PLEASE READ THE FOLLOWING:

 

FINAL DECREE
CLICK HERE FOR DOCUMENTS

 

FINAL DISTRIBUTION

A SECOND AND FINAL DISTRIBUTION IS BEING MADE ON OR ABOUT AUGUST 11, 2006. Creditors will receive $.0006276 per dollar of allowed claims, which means, that for each ten thousand dollars of allowed claims, you will receive $6.28. Please note that as set forth in the Debtor’s Joint Plan of Liquidation, confirmed by Order of the Bankruptcy Court dated July 14, 2004, no payment will be made to any creditor if such payment would be less than $5.00. Therefore, claimants with allowed claims of less than $7,962.29 will not receive a second distribution payment. Further pursuant to the Plan, creditors that did not cash their first distribution check are not entitled to a second distribution.

If you meet the above criteria and do not receive your second distribution check by September 8, 2006, please notify the claims agent, The Garden City Group, Inc. by emailing them at cybclaimdocs@gardencitygroup.com. Requests for replacement checks can only be made by email, and must include your name, claim number, the last four digits of your SSN/TIN number (required for identification purposes) and current mailing address.

The deadline for requesting a replacement check is November 15, 2006.

If your check is not cashed by November 15, 2006, it will be considered forfeited.

 

 

DISTRIBUTION CHECKS ARE IN THE MAIL

Distributions to creditors (including rebate claimants) are being mailed beginning April 22, 2005. Creditors will receive $.08802 per dollar of allowed claims, which means, that for each one hundred dollars of allowed claims, you will receive $8.80.

Please note that as set forth in the Plan, no payment will be made to any creditor if such payment would be less than $5.00. Therefore, claimants with allowed claims of less than $56.81 will not receive distributions.

Unless otherwise ordered by the Bankruptcy Court, only creditors who filed claims electronically have an allowed claim. Unless you have received notice to the contrary, your allowed claim is equal to the amount you filed.

Please negotiate your check promptly. As set forth on the check, the checks are valid for only 90 days after issuance (i.e., until July 21, 2005). After that, they are null and void and should not be deposited as they will bounce.

If you do not receive your distribution check by May 22, 2005, you may request a replacement check by notifying the Garden City Group, the disbursing agent, no later than July 22, 2005 by sending an email to cybclaimdocs@gardencitygroup.com. Please note that emails received prior to May 22, 2005 will not be acted upon. Do not send emails to claims@cyberrebate.com as that email address is no longer being monitored.

In order to receive a replacement check, your email must provide your name, claim number, the last four digits of your SSN/TIN number (required for identification purposes) and current mailing address. Replacement checks will not be mailed before August 5, 2005. If your current mailing address is different from the address on file, you will be charged $2.37 (deducted from the distribution) to defray the cost of preparing and mailing the replacement check.

As set forth above, the distribution checks are valid until July 21, 2005. Therefore, even if you have requested a replacement check, you may still deposit the original check up to July 21, 2005.

This will be your only distribution check unless some creditors do not cash their checks by July 21, 2005, in which case a second distribution may be made.


RECENT DEVELOPMENTS

the settlement agreement regarding the litigation against cyberrebate's former owners and directors has been approved by the court.

At a hearing on July 14, 2004, the CyberRebate.com Joint Plan of Liquidation was confirmed by the Bankruptcy Court. Click here for a copy of the Confirmation Order.

PLEASE NOTE THAT EFFECTIVE JULY 8, 2004 AMENDED PROOFS OF CLAIM CAN NO LONGER BE FILED.  CLICK HERE FOR A COPY OF THE BANKRUPTCY COURT ORDER.

CLICK HERE FOR INFORMATION REGARDING THE PLAN AND DISCLOSURE STATEMENT AND RELATED MATTERS.

The settlement with Yahoo, whereby the Estate will receive $300,000, has been approved by the Bankruptcy Court.

