Paul Lopez and Jennifer Wahba as Receivers for RBL have filed a motion with the United States District Court for the Southern District of Florida to authorize and permit them to make an interim distribution to all investors and creditors of RBL.  A link to a copy of the motion filed with the court is here.

The Receivers have asked the court to set a hearing date to consider the motion for the distribution so that all investors and creditors will have the opportunity to first review the motion and the procedure that has been suggested for the distribution prior to court approval. Once the court sets the hearing date, a copy of the motion will be sent by email to all known investors and creditors giving them the opportunity to comment on the proposed distribution and to appear at the hearing if they choose to do so.

Once a hearing has been held, and assuming the court approves the requested interim distribution, the Receivers will post an additional update on this website and will send an email blast to notify all investors and creditors when and how the distribution will be made.

Please note that at this time, it is still too early to be able to state with certainty the percentage of the claims that will be paid with the interim distribution. Please keep in mind that this will only be the first distribution, and the Receivers anticipate that there will be one or more further distributions in the future for an additional portion of the claims. However, unfortunately, nobody will be receiving their full investment back at any time throughout this process.

Finally, the Receivers wish to inform all investors and creditors that RBL’s former CEO, Sanjay Singh, has recently been convicted of all eight counts of claimed criminal activity including  money laundering after his criminal trial, and he will remain in prison until his sentencing in February 2025.

The Receivers will continue to update this website as to the status of the proposed interim distribution. If you have any further questions, please contact the Receivers by email at rblreceiver@trippscott.com.  ____

On October 3, 2024, Paul Lopez and Jennifer Wahba in their capacities as Receivers for RBL filed their status report for the operations of the RBL receivership estate for the calendar quarter from July 1, 2024 until September 30, 2024. A link to that report is here.

Investors and creditors of RBL should take the time to read the status report in order to be able to be brought up to date and understand the various issues that are involved with the Receivers’ efforts to create the largest distribution possible to those who have been hurt by the RBL situation.

Please continue to check this website for updates on the upcoming initial interim distribution to investors and creditors.

____

RBL RECEIVERS’ STATUS REPORT ON THE INITIAL INTERIM DISTRIBUTION TO INVESTORS AND CREDITORS

Paul Lopez and Jennifer Wahba as Receivers for Royal Bengal Logistics, Inc. (RBL) provide this status report to the RBL investors and creditors concerning the contemplated initial interim distribution of funds.

The Receivers and their staff are working diligently to review the more than 1,500 proofs of claim that have been submitted. Unfortunately, many of these claims are lacking complete documentation, and others claim amounts that are inaccurate or inconsistent with the RBL records. In order for the Receivers to be able to obtain court approval for the distribution, they need to be able to certify to the court that all of the claims have been verified and that the distribution will be based upon claims with complete supporting documentation and accurate amounts.

Hopefully, the claims resolution process can be completed by the middle of September. Once that has occurred, the Receivers will calculate the distribution to be made to investors and creditors and then seek court approval for the payment to be made.

The Receivers will continue to provide updates on this website as to the progress of the claims resolution work and will notify all investors and creditors when a distribution is ready to be made

The Receivers recognize how anxious the investors and creditors are to receive some distribution, and everyone should be assured that the Receivers and their staff members are diligently working on the claims resolution process.

____

As the Receivers have previously stated, it is anticipated that there will be an initial distribution to creditors and investors of RBL in the upcoming future.

In order for creditors and investors to receive a distribution, a proof of claim must be on file with the Receivers, and the proof of claim must be fully complete with all documents attached.

Because the Receivers will calculate the distribution based upon the proofs of claim that have been submitted by the date of the calculation, any claim that is submitted after the calculation for the distribution begins will not be included as part of the initial distribution.

PLEASE BE ADVISED THAT THE RECEIVERS WILL BEGIN CALCULATING THE INITIAL DISTRIBUTION ON OR AFTER AUGUST 1, 2024. ALL INVESTORS AND CREDITORS THAT SEEK TO HAVE THEIR CLAIMS CONSIDERED TO BE PAID AS PART OF THE INITIAL DISTRIBUTION MUST HAVE THEIR PROOFS OF CLAIM SUBMITTED TO THE RECEIVERS ON OR BEFORE JULY 31, 2024. ANY PROOFS OF CLAIM SUBMITTED AFTER THAT DATE WILL ONLY BE PAID AS PART OF SUBSEQUENT DISTRIBUTIONS TO CREDITORS AND INVESTORS.

For instructions as to how to submit a proof of claim and for a proof of claim form, please scroll down to view the notice from the Receivers concerning the procedures for submitting proofs of claim.

____

In accordance with the Order entered on June 21, 2023, by the United States District Court for the Southern District of Florida appointing Paul Lopez and Jennifer Wahba as Receivers for RBL, on July 3, 2024, the Receivers filed their quarterly report of operations and quarterly accounting for the period from April 1, 2024, through June 30, 2024.

Below is a link to the Receivers’ quarterly report and accounting. All investors and creditors are urged to review this report in order to be brought up to date as to the developments in the Receivership action.

The link to the quarterly report is here.

____

Paul Lopez and Jennifer Wahba as the Receivers for RBL wish to provide all investors and creditors with an update as to current developments in the Receivership case, including information about an initial interim distribution of funds to creditors and investors.

Q - The Receivers have previously announced that there will be an interim distribution to creditors and investors this summer. Is there a more specific date for that to occur?

A - Because more than 1,500 proofs of claim have been filed with the Receivers, each one of these claims needs to be reviewed and resolved for discrepancies before an interim initial distribution can be made to creditors and investors. It is anticipated that the initial distribution will occur during the latter part of the summer of 2024, but this is not a guaranteed date.

Q - What will be the basis or rate of the distribution?

A - The distribution will be on an equal percentage basis or a pro rata basis, which means that every creditor and investor will receive the same rate of repayment as every other creditor and investor. There will be no difference in the rate of distribution for the type of claim or the amount of the claim. Everyone will be treated equally.

Q - Can you provide me with an example of what you mean by an equal distribution?

A - An investor in a truck that lost $100,000 and a 90-day short-term loan investor that lost $50,000 will each receive the same percentage of distribution. For example, and this is only an example, if there is a 10% distribution, the truck investor in this example would receive $10,000, and the short-term loan investor would receive $5,000. So even though one person may have received more money than another, the percentage is the same based on their investments. Please understand that the rate of distribution has not been determined, and that the 10% is only an example.

Q - How will the distributions be made?

A – The Receivers will issue checks to the investors and creditors and will mail them to the addresses provided on the proof of claim forms that have been submitted. If the investment was made by your company, the company will receive the check issued in its name, not your individual name.

Q - What will happen if there is still a question as to the amount of my claim that has been filed?

A - The amount of the interim distribution will be held by the Receivers separately until a resolution is made as to the amount of the claim. That money set aside will be taken into consideration when a final distribution is made.

Q - How much will be the overall distribution for this initial payment?

A - The Receivers will seek authority from the Court to distribute a total amount of $2 million to investors and creditors for the initial interim distribution on a pro rata basis as discussed above.

Q - How will creditors and investors know when a distribution is to be made?

A - The Receivers will post a notice on the Receivers’ website and send an email blast to the investors and creditors advising them to be on the lookout for the distribution checks that will be sent.

