Articles from Woodbridge Liquidation Trust
Woodbridge Liquidation Trust Announces Final Distribution of Forfeited Assets to Qualifying Victims1
As previously disclosed, on September 19, 2024, the Supervisory Board of Woodbridge Liquidation Trust (the “Trust”) approved a distribution in the amount of approximately $4,100,000 out of the net sales proceeds of the Trust’s remaining Forfeited Assets. This distribution, which represents approximately $4.65 per $1,000 of Total Net Qualifying Victim Claims2, is being made solely to Qualifying Victims in accordance with the Trust’s agreement with the Department of Justice. Qualifying Victims are expected to receive payments in respect of this distribution beginning on or about December 20, 2024.3
By Woodbridge Liquidation Trust · Via Business Wire · December 3, 2024
Woodbridge Liquidation Trust Announces Cash Distribution
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 $25 million on the Trust’s Class A Liquidation Trust Interests (the “Class A Interests”). This amount includes a reserve of approximately $120,000 for amounts that are or may become payable (a) in respect of Class A Interests that may be issued in the future upon the allowance of unresolved bankruptcy claims, (b) in respect of Class A Interests issued on account of recently allowed claims, (c) for holders of Class A Interests who failed to cash checks mailed in respect of prior distributions, (d) for distributions that were withheld due to pending avoidance actions, and (e) to holders of Class A Interests for which the Trust is awaiting further beneficiary information.
By Woodbridge Liquidation Trust · Via Business Wire · May 11, 2023
Woodbridge Liquidation Trust Announces Cash Distribution
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 $65 million on the Trust’s Class A Liquidation Trust Interests (the “Class A Interests”). This amount includes a reserve of approximately $850,000 for amounts that are or may become payable (a) in respect of Class A Interests that may be issued in the future upon the allowance of unresolved bankruptcy claims, (b) in respect of Class A Interests issued on account of recently allowed claims, (c) for holders of Class A Interests who failed to cash checks mailed in respect of prior distributions, (d) for distributions that were withheld due to pending avoidance actions, and (e) to holders of Class A Interests for which the Trust is awaiting further beneficiary information.
By Woodbridge Liquidation Trust · Via Business Wire · June 16, 2022
Woodbridge Liquidation Trust Announces Cash Distribution
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 Interests that may be issued in the future upon the allowance of unresolved bankruptcy claims, (b) in respect of Class A Interests issued on account of recently allowed bankruptcy claims, (c) to holders of Class A Interests who failed to cash checks mailed in respect of previous distributions, (d) as distributions withheld due to pending avoidance actions, and (e) to holders of Class A Interests from whom the Trust is awaiting further beneficiary information.
By Woodbridge Liquidation Trust · Via Business Wire · February 8, 2022
Woodbridge Liquidation Trust Announces Cash Distribution
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 approximately $40 million on the Trust’s Class A Liquidation Trust Interests (the “Class A Interests”). This amount includes a reserve of approximately $900,000 for amounts that are or may become payable (a) in respect of Class A Interests that may be issued in the future upon the allowance of unresolved bankruptcy claims, (b) in respect of Class A Interests issued on account of recently allowed bankruptcy claims, (c) to holders of Class A Interests who failed to cash checks mailed in respect of previous distributions, (d) as distributions withheld due to pending avoidance actions, and (e) to holders of Class A Interests from whom the Trust is awaiting further beneficiary information.
By Woodbridge Liquidation Trust · Via Business Wire · October 8, 2021
Woodbridge Liquidation Trust Announces Cash Distribution
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 approximately $30,000,000 on the Trust’s Class A Liquidation Trust Interests (the “Class A Interests”). This amount includes a reserve of approximately $600,000 for the issuance of additional Class A Interests based on estimated bankruptcy claims subject to future allowance pursuant to 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”).
By Woodbridge Liquidation Trust · Via Business Wire · May 14, 2021