You are a good lawyer and a good person. . Log in to keep reading or access research tools. The Wind-Down Board will consist of three members: (i)Mr. Chin (the Wind-Down CEO), (ii)Mr. M. Freddie Reiss, and (iii)Mr. Richard Nevins. All holders of Liquidation Trust Interests are urged to consult with their tax advisors regarding their specific tax circumstances. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. the law may have an impact. The Liquidation Trust has made three distributions. Insufficient data to determine how WBQN.L performed against the. The Liquidation Trust does not know the timing or amount of the next distribution. Popular Searches Woodbridge Liquidation Trust You may always contact counsel to the Liquidation Trust using the contact information on this website. 4. R4"mz0#qH. When we realized this was a very bad investment - we did not know where to turn for help. If, on the other hand, you invested $1,000 in Notes or Units issued by Woodbridge, and were paid nothing in the past by Woodbridge, then your net claim for purposes of the Plan would have been the full $1,000 that you invested. The Liquidation Trust does not expect that Class B Liquidation Trust Interests will be registered under the Exchange Act. Class B Liquidation Trust Interests are subject to transfer restrictions that prohibit assignment or transfer by any holder thereof other than by will or intestate succession or otherwise by operation of law. You invested in Woodbridge through your IRA custodian. Mr. Goldberg was unanimously selected to be the Liquidation Trustee by the Unsecured Creditors Committee, the Noteholder Committee, and the Unitholder Committee. There are over $800 million in claims that need to share in distributions. You should contact Continental Stock Transfer & Trust Company. Mr. Chin has extensive consulting and restructuring experience and has led, operated, and advised under-performing and high-growth real estate companies. Michael Goldberg, Liquidation Trustee Yes. You guys are the best group of attorneys in the country that I could hire to handle this complicated case. If this applies to you, you should contact Continental Stock Transfer & Trust Company. Rather than spend significant time and money litigating these very complicated issues, the parties (including a fiduciary group for Unitholders) negotiated and settled upon allowance of claims for Unitholders at a 27.5% discount as compared to Noteholders claims. Michael I. Goldberg is the Liquidation Trustee. A second distribution was announced on January 3, 2020. Woodbridge's unsecured creditors (including investors holding notes and units) will receive interests in the Liquidation Trust ("Liquidation Trust Interests") which will entitle them to cash distributions over time from the Liquidation Trust. According to the complaint, Shapiro marketed promissory notes and other securities as low-risk, high-yield investments secured by high-interest real-estate loans to third-party commercial borrowers. Liquidation Trust Interests are maintained by the Liquidation Trustee (or his designee) in book entry form. Pachulski Stang Ziehl & Jones LLP, Counsel to Woodbridge Liquidation Trust Your Net Note Claim or Net Unit Claim was the amount of your claim in the Bankruptcy Case, which claim entitled you to Liquidation Trust Interests. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. For example, if a Noteholder and Unitholder both held $300 in claims, the Noteholder would have received four (4) Class A Liquidation Trust Interests ($300 / $75 = 4), whereas the Unitholder would have received 2.9 Class A Liquidation Trust Interests (($300 / $75) x .725 = 2.9). From the Desk of Jim Eccleston at Eccleston Law: Comerica Bank and investors who were harmed in Woodbridges $1.2 billion Ponzi scheme have won final approval of their $54.2 million settlement. Find the latest Woodbridge Liquidation Trust (WBQNL) stock quote, history, news and other vital information to help you with your stock trading and investing. If the real estate market goes up, then sale prices, and, by extension, cash available for distribution, will go up as well. Their phone number is 212-509-4000. Click to access Woodbridge-Press-Release-October-2021.pdf Share this: Twitter Facebook Loading. Woodbridges former CEO, Robert Shapiro, agreed to pay $120 million in disgorgement and Securities and Exchange Commission (SEC) fines in 2018. I just wanted to say thanks again for preparing and executing my case in such a professional manner. The distribution amounts to $5.63 per Class A Interest, and will be paid on or about July 15, 2022 to holders of record of Class A Interests as of close of business on June 30, 2022. Class A Liquidation Trust Interests were distributed to all holders of Allowed Class 3 Standard Note Claims, Allowed Class 4 General Unsecured Claims, and Allowed Class 5 Unit Claims. They are the best. Although the Plan was confirmed on October 26, 2018, the Plan required that certain conditions be satisfied in order for the Plan to be implemented and become effective.. In addition, the Trust has not completed the reconciliation of all claims, so it is possible that the percentage recoveries could change based on the final allowance of claims. Woodbridge