As a result of their experience and tenacity, the arbitration proceeding was dismissed in my favor. Mr. Goldberg has served as court-appointed receiver in many cases over the past two decades, helping maximize returns to victims by identifying, securing, and monetizing potential assets as quickly and efficiently as possible. 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.. Michael I. Goldberg is the Liquidation Trustee. When that total amount is divided equally among Class A Liquidation Trust Interests, it equals $2.12 for each Class A Liquidation Trust Interest. Any additional distributions will take place as and when sufficient excess cash is available and subject to the terms and condition of the Plan and the Liquidation Trust Agreement. At this time, the Liquidation Trust does not know the timing or amount of the next distribution. MarketScreener: Created by Investors for Investors! Copies of the Plan and all other Court documents may be examined free of charge on the website of the Debtors' claims agent at http://cases.gardencitygroup.com/wgc. How did WBQN.L perform over the long term? The netting referred to above was required in order to treat all investors fairly in light of the fact that Woodbridge was operated as a Ponzi scheme. Woodbridge Group of Companies, LLC announced that it has emerged from Chapter 11 bankruptcy following confirmation of its liquidation plan. 4. You may always contact counsel to the Liquidation Trust using the contact information on this website. Comerica, Woodbridge Ponzi Victims' $54.2 Million Deal Approved Find the latest Woodbridge Liquidation Trust (WBQNL) stock quote, history, news and other vital information to help you with your stock trading and investing. This press release may contain forward-looking statements. 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. The Trust is the owner of those claims. >> Continentals email address iscstmail@continentalstock.com. Michael Goldberg, Liquidation Trustee I learned two important things working with Eccleston Law. You invested in Woodbridge through your IRA custodian. For the third distribution, the Liquidation Trust declared a distribution of $25,000,682, in the aggregate, to holders of Class A Liquidation Trust Interests (including amounts reserved for claims not yet resolved). First, I made a friend and ally with Jim and Steph for life. 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. Woodbridge Liquidation Trust engages in the liquidation of the assets and liabilities of Woodbridge Group of Companies, LLC and Its Affiliated Debtors. Thank you so very much for your guidance, patience, and expertise. In addition, the Liquidation Trust Supervisory Board will consist of five membersthree selected by the Official Committee of Unsecured Creditors, and one each selected by the Ad Hoc Group of Noteholders and the Ad Hoc Group of Unitholders. Frederick Chin is the Wind-Down CEO. March 20, 2019 - Distribution Confirmed for First Quarter 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. Woodbridge Liquidation Trust Declares Cash Distribution on Class A from 8 AM - 9 PM ET. As of December 24, 2019, Class A Liquidation Trust Interests are freely transferable to the extent permissible under applicable law. The custodian is the holder of legal title to the funds, and the Liquidation Trust must make distributions to the holder of legal title. Woodbridge Liquidation Trust Announces Cash Distribution, Payable on or If so, the distribution has been sent to your IRA custodian. Please do not rely on information found on Who is Woodbridge Liquidation Trust Headquarters 201 E Las Olas Blvd Ste 1800, Fort Lauderdale, Florida, 33301, United States Phone Number (310) 765-1550 Website www.woodbridgeliquidationtrust.com Revenue <$5M Stock Symbol WBQNL Industry Investment Banking Finance Is this data correct? 919 North Market Street17th Floor 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). The Liquidation Trustee is unable to provide tax advice. Wilmington DE 19801 The first distribution equals payment of approximately 5% of each Net Note Claim, and payment of approximately 3.6% of each Net Unit Claim. 201 East Las Olas Boulevard If you are in a situation where you've been unfairly accused, don't hesitate to talk with Eccleston Law. Mr. Chin has extensive consulting and restructuring experience and has led, operated, and advised under-performing and high-growth real estate companies. SEC.gov | HOME Two state securities regulators frequently stand out as First Responders.. 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. this site without consulting a lawyer to determine if any recent changes in 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. | March 12, 2023 . 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. The current members of the Liquidation Trust Supervisory Board are: Jay Beynon, Dr. Raymond C. Blackburn, Terry Goebel, Lynn Myrick, John J. ONeill, and M. Freddie Reiss. 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. The foregoing was an integral part of the Plan negotiated by, among others, the Noteholder Committee and the Unitholder Committee. In addition, the projected recoveries do not include net cash generated by claims (e.g., lawsuits) that have been asserted by the Liquidation Trustee against third parties and have not yet been resolved, the prosecution or settlement of which may increase the cash available for distribution. Based on the most recent estimates published by the Liquidation Trust, in December 2019, there will be no distributions on account of Class B Liquidation Trust Interests. Prior to the Effective Date, Mr. Goldberg served as a member of the Debtors independent Board of Managers, and had been the SECs designee to that Board. stream Additional information regarding the Liquidation Trust, including selected filings made with the United States Securities & Exchange Commission, can be found on the top of this page under Selected SEC Filings. For answers to other questions, you may contact counsel to the Liquidation Trust at (310) 203-4271, extension 4271. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. Please be aware, however, that no information will be provided regarding future distribution timing or amounts other than that which is available on this website, and no advice will be given regarding IRA or tax issues. You are very good at what you do. The Plan was confirmed by order of the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") on October 26, 2018. 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). For this we are so very grateful. Now, I know the value of hiring an important partner. Woodbridge agreed to pay nearly $890 million in disgorgement in late 2018. It has opened an account for you and will be keeping the record of your Liquidation Trust Interests. The third distribution was announced on April 1, 2020. I've never had to hire an attorney for anything. You guys are the best group of attorneys in the country that I could hire to handle this complicated case. 4 0 obj Continentals phone number is 212-509-4000. Press reports regarding the settlement between the Securities and Exchange Commission (SEC) and Robert Shapiro created a great deal of confusion. We just wanted to say thanks for your work in helping us get back some of the money we lost. The trustee of the Woodbridge Liquidation Trust has brought a $500 million+ lawsuit against the lawyers and law firms that it alleges helped facilitate the Woodbridge Ponzi scheme. Pollard PLLC Follow Advertisement Advertisement Recommended USSC 13-894 Amicus Brief Mario Cometti 72 views 35 slides 4. 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 . This amount includes a reserve of approximately $850,000 for amounts . If you elected to contribute your claims, you may not pursue such claims individually. 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. So netting treated prior payments as a return of investor victims principal, as they could not be considered legitimate investment return on principal (interest or dividends). I am grateful to have found an outstanding law firm that specializes in securities matters. 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.
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