Q. What is happening with the Conway Golf Club stock settlement? When will stockholders know what to expect?
A. There isn’t anything concrete to tell about the settlement at this moment, but Myrtle Beach attorney Doug Zayicek, who is handling the legal side of this issue hopes it will be soon. He says he has sent out a draft letter to try to come up with a proposal on how the court can publish the information regarding the shareholders and how they’re going to process the claims.
He isn’t allowed to publish home addresses so he thinks that’s going to be a bit of a hindrance.
He says Myrtle Beach CPA Edward Farmer has compiled the records that they have so far and he’s waiting to see those records.
Efforts by The Horry Independent to contact Farmer were unsuccessful.
Zayicek also said he hopes within the next week or so, they’re going to get a proposal to the court about how to publish the information that will be placed in area newspapers. After that, stockholders will have probably 60 days to submit whatever documentation they have to either support or dispute any claims.
Zayicek said from the corporate records that the club had, Farmer has put together a spreadsheet to the best that he could with regard to the latest owners of the shares pursuant to the corporate records.
After that they'll have to figure out whether the court is going to schedule any hearings, how many shares are going to be disputed and other information.
Clark Vereen, who has been following the long-awaited settlement and posting information about it on a Facebook page wrote a letter and published it on his shareholders page.
He says all of the club’s creditors have been paid and a lawsuit regarding an employee’s pay have been settled, so now it’s time to deal with the shareholders. People who are not on the spreadsheet that Farmer has been working on will have maybe 60 days to submit whatever documentation they have to either support or dispute any claims.
In a letter that Vereen wrote, he says, if they haven’t already, people need to copy, front and back, any stock certificates that they have, but should not send any original certificates.
He also advises sending any other documentation that they might have that substantiates their ownership claim. Those might include receipts, letters, emails, canceled checks or other proof of payment and death certificates.
He also suggests explaining your situation to include your name, address, telephone number and email address.
Farmer will review their packet and crosscheck it with shareholder records that he already has. After a review, more information may be required and, if so, Farmer will contact you.
You can send your packet by regular mail, email to firstname.lastname@example.org or mail to Edward M. Farmer, 1004 29th Ave. North, Ste. A, Myrtle Beach, SC 29577.