Some two hours ago, I had the idea to write to my bank and tell them about the incoming transfer from across the lake, adding the link to sec.gov articles + the KCC website, so they see it's "something official". And just now, I checked my bank account and boom, it's there. Paid ~1.0285 USD → EUR conversion rate, which I guess is okay. So that's it, waiting is over and the fund did its thing, proving that sometimes, you can find real treasures in the junk (folder of your email account). Cool.

Never used Vircurex and LocalBitcoins because they were not popular here. But I started on bitcoin.de in 2012 and after the birth of shitcoins and, later on, the ever growing Altcoin Seasons, I also used Cryptsy, Bittrex and Polo. Never forget Tristan's boss move of dumping Polo on Justin Sun's sorry ass, right at the top. The best trade of all, even though it was obvious that this would mark the beginn of Polo's downfall, quickly followed by Bittrex who imo became a casualty of an ever growing arrogance towards their users.
Still remember the fontas pumps on BTC-e. Man, this guy taught me my first lesson. 20 BTC taken, poof, gone.Then chat moderator bumface created his own shitcoin which wasn't even traded on BTC-e. What a time. I feel I was quite a bit younger, back then, lol

But "a good percent", that's a good chunk, well worth waiting for. 👍

That said, the initial primary transaction method via PayPal was also one of the peculiarities around this. PayPal needs connection to a bank account anyway, so it was completely beyond me how anyone can genuinely request/require something like PayPal when distributing funds on behalf of the SEC. I mean c'mon, that's literally asking for trouble.
I know I had "chosen" PayPal initially, though I don't know if there was an actual choice or if nothing else was available. Now it's entirely possible that somewhere along the way, I switched to Bank Wire. Which I really hope I did... I'm not sure if I have the patience to deal with phone operators or support agents in general, these days. ^^

Congrats man. Also thanks for informing us that they were preparing payments a few weeks ago. Gotta admit, the +27% completely exceeds my expectations. Now all I have to do is wait until January 13th, because luck has this thing where it completely avoids me. A perfectly short line in the supermarket suddenly becomes a nightmare just because I chose to stand there; in the restaurant, I tend to receive my food when everybody else has finished and sure enough, they will finish the payments with my claim last. And then, PayPal will freeze my account, just for shits n giggles.

Just kidding, life is great and we're getting paid 😎🚀

i too am still waiting, a bit worried if i entered correct bank account information

Germany here, no incoming transfer as of yet. Can anybody else confirm the 27% surplus?

My friend didn't receive any email

my friend from europe received it via bank transfer too, im still waiting

Finally today I received a payment. Sender is "POLONIEX FAIR FUND" I received it via bank transfer. Surprisingly amount is %27 more than specified "Recognised loss"

Hello,

 

No payments have been made yet and we do not have a set date of distribution; our goal now is to pay in January.  Communication will be sent with the amount of your distribution payment prior to the funds being released.

 

Kind regards,

 

KCC Class Action Services LLC

Fund Administrator


They were going to make the payment at the beginning of January, now it's January. This is a really annoying situation, everyone, please write an e-mail, claim your rights, the fund manager does not comply with the payment plan, complain to the SEC if necessary
 

Re: or the problem is that they put the money on interest for 3-month periods, they cannot withdraw the money put on interest, this process will be completed at the end of December, so the escrow account will be accessible from January 1,

But in this case, it is very amateur, you are the unit that manages the big banks, if they are making this delay because of interest, I say kudos to you.

So, from what I understand, the release of the funds has just happened with the update from a couple days ago (edit: seems not, just the instruction to release, right?). And the documents state that they will make payments within ten days, which, according to the quoted reply above, has now become "within ~30-40 days"?
Yes, it sucks and I'd prefer earlier rather than later, too. But imagine sending 5 million dollars in transactions between 9 and (I'm guessing here) 50.000 dollars. Since the lower end usually has the most users, it's very likely a fuckload of payments to make. I would not wanna be responsible for that, let alone plan this around the other everyday business stuff or actually sending the funds to each and every user.
My impression (from former communication, their oldish website, their mails sometimes gotten flagged as spam etc), I doubt that they have an automated implementation of the process where they press the "send funds to all users" button and all is done in an instant. So for now, I suggest to not mass spam their mailboxes. Maybe someone ask "wen lazy dev giebs money for muh femeleh" (maybe better phrasing than mine here) and then we might get a reply without further delaying the process with mails which have little chance of success to finish this earlier.

PLAN OF DISTRIBUTION

Article

66. Upon The Fund Administrator will then use its best efforts to commence mailing
Distribution Payment checks and/or effect payments within ten (10) business days of the release
of the funds into the Escrow Account. All efforts will be coordinated to limit the time between
the Escrow Account’s receipt of the funds and the issuance of Distribution Payments.

How do we know if they are making their "best efforts"?

Everyone, please write an e-mail to the fund admin and state that they do not comply with the rules,

They have turned the process into child's play, they can make payments in one day if they want, they are dragging the business downhill.

Normally, the payment plan says that the money should be deposited at the beginning of December, but they are again making things worse.

I think I've read somewhere that aside from interest (thanks for the explanations FairFundEnjoyer and Qutays... turns out the math is much simpler than I expected; it was just late last night and I forgot about the total fund size, but with that in mind, it's pretty obvious), we can not expect more than our personal claim's amount if there is any residual money. I fed my local Quivr installation with the court documents and when I asked it this very question, it more or less confirmed that and it said that getting paid more is generally unlikely because the purpose is to make harmed users whole again, not to turn in a profit. Leftover money normally goes back to the treasury.

But keep in mind that this information comes from an AI, and while it sounds like it makes sense, it can just as well be wrong, generally or in this particular case.