Great news (I feel), on Monday I learned the Delaware bankruptcy court approved or adopted the rehabilitation plan presented to all of us based on positive ballots received.
I feel this is great news as this plan was agreed to by all the internal groups or parties – thus no internal litigation between Unit, Noteholders, general creditors, or Woodbridge. Now the real estate managers can kick into high gear – no more waiting.
They have a seasoned set of real estate managers that can start marketing properties & completing fix & flips (per the plan).
We should have solid updates monthly I’m guessing on property sales. Seems (to me) like the hard part of this effort is past.
The latest: Woodbridge Bankruptcy Updates & News