January Appears to be the Goal

On October 26, 2018, the Bankruptcy Court entered an order confirming the
Woodbridge Chapter 11 plan of liquidation. Counsel for debtors (or the lawyers representing Woodbridge in the Chapter 11 in other words)  have
represented that they anticipate emerging from Chapter 11 bankruptcy, and
commencing initial cash distributions, in the first quarter of 2019.
⁃ Class plaintiffs presently anticipate moving to lift the Bankruptcy Court
stay no later than February 1, 2019.

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The above was filed by the Woodbridge lawyers with a court last week stating they “anticipate” exiting Chapter 11 late next month.    This is great news as it greatly reduces the burn rate of fees to the various lawyers needed in the Ch 11 process.

This time-line is way ahead of the initial idea of exiting April 2019.    A positive update.

I’ll try to have an update soon on how to handle the income tax issues of this Ch 11 for your 2018 tax filing.   Back soon.

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