As of December 24, 2019, Class A Liquidation Trust Interests are freely transferable to the extent permissible under applicable law. Popular Searches Woodbridge Liquidation Trust He is currently serving that sentence. The effective date of the Plan (the Effective Date) was February 15, 2019. Suite 1800 Pachulski Stang Ziehl & Jones LLP, Counsel to Woodbridge Liquidation Trust Court Orders $1 Billion Judgment Against Operators of Woodbridge Ponzi Continentals email address iscstmail@continentalstock.com. I just wanted to say thanks again for preparing and executing my case in such a professional manner. With the availability of DRS services, registered holders of Class A Liquidation Trust Interests are able to electronically transfer their Class A Liquidation Trust Interests from Continental Stock Transfer & Trust Company to the holders securities broker so that market trades can be executed by the broker at the instructions of the holder. As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. Mr. Goldberg is regularly recommended to serve as receiver to district courts by the SEC in connection with SEC receivership cases and has served as a receiver for the SEC in approximately 20 cases in the past 20 years. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. This amount includes a reserve of approximately $900,000 for amounts that are or may become payable in respect of Class A Interests that may be issued in the future upon the allowance of unresolved bankruptcy claims, in respect of Class A Interests issued on account of recently allowed bankruptcy claims, to holders of Class A Interests who failed to cash checks mailed in respect of previous distributions, as distributions withheld due to pending avoidance actions, and to holders of Class A Interests from whom the Trust is awaiting further beneficiary information. All rights reserved. Here's a link to read more. 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). The Trust is a Delaware statutory trust. Claims that are not Allowed Claims as of that time will not participate in that initial distribution, but reserves for such Claims will be maintained. 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. If you elected to contribute your claims and have received a payment with respect to your notes or units following the chapter 11 case commencement other than from the Trust, you should contact the Trust immediately for instructions on paying over to the Trust the amount you received or to make other arrangements for such amount to be recouped by the Trust. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "project," "plan," "estimate," "intend," "potential" and other similar expressions. Woodbridge Emerges from Bankruptcy; Targets Initial Cash Distribution Insufficient data to determine how WBQN.L performed against the. I've never had to hire an attorney for anything. All holders of Liquidation Trust Interests are urged to consult with their tax advisors regarding their specific tax circumstances. 919 North Market Street17th Floor It is the most important legal business decision you will ever make, make it Eccleston Law. No. If you are in a situation where you've been unfairly accused, don't hesitate to talk with Eccleston Law. Return vs Industry: Insufficient data to determine how WBQN.L performed against the US Capital Markets industry. If so, the distribution has been sent to your IRA custodian. 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. Woodbridge Group of Companies, LLC announced that it has emerged from Chapter 11 bankruptcy following confirmation of its liquidation plan. Thank you for your professional assistance with this matter. The purpose of the Trust is to prosecute various causes of action acquired by the Trust pursuant to the Plan, to litigate and resolve claims filed against the debtors under the Plan, to pay allowed administrative and priority claims against the debtors (including professional fees), to receive cash from certain sources and, in accordance with the Plan, to make distributions of cash to holders of interests in the Trust subject to the retention of various reserves and after the payment of Trust expenses and administrative and priority claims. Today's announcement effectuates a global settlement negotiated between the Woodbridge debtors (managed by a Bankruptcy Court-approved independent Board of Managers), the Official Committee of Unsecured Creditors, the Ad Hoc Group of Noteholders, and the Ad Hoc Group of Unitholders, which settlement is embodied in the Plan. Three of these individuals were nominated to the Liquidation Trust Supervisory Board by the Committee, one member was nominated by each of the Unitholder Committee and the Noteholder Committee, and the sixth member (Mr. Reiss) was elected by the other five members. The prosecution of litigation and the distribution of cash by the Liquidation Trust is being administered primarily by the Liquidation Trustee.