Q - Will this initial interim distribution be the only one made by the Receivers to creditors and investors?

A – No. The Receivers anticipate that there will be at least one additional distribution and perhaps more as additional funds are recovered by the Receivers for the benefit of the investors and creditors. There is no current estimate as to when the second distribution will be made.

____

On April 2, 2024, Paul Lopez and Jennifer Wahba, Receivers for RBL submitted to the Court their quarterly Status Report for the period from January 1, 2024 through March 31, 2024. This Status Report will provide all investors and creditors with a detailed explanation as to what has happened with the RBL receivership for the first three months of 2024. A link to the filed Status Report is here.

Paul Lopez and Jennifer Wahba as Receivers for Royal Bengal Logistics, Inc. (RBL) wish to provide all investors and creditors with a current update as to the status of the RBL Receivership proceedings.

As the Receivers reported in their quarterly status report filed with the court for the status of the Receivership as of December 31, 2023 [LINK], the Receivers have been in the process of selling all of the real estate and other assets that they have been able to locate that either belong to RBL or had been transferred by RBL to other individuals as fraudulent transfers. Except for several remaining trucks and trailers, all the known assets have now been sold, and the sale of the trucks and the trailers should be completed by the end of April 2024.

The Receivers have filed a lawsuit against the former accounting firm for RBL, as well as suing two former development employees (Ricardi Celicourt and Bruce Guillaume) who received excessive bonuses. Additionally, the Receivers are in the process of investigating other lawsuits that can be brought against other parties to recover additional money for investors and creditors. Unfortunately, all this investigation and litigation takes time, and the Receivers do not believe that all the litigation will be over by the end of 2024. A more realistic estimate is that the continued litigation and investigations will last through some point in 2025.

The Receivers have documented and recorded all the proof of claim forms that have been sent to the Receivers, and the Receivers’ staff is currently analyzing the proofs of claim to determine if additional information may be needed from investors to be able to process the claims. The Receivers must fully complete this claims resolutions process before any distributions to investors and creditors can be made. Also, everything the Receivers do must be approved by the SEC and the Court.

The Receivers recognize that investors and creditors are anxious for a distribution to be made to help repay them for the losses that they have sustained. Please understand that the Receivers are doing everything possible to speed up the process and recover substantial assets as quickly as possible, which can then be distributed to investors and creditors. The Receivers’ goal is that, at some point within the next several months, a partial distribution can be made to investors and creditors. The possibility of there being a partial distribution is based on many factors, some of which are currently uncertain and beyond the Receivers’ control. But the Receivers will do everything they can to have an interim distribution made to investors and creditors as soon as possible after receiving the necessary approval from the SEC and the Court.

The Receivers will continue to update the Receivers’ website at www.rblReceivers.com. Additionally, if you have any specific questions, please feel free to email the Receivers at rblreceiver@trippscott.com.

Paul Lopez and Jennifer Wahba, the RBL Receivers, want to use this opportunity to provide all creditors, investors and interested parties a status report on the proof of claim process for those who have submitted claims in order to recover monies claimed to be owed by RBL.

ROYAL BENGAL LOGISTICS, INC (RBL) RECEIVERS STATUS REPORT ON CLAIMS

Presently, approximately 1150 proofs of claim have been submitted to the Receivers from investors and creditors. The Receivers and their staff are completing the process of entering all of the data and categorizing the information contained in the claims. A number of the proofs of claim are lacking the necessary documentation or full information. In those cases, the representatives of the Receivers will be reaching out to the investors and creditors by telephone or email in order to complete and correct all proofs of claim.

The review and categorization of the proofs of claim is an early step in the claims resolution process and the work towards providing a distribution to the RBL investors and creditors. Please understand that the Receivers are doing their best to actively work to obtain funds in order to increase and maximize the distribution that will be made to creditors and investors. Unfortunately, this is a lengthy process, and, at this time, the Receivers are unable to advise investors and creditors as to when an initial distribution may be made, or the extent of an initial distribution. The Receivers will do all that they can to expedite the process, and, also, advise investors and creditors of the status of the Receivership and the claims resolution process.

IF YOU HAVE ALREADY SUBMITTED A PROOF OF CLAIM TO THE RECEIVERS, THERE IS NOTHING THAT YOU NEED TO DO AT THIS TIME. YOU WILL BE NOTIFIED BY THE RECEIVERS IF THERE IS ANY QUESTION WITH RESPECT TO YOUR PROOF OF CLAIM OR IF ADDITIONAL INFORMATION IS NEEDED.

IF YOU ARE A CREDITOR OR INVESTOR OF RBL AND HAVE NOT SUBMITTED A PROOF OF CLAIM TO THE RECEIVERS, THERE IS A LIMITED AMOUNT OF TIME FOR YOU TO DO SO. IF YOU HAVE NOT ALREADY FILED A PROOF OF CLAIM, PLEASE REVIEW THE INSTRUCTIONS BELOW AS TO HOW TO FILE A PROOF OF CLAIM AND THERE ARE LINKS IN ENGLISH AND HAITIAN CREOLE FOR YOUR USE IN ORDER TO OBTAIN A PROOF OF CLAIM FORM.

Claim Filing Instructions If You Have Not Yet Filed A Proof Of Claim

The RBL Receivers are attaching two links below for forms to be used by all investors and creditors in order to file a claim for the return of investments or the payment of debts that RBL owes you or your company. One of the forms is in English, and one of the forms is in Haitian Creole.

If you are an investor in RBL or if RBL owes you money for any reason, please print the appropriate attached form and complete it by filling in all of the information that is requested. It is very important that each of the questions be answered as completely as possible so that the Receivers will be able to evaluate your claim when it is time to make a distribution of funds. If you do not submit this Proof of Claim form, you may not be able to receive a distribution in payment of your investment or debt.

Many of you have already completed a form that was requested by the FBI at the beginning of the case, which has been linked on the Receivers' website. Even if you completed the form for the FBI, you must also complete one of the attached Proof of Claim forms and have it returned to the Receivers.

The completed claim forms should be sent by email to the address listed at the bottom of the Proof of Claim form or it can be sent by regular mail or overnight delivery to the address that is listed at the bottom of the Proof of Claim form. For those investors and creditors who return the Proof of Claim form by email (which is the preferred method), you will receive an automatic acknowledgment of the receipt of your Proof of Claim form, which you should keep for your records. Please return the completed Proof of Claim form as soon as you can.

If you have any questions concerning how to fill out or complete the attached Proof of Claim form, you can send the question by email to the Receivers’ staff at rblreceiver@trippscott.com. Please do not send your completed proof of claim form to this email address, as all completed proof of claim forms should be sent to the email address at the bottom of the proof of claim form.

Please understand that it will be many months before the Receivers are in a position to have sufficient funds in order to make a distribution to investors and creditors. The Receivers are working as fast as they can in order to recover as much money as they are able in order to accumulate the largest possible fund to begin to repay the debts due to investors and creditors.

