Updates

CASE AGAINST UFMC

February 15, 2005
Employees File a Class Action Complaint Against UFMC
November 1, 2005
The Case is Sent to Arbitration
February 9, 2006
JAMS is selected as the Arbitrator and Arbitration Commences
November 2006
Employees Ask That UFMC Employees Be Notified About the Lawsuit and Allowed to Join
The Arbitrator Agrees with Employees and Requires That UFMC Provide the Names and Addresses of UFMC Employees So That Notice Can Be Sent
December 29, 2006
Notice is Mailed to UFMC Employees
April 2007
Parties Engage in Settlement Negotiations
July 16, 2007
Alliance Mortgage Formerly UFMC Files for Chapter 7 Bankruptcy
JAMS arbitration is halted with a stay because of bankruptcy filing
December 2007
Employees secure Delaware bankruptcy counsel to assist with Alliance Bancorp. bankruptcy case
March 2008
Employees intend to ask the bankruptcy court to lift the stay so that JAMS arbitration can continue

CASE AGAINST AIRLIE OPPORTUNITY MASTER FUND, LTD., ARH MORTGAGE INC, WDM FUND, L.P., STEVE KHOSHABE, JOSEPH KHOSHABE and JASON SCHIFFMAN

September 21, 2006
Employees File a Lawsuit Against Airlie Opportunity Master Fund, LTD., ARH Mortgage Inc., WDM Fund, L.P.,(all of whom purchased UFMC) and Steve Khoshabe, Joseph Khoshabe and Jason Schiffman (who operated UFMC)
December 11, 2006
Employees Ask the Court to Rule in Their Favor Because Steve Khoshabe, Joseph Khoshabe and Jason Schiffman Did Not Respond to the Complaint
December 19, 2006
The Clerk of the Court Files an Entry of Default Against Steve Khoshabe, Joseph Khoshabe and Jason Schiffman.
January 3, 2007
Airlie Opportunity Master Fund LTD, ARH Mortgage Inc., and WDM Fund LP File a Motion to Compel Arbitration or Dismiss the Plaintiff’s Complaint
January 23, 2007
Steve Khoshabe, Joseph Khosabe and Jason Schiffman File a Motion to Dismiss Plaintiff’s Complaint
February 12, 2007
Plaintiff Moves to Compel the Arbitration and Pays the Initial Filing Fees for Arbitration
October 9, 2007
The Court Orders a Hearing Before the Honorable David G. Larimer on October 9, 2007 to Decide Whether the Case Should Go to Arbitration or Stay with the Court and Who the Complaint Should Proceed Against
December 2007
Defendant ARH Mortgage, Inc., files for bankruptcy
January 29, 2008
Defendants request that the court stay the entire case because of ARH Mortgage’s filing of bankruptcy
February 6, 2008
Employees argue against staying the entire case and that the case should continue against the remaining defendants
February 8, 2008
The Court rules that the bankruptcy stay only applies to ARH Mortgage and the case is to continue against the remaining defendants

Download

Class Action Complaint | Download (.pdf format)

Arbitrator's Decision 11-20-2006 | Download (.pdf format)