📣📣DTCC IS TRYING TO RUN OUT THE CLOCK ⏰️
MMAT MMTLP Bankruptcy subpoenaed the DTCC over a year ago. They still have not fully complied with the records that were requested in the subpoena.
The Trustee has contacted them many times.
Now, a hearing is set for tomorrow, June 16th, 2026, at 9.30 am.
Let's see what the Judge has to say about their noncompliance.
If you have nothing to hide, supplying the records shouldn't be a problem.
DTCC IS HIDING THE CRIME‼️
🚨MMAT / MMTLP / TRCH
📄 DTCC Delay Timeline - a closer 👀
⚖️June 16, 2026 - Hearing Before Judge Gary Spraker
⚠️Not Legal Advice
The Trustee’s June 11 filing paints a clear picture:
DTCC has been delaying production for more than a year while statute-of-limitations deadlines continue to approach. ⏰
📅 Key Timeline
🔵March 2025
Trustee serves Rule 2004 subpoena on DTCC.
Production due April 8, 2025. ⬅️⬅️⬅️
🔵March 26, 2025
DTCC acknowledges subpoena.
Requests extension and protective order.
🔵April 7, 2025
Trustee grants DTCC a two-week extension.
🔵June 16, 2025
DTCC states it can provide:
•Participant Daily Activity Statements
•CNS Reports
•UTC Reports (including Correspondent Clearing Data)
for approximately $25,200. 💵
⸻
🚩 October 2025 – Frustration Boils Over 🔥
🔵October 21, 2025
Trustee counsel David Burnett warns:
“If we don’t hear from you this week we plan to file a motion to compel.” 🔥
Later the same day, Burnett responds to DTCC:
“You are the one that has not responded to our questions for four months or given edits or comments on the protective order for five months.” 💥
DTCC responds that production would occur only under an:
“appropriately scoped Rule 2004 subpoena”
and continues to reserve objections.
⸻
🔵November 4, 2025
Burnett follows up again:
“Please provide us the courtesy of a substantive, timely, and constructive response.”
and warns:
“If you continue to delay we will enforce our rights with the court.”
⸻
📅 March 26, 2026
DTCC finally makes a partial production.
However, Trustee says the critical transaction-level Correspondent Clearing Data was missing. ⁉️
⸻
📅 April–May 2026
🔵April 24
Trustee requests missing Correspondent Clearing Data.
🔵May 5
Another follow-up. Still unresolved.
🔵May 12
🚨Burnett warns:
“Because of the time-sensitivity on our end and this dragged-out process, the Trustee is prepared to move to compel.”
🔵May 21
DTCC responds:
IT team is still working on the report and having difficulty with aged data.
🔵May 26
Burnett replies:
“We would like to get the additional data as soon as possible given time-sensitivities on our end.” ⏰
⸻
🔥 Key Statements From Burnett’s Declaration
📆Over One Year of Delay
“I have been corresponding with DTCC’s in-house counsel… for over a year.”
➡️More Than 40 Emails
“I have sent more than 40 emails to Ms. Bandler since spring 2025.”
➡️Weeks Between Responses
“Ms. Bandler did not respond to some of my emails, and in some cases she did not respond for weeks.” 🌶️
➡️Statute Concerns
“Statute of limitations deadlines make DTCC’s immediate production of the remaining discovery very time-sensitive.”
⸻
⚖️ What To POSSIBLY Expect Tuesday ⚠️NLA
Judge Spraker will likely focus on:
What specific data remains missing?
Can DTCC actually produce it?
How long will production take?
How do the statute-of-limitations deadlines impact the estate?
The Trustee’s filing appears designed to show:
✅ Subpoena issued March 2025
✅ Extension granted
✅ Protective order negotiations
✅ 40 emails
✅ Partial production only
✅ Missing Correspondent Clearing Data
✅ Statute concerns repeatedly raised
If DTCC arrives without a firm production timetable, Spraker may push for specific deadlines, status reporting, or a path toward a motion to compel. The filing strongly suggests the Trustee is documenting a year-long pattern of delay and connecting it directly to potential claim deadlines.
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