Assignee Note: The Assignee reserves the right to change the plan and/or make changes at the direction of the Court. The following Frequently Asked Questions (FAQ?s) follow the current version of the plan.
1) Who is covered in the redemption card program?
Anyone who appears in the Fleer generated database of those owed redemption cards and those who have sent in redemption cards to Fleer and/or the Assignee since the commencement of the Assignment for the Benefit of Creditors with a postmark no later than October 31, 2005. The Assignee is not responsible for late, lost or misdirected mail.
2) What will redemption cardholders receive?
For each redemption card request on file with the Assignee, the redemption cardholder will receive: one (1) autographed card and two (2) game worn/memorabilia cards. This means that if an individual has sent in 10 individual redemption cards (which remain unfulfilled), they will receive 10 autographed cards and 20 game worn/memorabilia cards. As long as inventory of that sport remains, the Assignee will make an effort to provide cards in the same sport as the original redemption card. For example, if someone was supposed to receive a card(s) of a basketball player, the Assignee will endeavor to send basketball cards.
3) Will I get the card I am supposed to receive?
Most likely not. This is because the Assignee will use a random process to distribute cards. Thus, it is highly unlikely you will get the card you were supposed to receive. You should also be aware that many of the cards that would have been used to fulfill redemption requests were not made prior to the time Fleer ceased operation, making exact fulfillment impossible at this point.
4) Do I have a say in what cards I get / What if I don?t like the cards I receive?
Based on the sheer number of people owed cards the Assignee cannot accommodate requests for special cards. If you do not like the cards you receive you cannot return them to the Assignee. You can always attempt to trade your card(s) with other collectors to obtain cards that you may like.
5) Why can?t I have the card(s) I was supposed to receive?
In many cases the cards being requested by cardholders have not been made and would be impossible to fulfill. By using this process it puts all cardholders on an even level and treats them all the same.
6) Will I be compensated ?dollar-for-dollar? on the alleged value of my card?
No. It would be prohibitively expensive to negotiate the ?fair? value of every card owed as card values are subjective and price is driven by many factors beyond the control of the Assignee. While some people may feel they are receiving ?less value? for their cards, the Assignee believes that, for the most part, people will receive more in value than they would be entitled to if they received the exact card owed.
7) I have sent in multiple redemption cards, will I get duplicate cards?
As this is a random process, there is a possibility that you may receive a duplicate card. The Assignee cannot exchange duplicate cards.
8) What if the card(s) I receive are damaged?
The Assignee and his staff having taken care during the inventory of the cards to remove cards that appear to be ?damaged.? Based on the subjective nature of card grading, the Assignee cannot exchange cards that cardholders feel are damaged.
9) I still have unsent redemption cards; can I still send them in?
No, the deadline to file redemption cards with the Assignee was October 31, 2005. This deadline was well publicized in industry publications, such as Tuff Stuff, Sports Collectors Digest, TradeFax and Beckett.
10) I do not understand the section about ?buying? the redemption card inventory, are cards for sale?
Yes and no. The Assignee has placed a provision in the motion that would allow a person or company to make a bid to purchase the redemption card inventory, at auction, with a minimum bid of $500,000. The buyer must realize they are also assuming the redemption card liability and must adhere to the redemption card program as laid out by the Assignee. The buyer would also be subject to an audit and random monitoring to ensure collectors receive the cards as per the program. Those who wish to inquire about this provision should contact the Assignee directly.
11) I filed a Proof of Claim, what now?
Under this mechanism to compensate redemption cardholders, the cards you will receive will replace your claim. Any other claim you filed will be expunged and you will not receive any cash distribution on account of your claim. It is likely that the cards that will be sent under the program will provide a greater distribution to such creditors than they could otherwise receive in this matter.
12) I filed a Complaint with the Burlington County New Jersey Department of Consumer affairs, now what?
Those cardholders who filed claims with the Burlington County New Jersey Department of Consumer Affairs will receive cards under the program in the same manner as those who filed redemption cards and/or claim forms with the Assignee directly. The Burlington County Consumer Affairs Department has been instrumental in assisting the Assignee in creating this program.
13) What will happen to the ?leftover? cards?
The Assignee has over 300,000 cards in his possession. It is anticipated that once all redemption card requests are logged that between 100,000 and 150,000 cards will be ?leftover.? The Assignee plans to auction these cards and use the proceeds to compensate the Estate for the costs associated with this redemption card program. These costs include, but are not limited to attorney and paralegal fees, labor costs, card protectors, protective mailers and postage.
14) When will I get my cards?
The redemption card program was approved by the Court in January 2006. Cards started to ship almost immediately and the program was completed in April 2006. At this time no other cards are being sent. If you never received your cards and you submitted redemption requests by the deadline you will need to contact the Assignee's office to determine your status.