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 ‘shares’ that can be traded/sold/purchased etc. a little like shares of Exxon or Walmart.
The goal being to create a liquidity route for folks who desire to ‘sell’ some or all of their interest in the bankruptcy assets now rather than wait as the full unwind of the bankruptcy works its way out.
What I don’t know:
- When this will be finalized & announced – but my guess is sooner than later as they are more than half way through the required 90 day (no communication) black out period required by SEC rules (when an organization is going public).
- How the shares will be valued.
- If there will be restrictions on selling or buying. Can an individual sell 100% of their interest in the bankruptcy assets?
- How the supply/demand for shares will establish a price both initially and subsequently?
Again the goal here is to create a liquidity source for folks who want cash now.