Liquidation Trust engages in the liquidation of the assets and liabilities of Woodbridge Group of Companies, LLC and Its Affiliated Debtors. << Copyright 2023 Surperformance. Woodbridge Liquidation Trust (the "Trust") announced that its Liquidation Trustee, with the approval of the Trust's Supervisory Board, has declared an aggregate cash distribution of $40 million on the Trust's Class A Liquidation Trust Interests (the "Class A Interests").This amount includes a reserve of approximately $800,000 for amounts that are or may become payable (a) in respect of Class A . Woodbridge Liquidation Trust announced that its Liquidation Trustee, with the approval of the Trust's Supervisory Board, has declared an aggregate cash distribution of approximately $40 million on. Woodbridgeexpects that the process of liquidating all of the assets to be held by the Wind-Down Entity will take approximately two-to-three years. Unitholders also received Class B Liquidation Trust Interests for the other 27.5% of their Net Unit Claims, so that if there is more money available after payment of the Net Note Claims, Allowed General Unsecured Claims, and Net Unit Claims represented by the Class A Liquidation Trust Interests, then Unitholders will receive cash distributions on their Class B Liquidation Trust Interests until the remaining Net Unit Claims are paid. They entitle you only to cash distributions from the Liquidation Trust. Forward-looking statements include in this press release include statements regarding the sources, amounts, timing, likelihood, and frequency of future distributions. These statements, including (but not limited to) the statements relating to the future financial and operating results of the Liquidation Trust and Wind-Down Entity, are made under the "safe harbor" provisions of the U.S. Your professionalism, support and expertise were greatly appreciated. The Trust has tried, where possible, to use words such as "anticipate," "if," "believe," "estimate," "plan," "expect," "intend," "forecast," "initiative," "objective," "goal," "project," "outlook," "priorities," "target," "evaluate," "pursue," "seek," "potential," "continue," "designed," "impact," "may," "could," "would," "should," "will," and similar expressions to identify forward-looking statements. For detailed information regarding how Class A Liquidation Trust Interests may be transferred from the books and records of Continental to the holders securities broker, holders should contact Continental Stock Transfer & Trust Company. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. I appreciate your help, concern and guidance. Continentals phone number is 212-509-4000. Prudential Improperly Collected Life Insurance Premiums and Informed Claimants They Were Ineligible, SEC Releases Final Reg BI Staff Bulletin Addressing Duty of Care, These Two State Regulators Serve as Financial Markets Primary First Responders. The parties reached a settlement AI-powered legal analytics, workflow tools and premium legal & business news. If you are being bothered by the Regulators, call Eccleston Law, you won't regret it. The Liquidation Trustee will be Mr. Michael Goldberg, who was a member of the Bankruptcy Court-approved independent Board of Managers of the Woodbridge debtors in their chapter 11 cases (and was designated to such Board by the United States Securities and Exchange Commission), and who was unanimously selected as the Liquidation Trustee by the Official Committee of Unsecured Creditors, the Ad Hoc Group of Noteholders, and the Ad Hoc Group of Unitholders. If you are in a situation where you've been unfairly accused, don't hesitate to talk with Eccleston Law. Forward-looking statements are based on currently available business, economic, financial and other information and reflect management's current beliefs, expectations and views with respect to future developments and their potential effects on the Liquidation Trust and Wind-Down Entity. Log in to keep reading or access research tools. Thank you, Thank you, THANK YOU! The distribution amounts to $3.44 per Class A Interest, and will be paid on or about October 29, 2021 to holders of record of Class A Interests as of close of business on October 22, 2021. Woodbridge Liquidation Trust : Completion of Acquisition or Disposition of Assets (form 8-.. Woodbridge Liquidation Trust : Entry into a Material Definitive Agreement, Change in Direc.. WOODBRIDGE LIQUIDATION TRUST Management's Discussion and Analysis of Financial Conditi.. Woodbridge Liquidation Trust : Other Events (form 8-K). Woodbridge Liquidation Trust is a Delaware statutory trust that, together with its wholly-owned subsidiary Woodbridge Wind-Down Entity LLC, was formed on February 15, 2019 to implement the terms of the First Amended Joint Chapter 11 Plan of Liquidation dated August 22, 2018 of Woodbridge Group of Companies, LLC and Its Affiliated Debtors (the "Plan"). We will have a full report soon. The effective date of the Plan (the "Effective Date") was February 15, 2019. No paper certificates evidencing the Liquidation Trust Interests are expected to be distributed, but you may contact Continental Stock Transfer & Trust Company for a statement of your holdings.

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