We are pleased to announce that the U.S. Government has taken an important step towards implementing the Value Access Plan (VAP) . As we announced in our posting dated December 31, 2010, the VAP will permit owners of VAP-Qualified Accounts to be paid in U.S. dollars their proportionate share of the monetized value of the e-metals in their Accounts.
Specifically, we have learned that the Government has nominated a Claims Administrator to oversee the VAP. The Government is expected to apply for court approval of that nominee soon. Pursuant to our agreement with the Government, once the Claims Administrator is appointed by the court, we can provide our Account holders with notice of the launch of the VAP on this website and instructions on how to submit VAP claims.
As we explained in our previous posting, once the VAP begins, there will be a 120-day period within which all claims must be submitted, and approved claims will be paid by the court-appointed Claims Administrator on a rolling basis.
We will continue to post updates on the Government's implementation of the VAP on this website. We therefore would encourage you to monitor this site for further important updates.