GPB Capital

The jury verdicts reached on August 1, 2024, in the criminal trial against Messrs. Gentile and Schneider are a significant development in the prosecution of those two individuals. The Monitor team and I, along with GPB Capital’s current management team, continue in our work to maximize the funds that will be returned to investors in the GPB Capital-managed limited partnerships.

As we await the Second Circuit Court of Appeals’ action on the pending receivership order, the Monitor team and GPB Capital management continue working together to liquidate remaining assets in order to maximize distributable proceeds for investors. Following what we hope will be a favorable ruling from the Second Circuit affirming the District Court order appointing me as Receiver, I will move forward expeditiously to present a distribution plan to the District Court for approval and to commence the return of funds to investors as soon as possible thereafter.

Returning funds to investors as quickly as possible and maximizing distributable proceeds remain my highest priorities.