Click here to access the English form

Click here to access the Haitian form

ROYAL BENGAL LOGISTICS, INC. (RBL)
PAUL LOPEZ AK JENNIFER WAHBA, RESEVWA

POU TOUT ENVESTISÈ AK KREDITÈ RBL: ENFÒMASYON POU FÒM REKLAMASYON AK LINK AK FÒM

Reseptè RBL yo tache de lyen anba a pou fòm tout envestisè yo ak kreditè yo dwe itilize pou yo ka ranpli yon reklamasyon pou retounen envèstisman yo oswa pou peman dèt RBL dwe ou oswa konpayi ou. Youn nan fòm yo se an Anglè, epi youn nan fòm yo se an Kreyòl Ayisyen.

Si ou se yon envestisè nan RBL oswa si RBL dwe ou lajan pou nenpòt ki rezon, tanpri enprime fòm apwopriye ki tache a epi ranpli li lè w ranpli tout enfòmasyon yo mande yo. Li enpòtan anpil pou yo reponn chak kesyon yo konplètman ke posib yon fason pou Reseptè yo kapab evalye reklamasyon w la lè li lè pou yo fè yon distribisyon lajan. Si ou pa soumèt fòm Prèv Reklamasyon sa a, ou ka pa anmezi pou resevwa yon distribisyon pou peye envestisman ou oswa dèt ou.

Anpil nan nou te deja ranpli yon fòm ke FBI te mande nan kòmansman dosye a, ki te lyen sou sit entènèt Receivers yo. Menmsi ou te ranpli fòm pou FBI a, ou dwe ranpli youn nan fòm Prèv Reklamasyon ki tache yo epi ou dwe retounen li bay Reseptè yo.

Yo ta dwe voye fòm reklamasyon yo ranpli pa imèl nan adrès ki endike anba fòm Prèv Reklamasyon an oswa yo ka voye yo pa lapòs regilye oswa livrezon lannwit lan nan adrès ki nan lis anba fòm Prèv Reklamasyon an. Pou envestisè ak kreditè sa yo ki retounen fòm Prèv Reklamasyon an pa imèl (ki se metòd la pi pito), w ap resevwa yon rekonesans otomatik nan resi a nan fòm prèv ou nan reklamasyon yo, ke w ta dwe kenbe pou dosye w. Tanpri retounen fòm Prèv Reklamasyon ki ranpli osi vit ke ou kapab.

Si w gen nenpòt kesyon konsènan fason pou w ranpli fòm Prèv Reklamasyon ki atache a, ou ka voye kesyon an pa imèl bay anplwaye Receiver yo nan rblreceiver@trippscott.com. Tanpri pa voye fòm prèv reklamasyon ou ranpli a nan adrès imel sa a, paske tout fòm prèv reklamasyon ranpli yo ta dwe voye nan adrès imel ki anba fòm prèv reklamasyon an.

Tanpri konprann ke sa pral pase anpil mwa anvan Reseptè yo nan pozisyon pou yo gen ase lajan pou fè yon distribisyon bay envestisè ak kreditè. Reseptè yo ap travay osi vit ke yo kapab pou kolekte otan lajan ke yo kapab akimile pi gwo fon posib pou kòmanse ranbouse dèt yo bay envestisè yo ak kreditè yo.

Klike la a pou wè fòm lan an kreyòl

Click here to access the English form

IMPORTANT INFORMATION ABOUT 1099 TAX FORMS FOR INVESTORS FOR 2023 FOR ROYAL BENGAL LOGISTICS, INC. (RBL)

Paul Lopez and Jennifer Wahba as Receivers for RBL wish to advise all RBL investors, lenders and creditors that the Receivers will be unable to send 1099 tax forms representing the interest paid to investors, lenders and creditors during 2023 by the deadline of January 31, 2023 as required by the Internal Revenue Service.

As the Receivers have reported in their quarterly reports filed with the Federal Court, beginning on February 1, 2023 until the appointment of the Receivers on June 21, 2023, RBL did not enter financial transactions into the computerized books and records of RBL, so, at this time, it is impossible for the Receivers to submit 1099 forms that accurately show the total amount of interest paid to investors, lenders and creditors in 2023. The Receivers' forensic accountants are working to analyze bank records and other information in order to be able to determine the extent of interest paid, and when that occurs, the Receivers hope to be able to send out the 1099 forms.

Here is a link to a letter that was written to the Internal Revenue Service by the Receivers indicating that the 1099 forms would not be sent by the deadline, and the reasons therefor. If and when the Receivers are able to provide an update on this matter, the update will be posted on this website.

If you or someone assisting you with the filing of your income tax forms has any general question about this update, please send an email to the Receivers at rblreceiver@trippscott.com. Please be advised that the Receivers cannot give you legal advice or tax advice on this matter, and they will answer only general questions about this update or the letter sent to the IRS.

AN IMPORTANT NOTICE TO ALL INVESTORS AND CREDITORS OF ROYAL BENGAL LOGISTICS, INC. (RBL)

In accordance with the requirements of the Order of the United States District Court for the Southern District of Florida appointing Paul Lopez and Jennifer Wahba as Receivers for Royal Bengal Logistics, Inc. (RBL), on January 8, 2024, the Receivers have filed with the Court their quarterly status report for the period from October 1, 2023 through December 31, 2023. A link to that report is available here.

The Receivers are working as hard as they can in order to collect sufficient monies in order to be able to make an anticipated initial distribution to creditors and investors before the end of 2024. The Receivers are aware of the distress and hardship that have been imposed on many of the investors and creditors, so they will do all that they can to work towards a prompt initial partial distribution of funds.

As in the past, if you have any questions, please send an email to the Receivers at rblreceiver@trippscott.com. Please also continue to check this website for updates from the Receivers.

An akò ak kondisyon yo nan Òdonans Tribinal Distrik Etazini pou Distri Sid Florid ki te nonmen Paul Lopez ak Jennifer Wahba kòm Reseptè pou Royal Bengal Logistics, Inc. (RBL), nan dat 8 Janvye 2024, Reseptè yo te depoze ak Tribinal la rapò sou sitiyasyon chak trimès yo pou peryòd ki te kòmanse 1 Oktòb 2023 jiska 31 Desanm 2023. Yon lyen ki mennen nan rapò sa a anba a.

Reseptè yo ap travay otank yo kapab pou yo ka kolekte ase lajan pou kapab fè yon distribisyon inisyal antisipe bay kreditè yo ak envestisè yo anvan fen 2024. Reseptè yo okouran de detrès yo ak difikilte ki te enpoze sou anpil nan envestisè yo ak kreditè, se konsa ke yo pral fè tout sa yo kapab pou travay nan direksyon pou yon distribisyon inisyal pasyèl nan lajan.

Tankou anvan, si w gen nenpòt kesyon, tanpri voye yon imèl bay Reseptè yo nan rblreceiver@trippscott.com. Tanpri kontinye tcheke sit la pou nouvo enfòmasyon ki soti nan Reseptè yo.

AN IMPORTANT NOTICE TO ALL INVESTORS AND CREDITORS OF ROYAL BENGAL LOGISTICS, INC. (RBL)

Paul Lopez and Jennifer Wahba as the court-appointed Receivers for RBL wish to advise all investors, creditors and interested parties that effective as of November 30, 2023, the Receivers will no longer be utilizing and occupying the former RBL offices located in Coral Springs, Florida. If you go to the Coral Springs office, no one will be able to help you there.

As a result, the Receivers request that all communications be sent by either email or regular mail.

