GLENDALE, Calif.–(BUSINESS WIRE)–June 16, 2022–
Woodbridge Liquidation Trust (the “ Trust » » » 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 interest that may be issued in the future taking into account unresolved bankruptcy claims, (b) in respect of Class A interests issued as a result of recently authorized claims, (c) for holders of Class A interests who have not cashed checks posted in respect of prior distributions, (d) for distributions which have been withheld due to pending rescission actions, and (e) to holders of Class A Interests Interests for which the Trust is awaiting further information on the beneficiary.
The distribution amounts to $5.63 per Class A Interest and will be paid on or about July 15, 2022 to registered holders of Class A Interests at the close of business on June 30, 2022.
Regarding the distribution, the Trust’s Liquidation Trustee, Michael Goldberg, said, “I am pleased to be able to announce this additional interim distribution to our shareholders. As the Company is nearing the end of its real estate portfolio liquidation activities and only a small number of real estate assets remain, I remind all investors in the Trust that future distributions will be limited. Once the Company’s remaining real estate assets have been liquidated and the resulting net proceeds, net of reserves, distributed, further distributions are expected to be materially dependent on future recoveries arising from litigation. These recoveries are uncertain and the amount and timing of these recoveries are difficult to determine. »
About Woodbridge Liquidation Trust:
Woodbridge Liquidation Trust is a Delaware statutory trust which, together with its wholly-owned subsidiary Woodbridge Wind-Down Entity LLC, was established on February 15, 2019 to implement the terms of the first amended Chapter 11 joint liquidation plan dated February 22 August 2018. of Woodbridge Group of Companies, LLC and its affiliated debtors (the “ To plan ”). The purpose of the Trust is to pursue various causes of action acquired by the Trust under the Plan, to litigate and resolve claims filed against debtors under the Plan, to pay authorized administrative and priority claims against debtors ( including professional fees), to receive cash from certain sources and, in accordance with the Plan, to make cash distributions to holders of interests in the Trust subject to the maintenance of various reserves and after the payment of the Trust and administrative and priority claims. For more information, visit www.woodbridgeliquidationtrust.com.
Regarding forward-looking statements:
This press release may contain forward-looking statements. Forward-looking statements include statements (other than historical facts) that address future plans, goals, expectations, activities, events or developments. The Trust has tried, where possible, to use words such as ‘anticipate’, ‘would’, ‘believe’, ‘estimate’, ‘plan’, ‘expect’, ‘intend’ of”, “plan”, “initiative”, “objective”, “goal”, “project”, “perspectives”, “priorities”, “target”, “evaluate”, “pursue”, “seek”, “potential” , “continue”, “designed”, “impact”, “may”, “could”, “should”, “should”, “will” and similar expressions to identify forward-looking statements. Forward-looking statements are based on the current expectations and are subject to substantial risks, uncertainties and other factors, many of which are beyond our control and cannot all be predicted by the Trust. Accordingly, the Trust cannot guarantee that the forward-looking statements will materialize, as the actual results may differ materially from those identified or implied by any forward-looking statements. The forward-looking statements included in this press release include statements regarding the sources, amounts, timing, likelihood and frequency of future distributions. Among the factors that could cause actual results to differ materially are the risks identified and described in the Trust’s most recent filings with the United States Securities & Exchange Commission. All forward-looking statements speak only as of the date they are made. The Trust does not undertake to publicly update or revise any such forward-looking statements or other information contained herein, whether as a result of new information, subsequent events, circumstances, changes in expectations or other.
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CONTACT: Michael I. Goldberg, Liquidation Trustee
Woodbridge Liquidation Trust
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
KEYWORD INDUSTRY: FUNDING OF PROFESSIONAL SERVICES
SOURCE: Woodbridge Liquidation Trust
Copyright BusinessWire 2022.
PUBLISHED: 06/16/2022 1:55 p.m. / DISK: 06/16/2022 1:56 p.m.