Note: NOTHING THAT FOLLOWS CAN BE TAKEN AS INVESTMENT ADVICE. YOUR PERSONAL DUE DILIGENCE IS REQUIRED TO DECIDE TO KEEP OR SELL AN INTEREST IN THE Woodbridge Liquidation Trust Are you a noteholder, unitholder, or investor in Woodbridge Wealth / Group of Companies? Looking for the latest updates on the impending Chapter 11 bankruptcy? Are … Continue reading Woodbridge Bankruptcy Update: Timeline, Latest News & More
Belated Christmas Present for You!
I'm remis I didn't get this posted up to you right at Christmas, I'm a little late - but late with good news. The date on the copy below is December 22nd, but I have an idea it didn't get published up on the system until around the 30th. But read it for yourself - … Continue reading Belated Christmas Present for You!
St. Cloud has a Contract
About a month back the largest of the remaining homes the trust is trying to sell went under contract - it was the 642 Saint Cloud home in Holmby Hills, CA. I have pursued some realtor contacts in California to try to get a whisper of an update ... but I have no update if … Continue reading St. Cloud has a Contract
Another Sale in late November
The Woodbridge trust had another listing close in late November for $9.46 million; it was listed at $10.75 million. Here's a link to view the property https://www.zillow.com/homes/2600-Hutton-Dr-Beverly-Hills,-CA-90210_rb/20532891_zpid/? I'm still researching a solid answer on when/how the Comerica Bank settlement will come our way ... if anyone knows more on that, buzz me back please.
Distribution Coming
Sorry I am late getting this out ... had lots of family stuff last week. Here are the basics. Trustee declared an aggregate cash distribution of approximately $40 million on the Trust’s Class A Liquidation Trust Interests (the “Class A Interests”). This amount includes a reserve of approximately $900,000 for amounts that are or may … Continue reading Distribution Coming
Small Update on the other Lawsuits
I got a short update from the lawyer who's litigating on behalf of the trustee against the various law firms. Very brief, but the update was the firms he is suing (on your behalf) are wrangling about "Jurisdiction issues", i.e. what court is the proper venue to hear the case. Pretty normal stalling tactics I'm … Continue reading Small Update on the other Lawsuits
$54.5 Million Just Came in!
Woodbridge Liquidation Trust (the “Trust”) agreed to the terms of a settlement of two pending actions against Comerica Bank. The terms of the settlement, reached following negotiations with Comerica Bank and the plaintiffs in a putative class action against Comerica Bank in the United States District Court for the Central District of California (the “District … Continue reading $54.5 Million Just Came in!
Property Listings & Sale Progress
I haven't found much on the progress "our" listings have had in the Los Angeles area. I'm writing this to solicit input from others out there who are tracking listings, and the 'under contract' updates (in California they refer to this as 'in escrow'). Does anyone have updates to pass on? Thanks for the help.
IRS form 4684
I amazed myself that I was able to get one of the attorneys for the Woodbridge trust to respond to my question this morning, on the timing of the IRS forms going out (so folks can file their taxes for 2020). Good news is those forms optimistically will be in the mail to us a … Continue reading IRS form 4684
Distribution is Here
Just a quick note ... looks like the June 15th distribution was out prompt. I'm seeing several folks post in that their checks arrived. Stay cool. Here's to the next distribution!
Zoom
The Zoom update with the bankruptcy court (in Delaware) was very brief this a.m. Mostly the judge just checking in to see if there were any hang ups or big problems. About the only thing I learned was that several of the properties are still in the construction phase and not ready to list for … Continue reading Zoom
Lessons Learned from the Woodbridge Scam 