woodbridge liquidation when will money be distributed

Michael Goldberg, Liquidation Trustee We really appreciate the work you did. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. I want to thank you for your excellent professional representation. Awesome job! https://www.woodbridgeliquidationtrust.com, See historical performance and comparison, Capital Markets Industry Average Movement. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. The Wind-Down Entitys assets are largely composed of real estate, including homes under construction. 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. The Plan was confirmed by order of the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") on October 26, 2018. Woodbridges unsecured creditors (including investors holding notes and units) received interests in the Liquidation Trust, which entitle them to cash distributions over time from the Liquidation Trust. Jim, Stephany and the whole team were a God send. 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. Insufficient data to determine how WBQN.L performed against the. All forward-looking statements speak only as of the date they were made. If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it. Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters. Return vs Industry: Insufficient data to determine how WBQN.L performed against the US Capital Markets industry. Liquidation Trust Interests are maintained by the Liquidation Trustee (or his designee) in book entry form. Hiring Eccleston Law has been one of the best career decisions I have made and this "investment" to maintain my sterling regulatory record has been returned many times over. It was a pleasure to watch two professionals take such pride in their work, as well as becoming personally in tune with your client (Me). the law may have an impact. I cannot thank you enough for your efforts. If a Unitholder held $50,000 in Net Unit Claims, and thus received 483.33 Class A Liquidation Trust Interests, that claimant would have received approximately $5,012, comprised of (i)approximately $1,812 as part of the initial distribution (483.33 * $3.75 = $1,812.49), (ii)approximately $2,175 as part of the second distribution (483.33 * 4.50 = $2,174.99), and (iii)approximately $1,024 as part of the third distribution (483.33 * $2.12 = $1,024.66). He is a fantastic lawyer and trusted advisor. Under the Plan, for purposes of determining your pro rata share of cash distributions, your claim was calculated net of any prior distributions or payments that you may have received from Woodbridge in connection with any Notes or Units (other than return of principal or capital which already has been applied to reduce your claim). I've never had to hire an attorney for anything. If you purchased your investment in Woodbridge through a custodial account, such as an IRA, then the Liquidation Trust will make any distributions to your custodian. SOURCE Woodbridge Group of Companies, LLC, Cision Distribution 888-776-0942 13-894 bsac Blacks in Government (BIG) et al. The Plan, which enjoyed overwhelming support from creditors, provides for the creation of two entities: (i) a Wind-Down Entity, which will own many of Woodbridge's assets (including all real property) and will sell those assets to generate cash, and (ii) a Liquidation Trust, which will own the Wind-Down Entity and receive cash generated by the Wind-Down Entity, and will own estate claims and causes of action. Accordingly, the Trust cannot guarantee that any forward-looking statements will be realized, as actual result may differ materially from those identified or implied in any forward-looking statement. 4 0 obj I just received this letter from the CFP Board. In this press release, all statements that are not purely historical facts are forward-looking statements. LOS ANGELES, Feb. 19, 2019 /PRNewswire/ --Woodbridge Group of Companies, LLC (together with its affiliated debtors, "Woodbridge") announced today that, effective as of February 15, 2019, it has emerged from chapter 11 bankruptcy following confirmation of its plan of liquidation (the "Plan") by the United States Bankruptcy Court for the District of Delaware on October 26, 2018. Log in to keep reading or access research tools. R4"mz0#qH. The prosecution of litigation and the distribution of cash by the Liquidation Trust is being administered primarily by the Liquidation Trustee. /Filter /FlateDecode The Liquidation Trust is investigating and may pursue appropriate claims against Robert Shapiro and his affiliates, including claims assigned to the Liquidation Trust by investors who made such election on their Ballots. The Plan may be accessed free of charge here, The Bankruptcy Court order confirming the Plan (the Confirmation Order) was entered on October 26, 2018 (the Confirmation Date). Investors who lost money to the scam argued that Comerica, which maintained all of AI-powered legal analytics, workflow tools and premium legal & business news. Mr. Goldberg has managed some of the largest Ponzi scheme liquidation recoveries in U.S. history. There was a significant dispute in the bankruptcy cases regarding whether the Units actually were claims, or instead were equity (ownership interests) in the Debtors (in which case Unitholders would have been entitled to be paid nothing). When we realized this was a very bad investment - we did not know where to turn for help. You made a difficult situation much more bearable. This amount includes a reserve of approximately $850,000 for amounts . Accordingly, even including distributions already made, the Liquidation Trust cannot pay all creditors in full, absent significant success in pursuing litigation claims. Does not have a meaningful market cap ($32M), Capture your thoughts, links and company narrative. We will always remember all the help and kindness you have shown us. The Liquidation Trustee of the Trust is Michael Goldberg. If a Unitholder held $300 in Net Unit Claims, and thus received 2.9 Class A Liquidation Trust Interests, that claimant would have received approximately $30.07, comprised of (i)$10.87 as part of the first distribution (2.9 * $3.75 = $10.87), (ii)$13.05 as part of the second distribution (2.9 * 4.50 = $13.05), and (iii)$6.15 as part of the third distribution (2.9 * $2.12 = $6.15). If a Noteholder held $50,000 in Net Note Claims, and thus received 666.66 Class A Liquidation Trust Interests, that claimant would have received approximately $6,913, comprised of: (i)approximately $2,500 as part of the first distribution (666.66 * $3.75 = $2,499.97), (ii)approximately $3,000 as part of the second distribution (666.66 * 4.50 = $2,999.97), and (iii)approximately $1,413 as part of the third distribution (666.66 * $2.12 = $1,413.32). As part of this fraud, Shapiro, through the Woodbridge entities, raised over one billion dollars from approximately 10,000 investorsas either noteholders or unitholders. The Liquidation Trustee of the Trust is Michael Goldberg. Click to access Woodbridge-Press-Release-October-2021.pdf Share this: Twitter Facebook Loading. Based on the estimated net assets in liquidation for the Trust as of December 31, 2019, there will be no distributions on account of Class B Liquidation Trust Interests. As you may have read, in October 2019 Robert Shapiro was sentenced to 25 years in prison. The Securities and Exchange Commission (SEC) recently published a final staff bulletinon Regulation Best Interest (Reg BI), this time highlighting the duty of care, with the goal ofdefinitively outlining financial advisors ethical responsibilities. You may always contact counsel to the Liquidation Trust using the contact information on this website. 