OM-Monitor Receivership

James D. Sallah, Esq.
Corporate Monitor

Jeffrey C. Schneider, P.A.
Patrick J. Rengstl, Esq.
Counsel for Corporate Monitor

PAYTON & ASSOCIATES, LLC
    and
LEVINE KELLOGG LEHMAN SCHNEIDER + GROSSMAN LLP
Attorneys at Law
Telephone: (305) 372-3500 x23
Email: rengstl@payton-law.com

Latest News

August 4, 2015

The Corporate Monitor has filed his Tenth Report, which summarizes the case from April through the present. The link to the Tenth Report is below for review.

July 23, 2015

The United States of America, through the Fraud Section of the Criminal Division of the United States Department of Justice and the United States Attorney’s Office for the Middle District of Florida, has filed criminal charges against Gignesh Movalia relating to OM Global. Mr. Movalia has signed a Plea Agreement for one count, which charges him with investment adviser’s fraud in violation of 15 U.S.C. § 80b-6. The elements of the criminal charge are: (i) Mr. Movalia is an investment adviser regarding investments in securities; (ii) Mr. Movalia used the mail or interstate commerce to defraud investors; and (iii) Mr. Movalia did so knowingly and willfully. The charge carries a maximum term of imprisonment of five (5) years.

The plea date, on which the Court will accept or reject the Plea Agreement, is August 13, 2015. If the Court accepts the plea, a sentencing hearing will then be scheduled. It is anticipated that a sentencing hearing would occur a few months after the August plea date. Links to the Plea Agreement and the Information charging Mr. Movalia are below.

More News

Court Documents

The following documents are in PDF format. Adobe Reader is required to view the PDF's. If you do not have Adobe Acrobat, please click here to download the free Adobe Reader.

  • Agreed Order Granting Plaintiff's Unopposed Motion for Appointment of Corporate Monitor, dated 5/29/2013 (download)
  • First Report of Corporate Monitor James D. Sallah, dated 6/26/2013 (download)
  • Corporate Monitor's Emergency Motion to Expand Corporate Monitorship over OM Global LP, dated 8/14/2013 (download)
  • Corporate Monitor's Emergency Motion to Enjoin Defendant Gignesh Movalia from Communicating with Investors, dated 8/14/2013 (download)
  • Corporate Monitor's Emergency Motion to Compel Defendant Gignesh Movalia to Produce Records Regarding OM Global LP, dated 8/14/2013 (download)
  • Agreed Order Granting Corporate Monitor's Emergency Motion to Expand Corporate Monitorship over OM Global LP, dated 8/17/2013 (download)
  • Agreed Order Granting Corporate Monitor's Emergency Motion to Enjoin Defendant Gignesh Movalia from Communicating with Investors, dated 8/17/2013 (download)
  • Agreed Order Granting Corporate Monitor's Emergency Motion to Compel Defendant Gignesh Movalia to Produce Records Regarding OM Global LP, dated 8/17/2013 (download)
  • Notice of Filing Second Report of Corporate Monitor, dated 8/23/2013 (download)
  • Corporate Monitor's Unopposed Motion to Approve Loan Payoff with Chhatrala Group, LLC, dated 10/2/2013 (download)
  • Agreed Order Granting Corporate Monitor's Unopposed Motion to Approve Loan Payoff with Chhatrala Group, LLC, dated 10/2/2013 (download)
  • Corporate Monitor's Unopposed Motion to Approve Form and Manner of Proof of Claim Form and to Establish Claims Bar Date, dated 10/18/2013 (download)
  • Notice of Filing Third Report of Corporate Monitor, dated 11/12/2013 (download)
  • Corporate Monitor’s Motion to Approve Settlement Agreement with Parimal Kansagra and His Affiliated Entities, dated 11/26/2013 (download)
  • Agreed Order Granting Corporate Monitor’s Motion to Approve Settlement Agreement with Parimal Kansagra and His Affiliated Entities, dated 12/11/13 (download)
  • Corporate Monitor's Unopposed Motion to (1) Approve Claims Procedure for Distributions; (2) Establish Procedure by which to Object to Claims; and (3) Establish Procedure for Reserves, dated 1/21/2014 (download)
  • Agreed Order Granting Corporate Monitor's Unopposed Motion to (1) Approve Claims Procedure for Distributions; (2) Establish Procedure by which to Object to Claims; and (3) Establish Procedure for Reserves, dated 1/21/2014 (download)
  • Corporate Monitor's Motion to Approve Settlement Agreement with DermEbx, dated 1/21/2014 (download)
  • Notice of Filing Fourth Report of Corporate Monitor, dated 2/10/2014 (download)
  • Corporate Monitor's Motion for Entry of Order Authorizing First Interim Distribution and on Disposition of Claims, dated 2/28/2014 (download)
  • Order Granting Corporate Monitor's Motion for Entry of Order Authorizing First Interim Distribution and on Disposition of Claims, dated 3/12/2014 (download)
  • Corporate Monitor’s Motion for Entry of Order for Corrected First Interim Distribution for Claimants of OM Global LP, dated 3/12/2014 (download)
  • Order Granting Corporate Monitor's Motion for Entry of Order for Corrected First Interim Distribution for Claimants of OM Global LP, dated 4/16/2014 (download)
  • Notice of Filing Fifth Report of Corporate Monitor, dated 5/8/2014 (download)
  • Notice of Filing Sixth Report of Corporate Monitor, dated 8/6/2014 (download)
  • Notice of Filing Seventh Report of Corporate Monitor, dated 10/31/2014 (download)
  • Notice of Filing Eighth Report of Corporate Monitor, dated 1/29/2014 (download)
  • Corporate Monitor's Motion for Entry of Order Authorizing Second Interim Distribution and on Disposition of Claims, Including Late Claims, dated 2/13/2015 (download)
  • Notice of Filing Ninth Report of Corporate Monitor, dated 4/29/2015 (download)