1. What is the 650 5th Settlement Trust?

The 650 5th Settlement Trust was created as part of a court-approved settlement to distribute funds to eligible individuals and/or entities who won legal judgments related to the case In re 650 Fifth Avenue & Related Properties (referred to for Trust purposes as the Trust Beneficiaries).

2. Who is the Trust intended to benefit?

The Trust is intended to benefit the Trust Beneficiaries, certain named judgment creditors in their capacity as individuals or entities who have a right to receive settlement monies under the terms of the Settlement Agreement and Release. The Trust Beneficiaries include more than 1,000 individuals and entities (estates, trusts themselves) covering more than 20 federal judgments.

3. What is the Settlement Agreement and Release?

It’s a legal document approved by the Southern District of New York’s federal court on January 17, 2025, which identifies the terms of the settlement and creates the Trust as the way in which payments will be made to eligible parties, here the Trust Beneficiaries.

4. Who is managing the Trust?

The Trust is overseen by a court-appointed Trustee, and Epiq Systems, Inc. has been hired to serve as the Trust Administrator, handling all payment-related processes. The Trustee is subject to further oversight by the United States District Court - Southern District of New York (the “Court”).

5. What is the Confidential Disbursement Authorization (CDA) Form?

The Confidential Disbursement Authorization form for the 650 5th Settlement Trust explains the amount Trust Beneficiaries will be eligible to receive from the 650 5th Settlement Trust and details of the associated attorney fee and expense deductions. It also explains the process to verify the identity of the Claimant (defined in Question 7, below) to receive monies (including signing forms electronically and providing ID). Additionally, it covers requirements for estate representatives legal representatives of incapacitated adults or minors, tax responsibilities, and possible future supplemental payments. The CDA Form must be signed by a Trust Beneficiary or an estate, trust or other legal representative, such as an individual holding a Power of Attorney for a living Trust Beneficiary (“Other Legal Representative”), with that signature showing the CDA form was reviewed, understood and agreed upon. The process also requires the date of birth and social security number of the Trust Beneficiary be provided to verify the right person with the right authority is signing the CDA form, which also releases the Trustee and the Trust Administrator from further duties related to issuing payment. Please note that an attorney CANNOT sign the CDA Form on behalf of a Trust Beneficiary or Other Legal Representative client.

6. How do I access my payment information?

Log in to the settlement website using your Unique ID and PIN, provided on the settlement notice. When you select the “Confidential Disbursement Authorization” option, the document will display your payment information, attorney fees and expenses, if any expenses are listed, as per any attorney-client retainer agreement (the contract for services between the Trust Beneficiary or Other Legal Representative, which remains in full effect). The net distribution amount, also known as the payment, will be issued via electronic ACH or mailed check.

7. Where do I locate my Unique ID and PIN?

Your Unique ID and PIN are in the top-right corner of the settlement notice you received. If you are in the United States, the notice was sent by mail. If you are located outside the United States, the notice may have been sent by email.

Use the Unique ID and PIN shown on your notice to log in to the settlement website and access your payment information.

8. Is any action required to receive payment?

To receive payment, the Claimant (here, either a Trust Beneficiary or Other Legal Representative) must sign and complete a Confidential Disbursement Authorization form via DocuSign, upload valid government-issued ID to the client portal, and provide necessary identification, estate or other legal representative documentation (such as a Power of Attorney) if applicable.

The following steps are required:

• Login into the website with your unique ID and PIN.
• Confirm or update your contact information.
• Select to sign Confidential Disbursement Authorization electronically via DocuSign or request a physical copy be mailed to you.
• Complete and signed Confidential Disbursement Authorization Form.
• Upload a valid government-issued photo ID.
• After all required portal steps are completed, you may select your preferred payment method and enter the necessary payment information. (ACH or Check)
• If you opted for a physical form to be mailed, please execute return along with valid government-issued photo ID and if applicable supporting estate documentation to:

9. When will I receive my payment?

Payments will be issued only after verification is complete and all required documentation has been received and approved. Please allow 2 – 4 weeks for validation. Depending on the payment method selected, payment processing is 3 – 6 weeks after approval.

10. What if I am an Other Legal Representative and I received a notice?

If as an Other Personal Representative, such as a holder of a Power of Attorney or a Guardian acting on behalf of a minor, or are an heir of a deceased Trust Beneficiary (“Heir”) and you received a notice with a unique ID and PIN, to receive payment, you must sign and complete a Confidential Disbursement Authorization form via DocuSign, upload valid government-issued ID to the client portal, and provide necessary identification or estate documentation if applicable. This process is designed to ensure the proper person with the right authority signs the CDA form and receives payment on behalf of a Trust Beneficiary (judgment creditor).

The following steps are required:

• Login into the website with your unique ID and PIN.
• Confirm or update your contact information.
• Select to sign Confidential Disbursement Authorization electronically via DocuSign or request a physical copy be mailed to you.
• Complete and signed Confidential Disbursement Authorization Form.
• Upload a valid government-issued photo ID.
• After all required portal steps are completed, you may select your preferred payment method and enter the necessary payment information. (ACH or Check)
• If you opted for a physical form to be mailed, please execute return along with valid government-issued photo ID and if applicable supporting estate documentation to:

11. What if I am a recently became an Other Legal Representative or Heir, how do I receive my payment?

To be eligible, Other Legal Representatives must adhere to relevant state probate, trust and / or agency laws or regulations and submit the necessary documents, such as Power of Attorney, Letters of Administration, a copy of the trust agreement, along with a copy of a death certificate if applicable. If there is uncertainty regarding these requirements, please consult with your retained attorney.

Please have your attorney reach out to us at info@650settlementtrust.com to provide representation contact details and estate, trust or agency documents (such as a copy of the signed Power of Attorney). Upon receipt, Epiq will process the information and send a notice by mail to the confirmed person with the authority to act on behalf of a Trust Beneficiary containing a unique ID and PIN for accessing the portal at 650SettlementTrust.com.

As an Other Legal Representative, please follow the Claimant process to receive payment referenced - Is any action required to receive payment? – for the steps. The payment will be issued to the estate, trust or holder of the Power of Attorney via check or ACH.

12. Can I sign documents electronically?

Yes. The website supports DocuSign, allowing you to securely sign and submit the CDA form online. In addition, the website allows you to upload your valid government identification and, if relevant, any supporting estate documentation.

13. What if I do not wish to sign the documents electronically?

Once logged in, you can request Epiq mail you a paper copy of the CDA form. The completed and signed CDA, along with your valid government-issued photo ID, and any additional representative supporting documentation must be mailed to:

14. What if I need to update my contact information?

After logging into the website using your Unique ID and PIN, you will be able to confirm and/or update your contact information.

15. Who can I contact for additional assistance?

If you have questions or need assistance, contact the Trust Administrator’s support team at info@650settlementtrust.com or call 888-464-5255.