To reach the Receivers by email, please use the email address rblreceiver@trippscott.com.

To reach the Receivers by US Postal Service mail, please address the communication as follows:

Paul Lopez and Jennifer Wahba, Receivers
Tripp Scott PA
110 SE 6th Street - 15th floor
Fort Lauderdale, FL 33301

AN IMPORTANT NOTICE TO ALL INVESTORS AND CREDITORS OF ROYAL BENGAL LOGISTICS, INC. (RBL)

Paul Lopez and Jennifer Wahba as Receivers for RBL have reminded all investors who own vehicles that have not been retrieved from the RBL facilities that starting on December 1, 2023, the Receivers will be required to impose daily storage fees and charges for those vehicles.

This notice is being provided to all investors and creditors of RBL and is important information for those that have an ownership interest in a truck or trailer currently stored at the RBL facilities in Fort Pierce, Florida, or Lubbock, Texas. In accordance with section 713.78 of the Florida Statutes as it applies to the Fort Pierce storage facility and section 754.245 of the Texas Statutes as it pertains to the Lubbock storage facility, BEGINNING ON DECEMBER 1, 2023, FOR ALL VEHICLES THAT HAVE NOT BEEN RETRIEVED BY THAT DATE, A STORAGE CHARGE OF $20 PER DAY FOR ALL VEHICLES UP TO 20 FEET IN LENGTH AND A STORAGE CHARGE OF $35 PER DAY FOR ALL VEHICLES IN EXCESS OF 20 FEET IN LENGTH WILL BE CHARGED.

Additionally, beginning on December 1, 2023, for those vehicles that have not been picked up by the owners, upon receipt of appropriate documents and agreements, the Receivers will surrender the remaining vehicles to those finance companies that have liens on the vehicles. 

Many of the RBL investors have advised the Receivers that they are unable to pick up the vehicles that they own. Therefore, it may be beneficial to these owners to allow the finance companies that have liens on the vehicles to pick them up and to sell them. As a result, the Receivers are asking all of the investors who have not picked up their vehicles and do not intend to do so by November 30, 2023 to please respond with an email to rblrecovery@trippscott.com advising the Receivers of the name, phone number or email address, and physical address listed on a billing statement for the lenders that have liens on their vehicle. This will help the Receivers to communicate with the lenders in order to have the vehicles picked up in a timely manner.

If RBL investors decide to allow the finance companies that have liens on their vehicles to pick up the vehicles, then the investors may have legal responsibility for any shortfalls when the vehicles are sold by the lenders. As such, the RBL investors may wish to consult with a lawyer in order to learn of their rights, remedies and responsibilities in order to properly protect themselves. Unfortunately, the Receivers are not in a position to provide legal advice to the investors.

As always, the Receivers will respond to emailed questions at “rblreceiver@trippscott.com”

AN IMPORTANT NOTICE TO ALL INVESTORS AND CREDITORS OF ROYAL BENGAL LOGISTICS, INC. (RBL)

Paul Lopez and Jennifer Wahba as Receivers for RBL want to remind all investors who own vehicles that have not been retrieved from the RBL facilities that starting on December 1, 2023, the Receivers will be required to impose daily storage fees and charges for those vehicles. Additionally, beginning on December 1, 2023, for those vehicles that have not been picked up by the owners, upon receipt of appropriate documents and agreements, the Receivers will surrender the remaining vehicles to those finance companies that have liens on the vehicles.

Many of the RBL investors have advised the Receivers that they are unable to pick up the vehicles that they own. Therefore, it may be beneficial to these owners to allow the finance companies that have liens on the vehicles to pick them up and to sell them. As a result, the Receivers are asking all of the investors who have not picked up their vehicles and do not intend to do so by November 30, 2023 to please respond with an email to rblrecovery@trippscott.com advising the Receivers of the name, phone number or email address, and physical address listed on a billing statement for the lenders that have liens on their vehicle. This will help the Receivers to communicate with the lenders in order to have the vehicles picked up in a timely manner.

If RBL investors decide to allow the finance companies that have liens on their vehicles to pick up the vehicles, then the investors may have legal responsibility for any shortfalls when the vehicles are sold by the lenders. As such, the RBL investors may wish to consult with a lawyer in order to learn of their rights, remedies and responsibilities in order to properly protect themselves. Unfortunately, the Receivers are not in a position to provide legal advice to the investors.

As always, the Receivers will respond to emailed questions at “rblreceiver@trippscott.com”

IMPORTANT NOTICE TO INVESTORS WHO HAVE NOT RETRIEVED VEHICLES

As a result of changing market conditions and the position taken by lenders to the RBL investors, the Receivers have made the decision to cancel the auction sale for those investors who chose to have their vehicle sold on their behalf by the Receivers.  After consulting with the Receivers' auctioneer, the Receivers concluded that it would be difficult, if not impossible, to sell the vehicles and extinguish the existing liens on the vehicles for two reasons. First, virtually all of the vehicles that were leased to RBL by the investors that are subject to existing financing liens have a value that is less than the lien payoff balance. This means that it will be very difficult to find buyers through an auction willing to pay the unreasonably high payoff amounts set by the lenders. Thus, the Receivers will not be able to give a purchaser at auction clear title, requiring the cancellation of the auction process. Second, the used tractor trailer market will soon be flooded with vehicles being sold from the Yellow Transportation bankruptcy case, another case involving the sale of tractors, which will drive down the value of the RBL-auctioned trucks and trailers.

As a result of the cancellation of the auction and some logistical difficulties encountered by investors in retrieving vehicles, the Receivers have made the decision to re-open the pickup calendar through November 30, 2023. Because the Receivers will be required to vacate the storage lots where the vehicles are being stored, all investors must retrieve their vehicles prior to November 30, 2023. The retrieval process will remain the same, and investors need to obtain a Release Certificate from the Receivers in order to be able to schedule a time for the pickup of their vehicles. The instructions for retrieving vehicles can be found at the bottom of this website under the July 27, 2023 update. Once the required documents have been provided to the Receivers as per the instructions on the website, investors will be provided with a Release Certificate, a Lease Termination Agreement and an online calendar link to schedule an appointment for retrieval of the vehicle. Please note that vehicles can only be picked up on Tuesdays, Thursdays, Saturdays and Sundays.

For those investors who wish to surrender their vehicles to their lenders in order to have the lenders retrieve the vehicles, the investors and lenders will need to provide the Receivers with a written consent by the investors in order for the vehicles to be surrendered to the lenders' representatives.

PLEASE NOTE: BEGINNING ON DECEMBER 1, 2023, ANY VEHICLE THAT HAS NOT BEEN PICKED UP BY AN INVESTOR OR LENDER WILL BE DEEMED TO BE ABANDONED, AND A STORAGE CHARGE OF $30 PER DAY WILL BE IMPOSED AS AGAINST EACH REMAINING VEHICLE. IT IS, THEREFORE, VERY IMPORTANT TO SCHEDULE THE PICK UP OF YOUR TRUCK OR TRAILER BEFORE NOVEMBER 30, 2023.

If you have any questions concerning the pickup of a vehicle, please send an email to rblrecovery@trippscott.com.

