What is the real prospect that Provident will actually come out of bankruptcy and manage to make it as a viable company?
Pursuant to Chapter 11 of the United States Bankruptcy Code, a debtor may not pay any creditors or make any distributions to investors for any amounts owing or accrued prior to the filing of the bankruptcy petition without the approval of the bankruptcy court. The Receiver/Trustee as of this time has not determined if or to what extent its constituents may obtain a recovery in respect of claims or investment in any of the specific Debtors. Ultimately, such a determination will depend on a number of factors. The Receiver/Trustee is working with the constituencies to determine the best alternatives for maximizing recovery under the circumstances. When a plan is formulated, you will be provided notice of such plan, and its material terms, to all constituents as required by the bankruptcy court. Until that time, the Debtors will not be able to predict the specifics of any plan, nor how much creditors and/or investors may recover, if at all. • Should I file a claim with the SIPC? What role
