Are you a noteholder, unitholder, or investor in Woodbridge Wealth / Group of Companies? Looking for the latest updates on the impending Chapter 11 bankruptcy? Interested in the latest lawsuit news? Wanting an update on when your settlement payments will arrive? Look no further. Welcome to 'Lessons Learned', a website designed to help provide the … Continue reading Woodbridge Bankruptcy Update: Timeline, Latest News & More
Shapiro May go to Jail Wednesday
Robert Shapiro appears to be reaching an agreement with the Dept of Justice on jail, forfeiture of assets and 'cooperation' with other efforts to recover valuable assets for the bankruptcy trust. Below is quote from the latest update. The United States has offered Defendant Shapiro a plea agreement, and Shapiro may announce to the Court … Continue reading Shapiro May go to Jail Wednesday
Up date on activity and timing
On July 31st the manager of the bankruptcy trust put out an update talking about their efforts .... these comments on the activity to get the real estate in the LA area sold were very helpful. What's below is a quote: One of the most common questions I receive is why the sale of … Continue reading Up date on activity and timing
Next Distribution
I was able to get an email exchange with a contact on the bankruptcy trust - the best guess for the next distribution back in May was 'end of July.' Unfortunately the situation of getting closings on the properties for sale is rendering a goal of more like the fall of this year. As … Continue reading Next Distribution
Liquidity soon!
Some may know more than I on this topic - so please reply with a message to either straighten me out on a detail or flesh out better what you know on this. But the bankruptcy trustee decided around May 1 to take the Woodbridge bankruptcy trust 'public'. Meaning go through a process of creating … Continue reading Liquidity soon!
Good for Real Estate
Like my last update this isn't anything concrete, but the image above is from today's Wall Street Journal showing that the bond market at least is pretty sure the Fed will lower interest rates one notch this summer (green graph). Trends like this are positive to real estate sellers as it lubricates the financing needed … Continue reading Good for Real Estate
A Positive
lower rates to borrow for real estate favor the Liquidation of the trust properties
Comerica Suit filed
https://dockets.justia.com/docket/california/cacdce/2:2019cv03439/744620 https://www.pacermonitor.com/public/case/27979731/Goldberg_v_Comerica_Bank All, I write with some good news. In late April, the trustee for the Liquidation Trust sued Comerica Bank. This case will probably supersede the various class actions that were earlier filed by different class groups. Of course this is early, but this will only offset all WB plaintiff damages further. We‘ll … Continue reading Comerica Suit filed