At a hearing on August 8, 2002, the Bankruptcy Court approved the motion as to how future notices will be provided.  In the future, except for notices of (a) the hearing upon the adequacy of any disclosure statement; (b) the hearing upon confirmation of any plan of reorganization proposed, including voting thereon; (c) any bar date for filing proofs of claims in Debtor's case; and (d) any other instance wherein this Court deems additional notice to be necessary; notices of all other matters will be limited to posting on the Debtor's Web site.  IT IS RECOMMENDED THAT YOU LOG ONTO THE WEB SITE AT WWW.CYBERREBATE.COM ONCE EACH WEEK TO OBTAIN INFORMATION ON DEVELOPMENTS, MOTIONS AND PROPOSED ORDERS.


FREQUENTLY ASKED QUESTIONS: CYBERREBATE.COM, INC.

ABOUT THE BANKRUPTCY PROCEEDING:

1) When did CyberRebate.com, Inc. file its bankruptcy?

A petition under Chapter 11 of the Bankruptcy Code was filed by CyberRebate.com, Inc. on May 16, 2001 in the United States Bankruptcy Court for the Eastern District of New York. The case number is 101-16534-608, and the case has been assigned to bankruptcy judge Carla E. Craig.

ABOUT REBATES:

2) What about my unpaid rebates?

Under the Bankruptcy Code, rebates which remained unpaid as of the bankruptcy filing are frozen along with the rest of CyberRebate's pre-filing liabilities.

3) Why did some rebate checks bounce? Will replacement checks be issued?

Under the Bankruptcy Code, checks issued prior to the filing date and presented for payment following the filing date cannot be honored.


INFORMATION ABOUT THE BANKRUPTCY

4) How can I find out more about CyberRebate.com, Inc.'s bankruptcy proceeding?

For additional information about our bankruptcy, visit the Bankruptcy Court Web site at www.nyeb.uscourts.gov. Click on the "CyberRebate Info." link and read the latest announcement posted there by the Bankruptcy Court.

5) Who is representing the creditors of CyberRebate.com, Inc.? How can I reach them?

The law firm of Bryan Cave LLP (formerly Robinson Silverman Pearce Aronsohn & Berman LLP) has been appointed to represent the Official Committee of Unsecured Creditors, which committee includes former CyberRebate customers who may be owed rebates.

ABOUT RETURNS:

6) Can I return products I've already received?

For a number of reasons, CyberRebate cannot accept returns of merchandise. Therefore, no returns should be sent either to CyberRebate's corporate offices or to the warehouse from which orders were processed. Any returns sent may not be properly received or returned to you.

ADDITIONAL INFORMATION

7) Where is the rebate status information?

For a certain period following the bankruptcy, CyberRebate had posted customer account information, including purchase history and rebate information, at its Web site. That service is no longer available.

8) How was the lawsuit between CyberRebate and Paymentech resolved?

Pursuant to a Stipulation and Agreed Order Settling Adversary Proceeding (the "Stipulation") approved by the Bankruptcy Court on November 14, 2001, CyberRebate, Paymentech Merchant Services, LLC ("Paymentech"), which was one of CyberRebate's former credit card processors, and the Official Committee of Unsecured Creditors agreed as follows:

  1. the litigation between CyberRebate and Paymentech was dismissed with prejudice;
  2. Paymentech: (i) received $4,150,000 from CyberRebate and (ii) applied the $4,571,098 remaining in the reserve account maintained by Paymentech (collectively the "Settlement Amount") in payment of its claim against CyberRebate for chargebacks to credit card customers;
  3. if the Paymentech claim, as ultimately allowed after all chargebacks are finalized (the "Allowed Claim") is less than the Settlement Amount, then Paymentech will refund the difference to CyberRebate's estate;
  4. if the Allowed Claim is greater than Settlement Amount, Paymentech will not share in any distribution until the other unsecured general creditors receive a distribution of 10% of their allowed claims; and
  5. to an exchange of releases including the termination by Paymentech of all liens against CyberRebate's assets.

Please note that Paymentech has filed a Proof of Claim in excess of the Settlement Amount.