TO ALL INVESTORS AND CREDITORS OF RBL: CLAIM FILING FORM INFORMATION AND LINK TO FORMS
UPDATE AS OF SEPTEMBER 26, 2023

The RBL Receivers are attaching two links below for forms to be used by all investors and creditors in order to file a claim for the return of investments or the payment of debts that RBL owes you or your company.  One of the forms is in English, and one of the forms is in Haitian Creole.

If you are an investor in RBL or if RBL owes you money for any reason, please print the appropriate attached form and complete it by filling in all of the information that is requested. It is very important that each of the questions be answered as completely as possible so that the Receivers will be able to evaluate your claim when it is time to make a distribution of funds. If you do not submit this Proof of Claim form, you may not be able to receive a distribution in payment of your investment or debt.

Many of you have already completed a form that was requested by the FBI at the beginning of the case, which has been linked on the Receivers' website. Even if you completed the form for the FBI, you must also complete one of the attached Proof of Claim forms and have it returned to the Receivers.

The completed claim forms should be sent by email to the address listed at the bottom of the Proof of Claim form or it can be sent by regular mail or overnight delivery to the address that is listed at the bottom of the Proof of Claim form. For those investors and creditors who return the Proof of Claim form by email (which is the preferred method), you will receive an automatic acknowledgment of the receipt of your Proof of Claim form, which you should keep for your records. Please return the completed Proof of Claim form as soon as you can.

If you have any questions concerning how to fill out or complete the attached Proof of Claim form, you can send the question by email to the Receivers’ staff at rblreceiver@trippscott.com.  Please do not send your completed proof of claim form to this email address, as all completed proof of claim forms should be sent to the email address at the bottom of the proof of claim form.

Please understand that it will be many months before the Receivers are in a position to have sufficient funds in order to make a distribution to investors and creditors. The Receivers are working as fast as they can in order to recover as much money as they are able in order to accumulate the largest possible fund to begin to repay the debts due to investors and creditors.

Click here to access the English form

Click here to access the Haitian form

ROYAL BENGAL LOGISTICS, INC. (RBL)
PAUL LOPEZ AK JENNIFER WAHBA, RESEVWA

POU TOUT ENVESTISÈ AK KREDITÈ RBL: ENFÒMASYON POU FÒM REKLAMASYON AK LINK AK FÒM

Reseptè RBL yo tache de lyen anba a pou fòm tout envestisè yo ak kreditè yo dwe itilize pou yo ka ranpli yon reklamasyon pou retounen envèstisman yo oswa pou peman dèt RBL dwe ou oswa konpayi ou. Youn nan fòm yo se an Anglè, epi youn nan fòm yo se an Kreyòl Ayisyen.

Si ou se yon envestisè nan RBL oswa si RBL dwe ou lajan pou nenpòt ki rezon, tanpri enprime fòm apwopriye ki tache a epi ranpli li lè w ranpli tout enfòmasyon yo mande yo. Li enpòtan anpil pou yo reponn chak kesyon yo konplètman ke posib yon fason pou Reseptè yo kapab evalye reklamasyon w la lè li lè pou yo fè yon distribisyon lajan. Si ou pa soumèt fòm Prèv Reklamasyon sa a, ou ka pa anmezi pou resevwa yon distribisyon pou peye envestisman ou oswa dèt ou.

Anpil nan nou te deja ranpli yon fòm ke FBI te mande nan kòmansman dosye a, ki te lyen sou sit entènèt Receivers yo. Menmsi ou te ranpli fòm pou FBI a, ou dwe ranpli youn nan fòm Prèv Reklamasyon ki tache yo epi ou dwe retounen li bay Reseptè yo.

Yo ta dwe voye fòm reklamasyon yo ranpli pa imèl nan adrès ki endike anba fòm Prèv Reklamasyon an oswa yo ka voye yo pa lapòs regilye oswa livrezon lannwit lan nan adrès ki nan lis anba fòm Prèv Reklamasyon an. Pou envestisè ak kreditè sa yo ki retounen fòm Prèv Reklamasyon an pa imèl (ki se metòd la pi pito), w ap resevwa yon rekonesans otomatik nan resi a nan fòm prèv ou nan reklamasyon yo, ke w ta dwe kenbe pou dosye w. Tanpri retounen fòm Prèv Reklamasyon ki ranpli osi vit ke ou kapab.

Si w gen nenpòt kesyon konsènan fason pou w ranpli fòm Prèv Reklamasyon ki atache a, ou ka voye kesyon an pa imèl bay anplwaye Receiver yo nan rblreceiver@trippscott.com. Tanpri pa voye fòm prèv reklamasyon ou ranpli a nan adrès imel sa a, paske tout fòm prèv reklamasyon ranpli yo ta dwe voye nan adrès imel ki anba fòm prèv reklamasyon an.

Tanpri konprann ke sa pral pase anpil mwa anvan Reseptè yo nan pozisyon pou yo gen ase lajan pou fè yon distribisyon bay envestisè ak kreditè. Reseptè yo ap travay osi vit ke yo kapab pou kolekte otan lajan ke yo kapab akimile pi gwo fon posib pou kòmanse ranbouse dèt yo bay envestisè yo ak kreditè yo.

Klike la a pou wè fòm lan an kreyòl

Click here to access the English form

Paul Lopez and Jennifer Wahba, as Receivers for Royal Bengal Logistics, Inc. (RBL), are providing this update to the investors and creditors of RBL. The Receivers and their legal counsel have been the recipients of written and verbal questions concerning the status and the administration of the Receivership estate from investors and creditors, and in order to respond to these questions so that everyone interested in the Receivership estate receives the same information at the same time, this status report will be in a question-and-answer format to answer as many of the questions as can be answered at this time. The Receivers encourage RBL’s investors and creditors to receive information directly from the Receivers through this web site and email communications from the Receivers to ensure that the information provided is accurate.

Some of the questions presented to the Receivers deal with ongoing investigations with respect to the acts and conduct of former management of RBL as well as asset transfers that were made prior to the order appointing the Receivers. Because of the sensitivity of those investigations, at this time, it would be inappropriate for the Receivers to provide confidential information concerning the status of those investigations. As soon as investigations have been completed, the Receivers will update all investors and creditors.

Q : Prior to the appointment of the Receivers, it was learned that RBL had transferred $2,100,000 to a third party in order to purchase a vacant parcel of land in Broward County, Florida. What have the Receivers done in connection with this transaction?

A : Immediately after the appointment of the Receivers, through legal counsel, the Receivers filed a complaint in the Circuit Court for Broward County, Florida, seeking the turnover of the property and placing a restriction on the transfer of the property while the litigation was pending. As a result of negotiations with the attorney for the purchaser of the vacant parcel of land that received the $2,100,000 transfer, that individual has already signed a deed back to the Receivership estate. The deed will be recorded shortly in the public records once certain platting modifications have been recorded. Once the deed has been recorded back to the Receivership estate, the Receivers will review the best way to market and sell the property for the highest price possible.

Q : The Receivers had previously reported transfers of bonuses to individuals formerly employed by RBL, which bonuses may have been based upon commissions for promoting and selling investments and loans in RBL. What have the Receivers done to recover these funds?

