmo, Esq. or Connor Healey, Esq., at (305) 542-4410 or by email at IncomeStoreClaims@dvllp.com. 
 
 

 

 

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