Peregrine Financial Group, Inc.

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NOTICE TO PFG FUTURES CUSTOMERS OF PROPOSED DISTRIBUTION

On February 3, 2016, the Trustee filed the Trustee’s Motion for Entry of an Order Authorizing Additional Interim Distributions on Allowed 4d Customer Claims (the “Motion”).[1]  In the Motion, the Trustee requested authority from the Bankruptcy Court to make up to a sixty (60%) interim distribution of segregated cash to the holders of Allowed 4d Customer Claims (the “Proposed Distribution”).

With respect to holders of Allowed 4d Customer Claims that received all Prior Distributions, the proposed incremental distribution will be 11%.  The Trustee will continue to make 100% distributions to holders of Allowed 30.7 Customer Claims as the remaining unresolved 30.7 Customer claims become Allowed Futures Claims.  Holders of Allowed Futures Claims that did not receive the full amount of their Prior Distributions will receive their pro rata share of the undistributed portion of all Prior Distributions.

The Trustee also requested authority from the Bankruptcy Court to set 11:59 p.m. (CST) on February 3, 2016 as the “Record Date” for the Proposed Distribution.  As of the Record Date, the claims register shall be closed for the purposes of the Proposed Distribution and the Trustee shall have no obligation to recognize any transfer of any claims occurring after the Record Date.  The Proposed Distribution checks will be mailed to the customer at the address contained in the proof of claim as of the Record Date.

The Motion is scheduled for hearing on February 11, at 10:00 a.m. (CST) in Courtroom No. 742, United States Courthouse, 219 South Dearborn Street, Chicago, Illinois, before the Honorable Judge Carol A. Doyle, Bankruptcy Judge, or such other Judge who may be sitting in her place and stead.  Such hearing may be continued from time to time without further notice other than by announcement in open Court.  A copy of the Motion and the proposed order is available here.

[1] Capitalized terms not defined herein shall have the meanings ascribed to them in the Motion.

NOTICE TO PFG FUTURES CUSTOMERS OF PROPOSED DISTRIBUTION

On June 30, 2015, the Trustee filed the Trustee’s Motion for Entry of an Order Authorizing Additional Interim Distributions on Allowed 4d Customer Claims (the “Motion”).[1]  In the Motion, the Trustee requested authority from the Bankruptcy Court to make up to a 49% interim distribution of segregated cash to the holders of Allowed 4d Customer Claims (the “Proposed Distribution”).

With respect to holders of Allowed 4d Customer Claims that received all Prior Distributions, the proposed incremental distribution will be 5%.  The Trustee will continue to make 100% distributions to holders of Allowed 30.7 Customer Claims as the remaining unresolved 30.7 Customer claims become Allowed Futures Claims.  Holders of Allowed Futures Claims that did not receive the full amount of their Prior Distributions will receive their pro rata share of the undistributed portion of all Prior Distributions.

The Trustee also requested authority from the Bankruptcy Court to set 11:59 p.m. (CDT) on July 8, 2015 as the “Record Date” for the Proposed Distribution.  As of the Record Date, the claims register shall be closed for the purposes of the Proposed Distribution and the Trustee shall have no obligation to recognize any transfer of any claims occurring after the Record Date.  The Proposed Distribution checks will be mailed to the customer at the address contained in the proof of claim as of the Record Date.

The Motion is scheduled for hearing on July 8, 2015 at 10:00 a.m. (CDT) in Courtroom No. 742, United States Courthouse, 219 South Dearborn Street, Chicago, Illinois, before the Honorable Judge Carol A. Doyle, Bankruptcy Judge, or such other Judge who may be sitting in her place and stead.  Such hearing may be continued from time to time without further notice other than by announcement in open Court.  A copy of the Motion and the proposed order is available here.

[1] Capitalized terms not defined herein shall have the meanings ascribed to them in the Motion.