A : The Receivers have filed legal actions against both of the individuals that were the recipients of the large amounts of the bonuses. One of the individuals used all or part of the bonus payments as part of the purchase price of an expensive home. Although the attorney for that individual offered to have the home deeded to the Receivers, that proposal was rejected due to the fact that the home is subject to a substantial mortgage, which would have to be serviced by the Receivership estate, as well as the Receivers becoming responsible for insurance and taxes on a vacant home. These expenses would all be paid out of the pool of money that would otherwise be available to be distributed to the investors at the appropriate time. The Receivers are negotiating with the attorney for both of the recipients of the bonuses in order to recover the amounts transferred. If the settlement negotiations are unsuccessful, the Receivers will proceed with the litigation that has already been filed in order to obtain judgments for the full amount of funds transferred to these individuals.

Q : In the Receivers' interim status report, they reported transfers of funds from RBL to insiders of RBL, affiliates of RBL and third parties in some way connected with the management of RBL. What have the Receivers done in order to recover these funds?

A : In conjunction with the forensic accountants employed by the Receivers, the court-appointed legal counsel for the Receivers has issued more than 20 subpoenas to banks and financial institutions in order to obtain copies of banking records for RBL. The issuance of the subpoenas had become necessary because the Receivers determined that management of RBL discontinued making entries in the financial books and records of RBL as of February 1, 2023, which made it virtually impossible for the Receivers to trace funds in and out of RBL accounts using books and records of RBL. The Receivers, their legal counsel and their forensic accountants are currently working to analyze and review the bank account records showing the hundreds of transfers made by RBL that may be "suspicious" or inappropriate in order to determine what actions need to be taken to recover improperly transferred monies from RBL.

Q : In the Receivers' interim status report, it was mentioned that transfers had been made from RBL bank accounts to an affiliated entity North America Aerospace, LLC (NAA), which is owned by Sanjay Singh. What have the Receivers done in connection with those transfers?

A : As a result of the investigation conducted by the Receivers, their legal counsel and their forensic accountants, on September 8, 2023, the Receivers filed a motion in the Federal Court to have them also appointed as Receivers for NAA. On Monday, September 12, 2023, an Order was entered by the United States District Court for the Southern District of Florida granting the motion, and the RBL Receivers were also appointed as Receivers for NAA. The Receivers are currently in the process of gathering information as to the assets, liabilities and business activities of NAA so that they will be able to recover the maximum possible for the benefit of the investors and creditors of RBL. The Receivers will be taking ownership of any bank accounts in NAA’s name, and Mr. Singh will not have any ownership or control over NAA.

Q : In the Receivers' interim status report they mentioned the purchase of two residential properties in the Lubbock, Texas, area by RBL. What have the Receivers done in order to deal with those properties?

A : The Receivers obtained an order from the US District Court authorizing them to sell the approximately 40-acre ranch and home and a separate smaller home owned by RBL in Texas by way of an auction sale. During the week of September 5, 2023, the auction sale was held, and the larger property received a winning bid of $925,000 and the smaller property received a winning bid of $200,000. Additionally, all of the furniture was purchased at auction for $2,500. The Receivers and their auctioneer are in the process of completing the documentation in order to close on the transaction to sell these properties and to receive the proceeds of the sale into the Receivership estate.

Q : RBL had maintained a business operation and garage in Lubbock, Texas, where assets of RBL were located. What are the Receivers doing in connection with this property and the assets located there?

A : The Receivers are continuing to utilize the leased premises in Lubbock, Texas, which is a hangar and storage lot on a former U.S. Air Force Base in order to release vehicles that belong to investors and to wind down the business operations of RBL that were conducted at this location. Once the Receivers no longer need to utilize the leased property in Lubbock, they will arrange to sell all remaining assets, including any gas tanks, tools, or RBL-owned trucks, and surrender the premises back to the landlord. It is estimated that this can be accomplished within the next 60 days. Any personal property belonging to RBL in Lubbock will be sold for the Receivership estate’s benefit so that funds can be available to be distributed to investors and creditors.

Q : What happened to the accounts receivable for the trucking operation at the time that the Receivers were appointed? Were any of these monies collected?

A : Following their appointment, in reviewing the books and records of RBL, it was found that management of RBL had factored all accounts receivable from the trucking operation to a lender. A factoring agreement means that RBL sold its accounts receivable upon their creation to this lender for a discounted amount, with the lender then taking the responsibility and the risk of collecting the accounts receivable. Because all of RBL's trucking operations accounts receivables were factored, there were no accounts receivable due and owing to RBL at the time the Receivers were appointed.

Q : What else are the Receivers doing in order to recover funds to be paid back to the investors and creditors?

A : The Receivers have reviewed transactions with professionals that had been employed by RBL in order to determine if their professional representation of RBL was appropriate. The Receivers have given notice to some of these professionals that there is reason to believe that their representation of RBL was negligent and contributed to the continued operation of a Ponzi scheme by RBL. The Receivers are further investigating what actions should be taken against these professionals in order to recover appropriate funds for the Receivership estate. The Receivers are also evaluating whether viable claims can be pursued against financial institutions for aiding and abetting prior management with the misuse of investors' funds.

Q : What happened to the millions of dollars in RBL’s bank accounts or the “backup account” to pay investors?

A : The Receivers took control and ownership of all known bank accounts in RBL’s name. All RBL’s accounts were frozen until the Receivers took control of the accounts. However, the amount of money in those accounts is not as high as the investors appear to think.

Q : What happened to the money diverted to Cingar Transports?

A : The Receivers do not have enough evidence at this time to conclude that Cingar Transports, LLC was owned and controlled by RBL or Mr. Singh. The Receivers are in contact with the owner of Cingar, as well as his attorney, and are further investigating any transfers from RBL to Cingar.

Q : What happened to Mr. Singh’s house?

A : The Receivers do not have any control over Mr. Singh’s personal home where he lives.

RECEIVERS FOR ROYAL BENGAL LOGISTICS, INC. (RBL)
UPDATE AS OF AUGUST 31, 2023

RBL investors and creditors have contacted the Receivers and the Receivers' attorneys seeking information as to how the repayment process will be handled, and how long it will take for repayment to be made. The Receivers appreciate and understand the questions being asked in this regard and, as such, wanted to provide the following update to investors and creditors.

All investors and creditors, whether or not those investors received interests in trucks, including those investors who made short-term loans and longer loans, will soon be asked to complete a proof of claim form that will be completed by the investors and creditors and then sent to the Receivers. On this form, investors and creditors will be asked to provide their contact information, the type of investment or loan that they made, whether or not they received an interest in a truck, the amount of their loan or loans, and other information that will help the Receivers in reviewing and analyzing these claims. The investors and creditors must certify that they are telling the truth on these forms. Even if investors have already sent emails containing investment information and submitted their agreements to the Receivers, the investors will still need to fill out this proof of claim form online.

Once all investors and creditors have had the opportunity to submit the proof of claim forms, the Receivers will begin the process of evaluating the claims, and will communicate with those investors and creditors where the information provided is not complete, or if Receivers have additional questions.

The Receivers hope to be able to have the claims filing process in place and the proof of claims forms available by the end of September 2023, if not sooner. Investors and creditors will be notified by email when the proof of claim form is available, and detailed instructions for the completion of the claims form will be provided. At the same time, a copy of the proof of claim form and the instructions will be posted on this website.

