Far & Wide Info

Dear Consumers and Travel Agents:

After efforts to amicably resolve the dispute proved unsuccessful, the Liquidating Trustee filed a complaint against Far & Wide’s former officers and directors in the United States District Court for the Southern District of Florida, alleging various breaches of fiduciary duties to the creditors of Far & Wide. The defendants filed a motion to dismiss the litigation, which was opposed and argued by the parties before Judge Gold in Miami. We expect a decision on the motion shortly. If the defendants’ motion to dismiss is denied and a settlement cannot then be reached, necessary depositions, interrogatories, pre-trial motions and a trial could take years to conclude. Our attorneys do not believe the Court should grant the defendants’ motion to dismiss. However, if the Court were to rule in favor of the defendants and if the Liquidating Trustee’s likely appeal of that ruling proves unsuccessful, the case would be concluded without a recovery.

We will continue to keep you updated about the developments.

Sincerely,

IMPORTANT FAR & WIDE INFO

An Update from Robert E. Whitley, President of USTOA on the Far & Wide Bankruptcy