Wonder what they are waiting for??????
🚨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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