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. I am grateful to have found an outstanding law firm that specializes in securities matters. You guys are the best group of attorneys in the country that I could hire to handle this complicated case. Specifically, he has experience managing and enhancing liquidity and developing and implementing turnaround improvement plans and processes to achieve operational efficiency and increase accountability. 919 North Market Street17th Floor Holders of Allowed Class 3 Standard Note Claims and Allowed Class 4 General Unsecured Claims received one (1) Class A Liquidation Trust Interest for each $75.00 of Net Note Claims or Allowed General Unsecured Claims held by such creditor. Actual results could vary materially depending on risks and uncertainties that may affect the Liquidation Trust and Wind-Down Entity, including, but not limited to, local, national, and international economic conditions; the supply and demand for properties; the financial conditions for tenants, buyers, and sellers of properties; changes in interest rates; changes in environmental laws or regulations, planning laws and other governmental roles and fiscal and monetary policies; changes in real property tax rates and related tax deductions; negative developments in the economy that depress travel and retail activity; uninsured casualties; force majeure acts, terrorist events, under-insured or uninsurable losses; and other factors that are beyond the reasonable control of the Liquidation Trust and the Wind-Down Entity. As of December 24, 2019, Class A Liquidation Trust Interests are freely transferable to the extent permissible under applicable law. If you are in a situation where you've been unfairly accused, don't hesitate to talk with Eccleston Law. Woodbridge Liquidation Trust engages in the liquidation of the assets and liabilities of Woodbridge Group of Companies, LLC and Its Affiliated Debtors. Once the Companys remaining real property assets have been liquidated and the net proceeds resulting therefrom, net of reserves, have been distributed, further distribution(s) are expected to be materially reliant on future recoveries from litigation. The Board of Managers of the Wind-Down Entity oversees the Wind-Down CEO to the extent set forth in the Wind-Down LLC Agreement. However, as noted in the answer to the previous question, holders of Allowed Class 5 Unit Claims received fewer Class A Liquidation Trust Interests relative to holders of Allowed Class 3 Standard Note Claims and Allowed Class 4 General Unsecured Claims. Meticulous, thorough and detailed in preparation is the best way to describe Jim. 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. Woodbridge Liquidation Trust (the Trust) announced that its Liquidation Trustee, with the approval of the Trusts Supervisory Board, has declared an aggregate cash distribution of approximately $40 million on the Trusts Class A Liquidation Trust Interests (the Class A Interests). He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. Holders of Allowed Class 5 Unit Claims also received Class B Liquidation Trust Interests on account of the remaining 27.5% of their unit claims. Call us now for immediate service, or complete the form below and we will contact you as soon as possible. Holders of Allowed Class 5 Unit Claims received 72.5% of one (1) Class A Liquidation Trust Interest and 27.5% of one (1) Class B Liquidation Trust Interest for each $75.00 of Net Unit Claims held by such Unitholder. Thank you, Thank you, THANK YOU! Bradford Sandler, Esq. Then we received your name. The Liquidation Trust will use its commercially reasonable best efforts to cause registration of the Class A Liquidation Trust Interests under the Securities Exchange Act of 1934 (the "Exchange Act") to become effective, and for the Class A Liquidation Trust Interests to be quoted with an OTC ticker symbol, as soon as reasonably practicable after the Effective Date, but in no event will the Liquidation Trust file such registration statement any later than may be required under section 12(g) of the Exchange Act or the rules and regulations promulgated thereunder. Continentals email address iscstmail@continentalstock.com. When that total amount is divided equally among Class A Liquidation Trust Interests, it equals $3.75 for each Class A Liquidation Trust Interest. MarketScreener: Created by Investors for Investors! Wilmington DE 19801 Liquidation Trust Interests issued after one or more distribution(s) will receive catch-up payments on account of any such prior distribution(s). Copyright 2023 Surperformance. He previously served as the Debtors CEO for most of the Debtors chapter 11 cases. Before the Effective Date, Pachulski Stang Ziehl & Jones LLP served as counsel to the Official Committee of Unsecured Creditors (the Committee) in the Debtors chapter 11 bankruptcy cases. (310) 203-4271, Reports and Letters by the Liquidation Trustee, Change Of Name or Address/Registration Of Transfers, https://woodbridgeliquidationtrust.com/wp-content/uploads/2020/10/Press_Release_10-8-20-1.pdf, Woodbridge Liquidation Trust - 2022 Grantor Letter. As the Company is approaching the end of its real estate portfolio liquidation activities and has only a small number of real estate assets remaining, I would remind all investors in the Trust that future distributions will be limited. WOODBRIDGE LIQUIDATION TRUST Michael I. Goldberg, Liquidation Trustee 201 North Brand Boulevard, Unit M Glendale, California 91203 February 8, 2022 FOR IMMEDIATE RELEASE: Contact: Michael I. Goldberg, Liquidation Trustee Woodbridge Liquidation Trust Tel: 1-310-765-1550 Woodbridge Liquidation Trust Announces Cash Distribution GLENDALE, . If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Eccleston Law Firm.