Following that, all investors and creditors will be notified as to the procedures that will be adopted for distributions and repayments to investors and creditors. At this time, it is too early for the Receivers to be able to estimate or predict when any initial distribution to investors and creditors can be made. The Receivers are working diligently to recover assets and monies in order to make the largest distribution to investors and creditors as possible.

Please continue to regularly review this website for further updates from the Receivers.

ANNOUNCE THE AUCTION SALE OF RESIDENTIAL PROPERTIES IN TEXAS
UPDATE AS OF AUGUST 28, 2023

Shortly after their appointment as the RBL Receivers, as part of their investigation  Paul Lopez and Jennifer Wahba found that prior to the appointment of the Receivers, RBL had purchased two residential properties in the Lubbock, Texas area, one of which included approximately 40 acres of ranch land. Since the Receivers were unable to find a legitimate business purpose for continuing to own and maintain the Texas residential properties, they determined that a prompt sale of the properties would produce funds to be utilized by the Receivership estate.

The Receivers then investigated the various methods of selling these properties in today's real estate market, and after consulting with various professionals, determined that utilizing an auction service with a nationwide reach would be the way to obtain the highest and best price for the sale of these properties.  The Receivers then filed a Motion with the Federal Court, the federal judge presiding over the Receivership entered an Order was entered authorizing the Receivers to sell the two properties at auction sale.

For the benefit of all investors, creditors and those interested in the RBL Receivership estate, the Receivers are attaching copies of the auction brochures for the sale of the two properties (property link 1, property link 2). As soon as the auction sales have been completed, the Receivers will update this website with the results of the auction sales.

In order to provide all investors and creditors of RBL with an update and additional information concerning the status of the RBL Receivership proceeding, the Receivers are using this website update in order to attach links to several filed court papers that will provide more background concerning the efforts taken by the Receivers to gather the assets in order for ultimate distribution to the investors and creditors. Each of the links below will provide this additional background and information.

On June 21, 2023, the Securities and Exchange Commission (SEC) filed a Complaint against RBL and Sanjay Singh that was the basis for the appointment of the Receivers for RBL. The Complaint sets forth the factual and legal basis for the justification by the Judge of the US District Court to freeze all of the RBL assets, to issue an injunction directed to RBL and Mr. Singh, which then led to the appointment of the Receivers. Here is the link to a copy of the Complaint.

Upon their appointment as Receivers and after they began their investigation as to the pre-receivership business activities of RBL, the Receivers and their legal counsel determined that RBL had transferred $2,100,000 to a friend or insider of RBL, and that money was used to purchase a vacant parcel of commercial property in Broward County, Florida. The Receivers filed an immediate Complaint in a different court to require the individual to transfer the real estate back to the RBL Receivership estate, where it can be sold and the proceeds used to pay investors and creditors. As of this time, the Receivers believe that the property will be transferred back to the RBL Receivership estate in the very near future. Here is a link to a copy of the complaint against the recipients of the $2,100,000.

The Receivers also examined the RBL payroll records and bank account records in order to determine if any illegal or improper payments were made to employees or insiders of RBL outside of the ordinary course of business. The Receivers were able to determine that a series of "bonuses" were paid to an individual employed by RBL more than $500,000, apparently to compensate him or provide him benefit for procuring loans from investors who are now the victims of the RBL enterprise. The Receivers have filed a Complaint in another court to not only recover the payments that were made to this individual, but also to put a lien on the home that this individual and his wife purchased with the proceeds of the payments. Here is a link to a copy of the Complaint against the recipient and his wife.

The Receivers and their legal counsel are continuing their investigation as to other transfers that were made to former employees and insiders of RBL, and actions will be filed in courts in order to recover any improperly transferred funds or assets. In order to provide all of the investors and creditors with an understanding and summary of what the Receivers have done and the current status of the case, a copy of the preliminary status report filed with the Court is attached to this summary. Please click on the link to the attachment in order to review what was filed with the Court.  This will provide everyone with a more complete understanding of the current status of the receivership and RBL.

On August 10, 2023, Paul Lopez and Jennifer Wahba as Receivers for RBL filed a preliminary status report as to the receivership operations with the United States District Court for the Southern District of Florida.

Receivers for Royal Bengal Logistics, Inc. (RBL) notice to investor/owners of vehicles of an opportunity to have vehicles sold at no cost to the investors/owners

Paul Lopez and Jennifer Wahba as the Receivers for RBL have received communications from a number of investor/owners of vehicles indicating that the investor/owners do not desire to take possession of the vehicles that have been placed in their name or the name of the entity created on their behalf by RBL, but, instead, those investor/owners would prefer to have their vehicle sold in a commercially reasonable manner in order to obtain the highest price for them.

To accommodate these requests, the Receivers have developed a procedure whereby vehicle owners entitled to receive the surrender of their vehicles by RBL can elect to allow the Receivers to utilize a commercial vehicle auction service in order to sell their vehicles and obtain the highest price possible.

If a vehicle owner does not have a lien on the vehicle, then the proceeds of the sale, without any sales commission or fee paid to the auctioneer, will be paid to the owner of the vehicle. If the vehicle to be sold has a lien on it, the owner can work with the lender (with the assistance of the Receivers if needed) in order to allow the vehicle to be sold so that the lien can be fully or partially satisfied which will eliminate additional financial responsibility being placed on the vehicle owner for insurance, maintenance, and continued loan payments as well as other fees and expenses.

If as an investor/owner of the vehicle you are interested in learning more about having the Receivers sell your vehicle rather than having to take possession of it, please send an email to the Receivers at rblrecovery@trippscott.com and place in the reference line the word “AUCTION.” Once the owner's email is reviewed by the Receivers, further information will be sent to you as to the procedures to follow in order to utilize this method of selling your vehicle in a commercially reasonable manner in order to obtain what should be the highest price possible.

If you have any questions, please contact Charles Tatelbaum, the attorney for the Receivers, at cmt@trippscott.com.

Paul Lopez and Jennifer Wahba as Receivers for Royal Bengal Logistics, Inc (RBL) are posting this status update as of July 27, 2023 in order to keep investors and creditors of RBL up-to-date on recent developments.

As previously reported, the Receivers have received court authorization to start the process of surrendering vehicles to owners of the vehicles. To that end, the Receivers posted the procedures for the surrender of vehicles to this website, and many owners have uploaded the required documentation and information to the designated email address in order to begin the process of having their vehicles released. On July 27, 2023, the initial group of vehicles started to be released to owners that have provided the appropriate and complete documentation. Vehicle releases will continue on schedule in the order in which the required documentation is provided to the Receivers.  This process may take several weeks.

PLEASE NOTE:  IN ORDER TO HELP THOSE INVESTORS THAT ARE UNABLE TO PICK UP VEHICLES ON WEEKDAYS, THE RECEIVERS ARE NOW ACCEPTING RESERVATIONS FOR VEHICLE PICKUP ON SATURDAY AND SUNDAY.

When the complete documents have been provided to the Receivers and the Release Certificate is issued, investors will be given a link to a calendar scheduling system so that appointments can be made for weekdays or weekends.