NOTICE TO FORMER FUTURES CUSTOMERS OF PFG WHOSE ACCOUNT BALANCES IN EXCESS OF $1000 WERE SENT TO  VISION FINANCIAL MARKETS LLC

Per the Order entered by the Bankruptcy Court on October 5, 2012 (the “Bulk Transfer Order”), most account balances of former PFG futures customers were sent to Vision Financial Markets LLC (“Vision”).  You still have a limited opportunity to recover those funds directly from Vision if the amount transferred to Vision was in excess of $1,000.  On October 20, 2014, Vision will return to the PFG bankruptcy trustee all remaining funds of former PFG futures customers who do not contact Vision.  Once returned to the PFG bankruptcy trustee, those funds will not be recoverable by you unless you timely filed a proof of claim that has been allowed in the PFG bankruptcy case.  To prevent this, you must contact Vision prior to October 13, 2014 and request access to your funds.

 Contact Vision directly at http://www.visionfinancialmarkets.com/pfgtransfer

A copy of the Bulk Transfer Order is available here.

NOTICE TO FORMER CUSTOMERS OF PFG WHOSE ACCOUNT BALANCES BETWEEN $100 AND $1000 WERE SENT TO VISION FINANCIAL MARKETS LLC

Beginning on October 19, 2012, former PFG customers whose accounts were sent to Vision Financial Markets LLC were able to contact Vision to request access to their funds. For those former PFG customers with account balances between $100 and $1000, Vision will return those funds to the Peregrine bankruptcy trustee if you do not contact Vision before March 5, 2013 to request access to your funds. Once returned to the trustee, those funds will not be available prior to the completion of the claims process by the trustee and his staff.

INFORMATION FOR PFG COMMODITY CUSTOMERS WITH FOREIGN CURRENCY BALANCES AS OF THE PETITION DATE:

On May 8, 2013, the Bankruptcy Court entered the Order Granting Trustee's Motion to Approve Procedures for Valuing Commodity Customer Claims Related to Conversions of Foreign Currencies ("Foreign Currency Order").  The Foreign Currency Order approves the procedure by which the Trustee will value commodity customer claims that require conversion of foreign currencies to US Dollars.  As approved by the Bankruptcy Court, the Trustee is authorized to use a weighted average of all conversion prices for each foreign currency in valuing the "net equity" claims of commodity customers holding balances denominated in foreign currencies as of July 10, 2012 (i.e., the bankruptcy petition date).  The weighted average conversion rate for each foreign currency is set forth in the Foreign Currency Order.  Please note that the July 2012 commodity customer statements reflect foreign currency rates as of July 31, 2012.  The July 31, 2012 exchange rates may not reflect the actual rates used to convert the foreign currencies to US Dollars since the foreign currencies were liquidated in July and September 2012 and March 2013.  A copy of the Foreign Currency Order is available here.

Announcement re Customer Distributions

On October 4, 2012, the Trustee appeared before the Bankruptcy Court at a continued hearing on the Trustee’s motion to authorize an interim distribution for the benefit of future customers. The Trustee requested the entry of an order authorizing him to make a bulk transfer (the “Bulk Transfer”) to Vision Financial Markets LLC (“Vision”) of the customer funds that are subject of the interim distribution in the approximate amount of $123,000,000 and certain of the Debtor’s approximately 13,586 (4d Accounts) and 1,053 (30.7 Accounts). Vision has agreed to pay the Trustee $325,000.00 for the Bulk Transfer. The Trustee will submit a proposed order (the “Order”) to the Bankruptcy Court on October 5, 2012, which Order will authorize the Bulk Transfer. Details and other provisions regarding the Bulk Transfer will be incorporated into the Order. Upon entry of the Order, the Trustee shall cause the Bulk Transfer to occur and Vision shall accept the Bulk Transfer within ten (10) business days following the entry of the Order. Following the Bulk Transfer, Vision will hold the interim distribution amount in separate segregated or secured amount accounts for sixty (60) days during which time any holder of a covered futures account may request that Vision either return the funds, begin trading the funds at Vision or transfer the funds to another FCM. The Trustee anticipates the entry of the Order on October 5, 2012. As soon as the Order is entered, a copy will be posted on this website.


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