🔥 MMAT Update – June 11, 2026
📄 Docket Nos. 2863, 2864, 2865 & 2866
What happened?
Trustee Christina Lovato filed a series of motions asking Judge Spraker to schedule an expedited status conference regarding DTCC’s subpoena compliance and production delays.
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🎯 The Main Issue
The Trustee says DTCC still has not fully produced certain subpoenaed records, particularly transaction-level Correspondent Clearing Data that has been requested since 2025.
According to Trustee counsel David Burnett:
“That data is very important to our analysis.”
In simple terms, this appears to be data that could help identify who was actually involved in specific trades, not just trading totals.
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⏰ Why The Rush?
This is the biggest takeaway.
The Trustee specifically warned the Court that continued delays could impact potential claims because of statute-of-limitations deadlines.
Burnett also stated:
“Statute of limitations deadlines make DTCC’s immediate production … very time-sensitive.”
🚨 That’s strong language coming directly from Trustee counsel.
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📬 What’s Next?
At this point:
✅ DTCC has not filed a Motion to Quash
✅ Trustee has not filed a Motion to Compel
✅ Trustee wants Judge Spraker to step in and hold a focused conference to address DTCC’s outstanding production and determine next steps.
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👀 What Stands Out
The repeated focus on:
🔹 Correspondent Clearing Data
🔹 Transaction-level records
🔹 Time-sensitive discovery
🔹 Statute-of-limitations concerns
suggests the Trustee believes this remaining DTCC data is important to the ongoing investigation.
📌 Bottom Line: The investigation appears very much alive, DTCC remains an active discovery target, and the Trustee is pushing for answers sooner rather than later.
⚖️ Not Legal Advice • For Discussion & Entertainment Purposes Only ⚖️
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