THE OPPORTUNITY TO PICK UP VEHICLES WILL BE AVAILABLE ONLY FOR A LIMITED PERIOD OF TIME. IT IS IMPORTANT THAT ALL INVESTORS WHO DESIRE TO PICK UP VEHICLES COMPLETE THE PROCESS TO OBTAIN A RELEASE CERTIFICATE AND SCHEDULE AN APPOINTMENT PROMPTLY. VEHICLES THAT ARE NOT PICKED UP BEFORE THE END OF THE OPPORTUNITY TO DO SO WILL BE CONSIDERED ABANDONED.

The Receivers are taking appropriate actions in order to recover assets that belong to RBL or which were transferred by RBL where the Receivers believe that the transfers were inappropriate and can be recovered by the Receivers.  All of these steps are being taken so as to be able to accumulate funds for ultimate distribution to investors and creditors.

The Receivers are unable to predict or estimate as to when any distributions can be made to investors and creditors. It will take the Receivers time to analyze all of the claims that can be asserted in order to maximize the recovery for investors and creditors while the Receivers are carrying out their required obligations and duties. Additionally, the Receivers will need to analyze the various types of claims that will be asserted against the funds collected in order to then obtain court approval for how the claims are to be categorized, and in which order of priority the claims are to be paid. While investors and creditors understandably desire to have a distribution made as soon as possible, the Receivers will be required to take the appropriate steps to maximize all distributions and to determine classification and priority of distributions before any funds may be sent to investors and creditors. While the Receivers understand the investors and creditors are anxious about the timing of all of this, the Receivers must follow appropriate procedures pursuant to Florida and federal law to ensure a maximum and fair recovery for all investors and creditors.

This website will be updated on a regular basis by the Receivers in order to provide investors and creditors up-to-date information concerning the status of the Receivership proceedings.

On June 21, 2023, Judge Raag Singhal of the United States District Court for the Southern District of Florida (the Federal Court) entered an Order appointing Paul Lopez and Jennifer Wahba as Receivers for Royal Bengal Logistics, Inc. (RBL).  The Receivers are using this website to provide investors, creditors, customers and those interested in RBL with updated information when it becomes available.

The Receivers’ initial responsibility is to work with their court appointed accounting professionals in order to determine the viability of RBL continuing as a going concern. Given the many facets of RBL’s business and financial activities, making this determination is complex, and the Receivers must take the time needed in order to gain the data and information necessary to make appropriate decisions.

On Wednesday, June 5, 2023, the Receivers filed a Motion in the Federal Court seeking the Court’s permission and authority for the Receivers to surrender the investors’/owners’ vehicles back to them upon proof of ownership. The Federal Court will consider the Motion and consider any responses or any opposition that is filed to the Motion. Assuming the Federal Judge does enter the Order authorizing the Receivers to surrender the vehicles to the investor/owners, through this website and through an email blast, the Receivers will notify the investors/owners of the procedure to be created for the orderly surrender of the vehicles. The Receivers will do everything they can in order to expedite the surrender once the court Order has been entered authorizing them to do so.

On July 6, 2023, the United States District Judge administering the RBL case entered an Order approving the Receivers’ request to be able to surrender the vehicles to the title owners. The Receivers have established procedures for the surrender of the vehicles to the owners. Those procedures are copied below. PLEASE READ THE PROCEDURES CAREFULLY, AS ALL PROCEDURES MUST BE FOLLOWED FOR THE RELEASE OF A VEHICLE.

PROCEDURES FOR THE SURRENDER OF RBL VEHICLES TO TITLE OWNERS

In order to carry out their responsibilities in accordance with the order of the United States District Court for the Southern District of Florida appointing Paul Lopez and Jennifer Wahba as Receivers for RBL, the following procedures have been established and will be used in order to surrender and deliver vehicles to the title owners of vehicles leased to RBL.

1. In order to retrieve a vehicle in the possession of the Receivers, an owner must first obtain a Release Certificate from the Receivers.  The title owner or the authorized representative of the owner of the vehicle must provide all of the following as proof of ownership before a Release Certificate will be issued by the Receivers for a vehicle to be surrendered:  The following MUST be included as attachments to an owner’s request for a Release Certificate:

a. The current valid motor vehicle registration form for the vehicle which indicates the owner’s name and the VIN for the vehicle. Alternatively, a copy of the title to the vehicle may be presented.

b. A copy of the driver’s license for the owner or authorized representative seeking to take possession of the vehicle.

c. If the title to the vehicle is in an individual’s name, then a copy of the driver’s license for the individual owner must be presented.

d. If the title to the vehicle or the registration for the vehicle is in the name of a corporation or limited liability company, the owner or authorized representative seeking to obtain a Release Certificate will need to provide proof of the authority to act for the title owner.

i. A copy of a form from the Secretary of State of the state where the corporation or limited liability company has been established showing that the person seeking to retrieve the vehicle is the shareholder, director, officer or member of the corporation or limited liability company that owns the vehicle; or

ii. A copy of the promissory note or investment agreement with RBL where the individual signing that agreement or note is the same individual seeking to retrieve the vehicle; or

iii. A copy of a notarized corporate resolution by the entity owning the vehicle authorizing the specific individual to pick up the vehicle. 

Once all of the documents are ready for attachment to an email, the request for a Release Certificate must be sent to “rblrecovery@trippscott.com” email address. This is a NEW email address that has been created. Please do not send emails to the other Receiver email address. 

Once the Receivers have had an opportunity to review the request for the Release Certificate, and if all of the attachments to the request contain the required documents listed above, the Receivers will send an email to the vehicle title owner or authorized representative containing a Release Certificate.

2. So that the pickup and delivery of the vehicles and the surrender to the title owners can be carried out in an orderly manner, once a Release Certificate has been issued to the title owner by the Receivers, all title owners will then be required to schedule an appointment to pick up their vehicles. At the time that the Release Certificate is issued, owners will be provided with a link to a website in order to schedule an appointment for the retrieval of the vehicle. At the same time, the Receivers will advise the owners as to the location where the vehicle is being stored. Vehicles may only be picked up at the time and location after scheduling an appointment as listed above. No vehicles will be surrendered outside of a scheduled appointment.

3. Once an appointment has been scheduled as above, an authorized representative and an appropriately licensed driver may visit the location where the vehicle is stored in order to retrieve the vehicle. A copy of the Release Certificate MUST be presented at the time of the pickup of the vehicle. Vehicles will not be released without this Release Certificate. 

4. Please be advised that any individual seeking to operate a vehicle that is released must have the appropriate CDL operator’s license in order to do so. No vehicle will be released to anyone who does not have the appropriate and necessary license.

5. If a title owner desires to use a towing company or other vehicle transportation company to retrieve the vehicle, a copy of the Release Certificate for the vehicle must be presented at the time of the appointment in order for the vehicle to be released to a third party.

Regarding the particular investors who invested in RBL for the purpose of acquiring a truck but did not receive one, the Receivers are continuing to work with the Federal authorities and the Court appointed forensic accountants to develop a plan to address potential recoveries for any such investors. As stated before, the finances of RBL are complicated, and it will take some time to investigate the financial status of RBL and to determine the feasibility of returning funds to all investors.

Investors and creditors, as well as those interested in RBL can be comfortable in the fact that the Receivership is under the auspices, jurisdiction and control of the Federal Court, and a Federal Judge will be overseeing and approving all significant operational decisions involving RBL.

The Receivers will update this website as frequently as possible in order to provide updated information when it becomes available.