Here is Janice's response to the most important question which is " why did COR get the bill for the cash divy"?

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Do you happen to know the answer to this question then please...why did COR get the bill for the cash divie to pay?

I still haven't found anyone who can offer an explanation of how the clearing process works. But I think what happened was something like this:

Nobilis had a CRGP convertible note. (There's no record of that note in the company's financials, but never mind for now.)

In late July, Nobilis decided to convert the note and sell the resulting stock. It sold through its broker, JH Darbie, and the transaction was cleared by COR.

So far, so good. But COR claims the stock sold shouldn't have had due bills for the dividend attached. I think COR was wrong about that, not realizing it was a special dividend. So… Was COR supposed to attach due bills, and failed to do so?

If that's it, then when the ex date hit, the stock sold by Nobilis to CRGP or its affiliates had no due bills, but did qualify for the dividend. DTCC realized a mistake had been made, and sent a bill to COR.

That sort of makes sense, but I'd still like to know exactly how the process works.

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