NRP



CASHING RELEASES NRP On March 23, 2012, the Court entered an Order approving the Receiver’s settlement agreement with NRP Financial, Inc.  If you cash the NRP settlement check, you are barred from any further pursuit of claims against NRP relating to this Ponzi scheme.

By cashing the NRP settlement check, you release, acquit and forever discharge NRP from any and all claims, liabilities, demands, actions, suits, causes of action of every kind and nature, demands for damage, expenses, attorney fees, and compensation of every kind and nature whatsoever, that you had or currently have related to, concerning, or arising out of this Ponzi scheme.


Click here to read the full terms of the release (Paragraph 5 of the Settlement Agreement).

 

Click here to see the entire Settlement Agreement between NRP Financial and the Receiver.



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Paragraph 5

(5) The “Releasing Parties” under this Agreement are the Receiver, on his own behalf, and on behalf of the Receivership Entities and any and all of their agents, advisors, employees, successors, personal representatives, and assigns (if any), and each of them; all persons and entities in privity with the Receiver; and any Receivership Claimant who willingly and knowingly accepts any proceeds from this Agreement (individually and collectively, the “Releasing Parties”).  Upon NRPF’s performance under this Agreement, the Releasing Parties hereby release, acquit, and forever discharge NRPF, and each of its owners, directors, officers, control persons, employees, registered representatives (excluding Beckman and any owners, directors, officers, control persons, employees, registered representatives or agents of any Receivership Entities), agents, successors, parents, affiliates, assigns (if any), attorneys, insurers, agents, heirs, and estates, and each of them, from any and all claims, liabilities, demands, actions, suits, causes of action of every kind and nature, demands for damage, expenses, attorney fees, and compensation of every kind and nature whatsoever, that the Releasing Parties had or currently have related to, concerning, or arising out of (i) all claims that were or could have been asserted in the Complaint; (ii) the Assigned Western Claims; and (iii) the alleged proliferation and operation of the Ponzi scheme described above, by Beckman or any owners, directors, officers, control persons, employees, investment advisor representatives or agents of any Receivership Entities, whether arising in contract or tort, including, without limitation, any claims relating to fraud, including without limitation fraud in the inducement, whether known or unknown, contingent or matured, foreseen or unforeseen, asserted or unasserted, including, but not limited to, all claims for compensatory, general, special, consequential, incidental, and punitive damages, attorney fees, and equitable relief, except as set forth in this Agreement (collectively referred to as the “Released Claims”).  These claims include, but are not limited to, claims on guarantees, claims made under Section 10 of the 1934 Act and Rule 10b-5 (including, but not limited to, any claims for unsuitability, fraud, misrepresentation, or negligence), violation of the 1933 Act, violations of any other applicable securities laws (both federal and state for both primary and secondary liability), breach of contract, misrepresentation, conversion, vicarious/control person liability, negligence (including failure to supervise), violations of FINRA, SEC, or state regulatory rules, compensatory damage claims, punitive damage claims, and all claims related thereto and thereafter, including, but not by way of limitation, any claims for fraud, deceit, breach of fiduciary duty, suitability, churning, compensatory damages, punitive damages, attorney fees and costs, and vicarious liability for such claims, and any other claims arising from the sale, purchase, or solicitation of Beckman investments, or the common core of operative facts addressed in the Complaint or in the Receivership Proceedings concerning Beckman and the Beckman Entities.
a. To the extent permitted by law, all parties who have Released Claims under this Agreement are deemed to have expressly waived, released, and forever discharged any and all defenses, provisions, rights and benefits that may be available under:

i. Section 1542 of the California Civil Code, which provides:

“A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.”

  and/or

ii. Any statute, law, or the common law of any jurisdiction which is similar, comparable or equivalent to Section 1542 of the California Civil Code.

b. Nothing in the above releases and covenants will be construed to release claims that the Receiver and the Receivership Claimants, investors, creditors, and other claimants may have arising from or relating to any other person or entity not expressly named or referred to herein.


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