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 most of us know, unwinding this debacle is about getting large pieces of L.A. (area) real estate to sell – mostly to a developer who will then redevelop that expensive land. These sales are not garden variety closings with common financing efforts. So I will update when I feel I know more … but autumn should be your expectation at this point for the next distribution.
Lessons Learned from the Woodbridge Scam 
Please keep me informed on WW next distribution and other
Thanks
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Doing our best
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Greg, We all know the SEC fined and banned Jordan Goodman from working as a broker AND/OR as an investment counselor….He is more active than ever! He continues to do his radio and TV shows, has recently launched a Money Answers TV channel on YouTube. His new edition of Dictionary of Finance is due out next month. Do we have any recourse? Did Goodman actually pay his 3 million dollar fine? Any thoughts?
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I’ve heard that the money for the next distribution planned for the end of October/ early November may not happened because they will need money to remodel the homes to sale. How much is this true? Thanks
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I (nor do I think anyone of us) really know.
I have two ‘insiders’ I communicate with; yes they are performing the ‘fix’ part of the fix flip on several of the homes they took over – but that was known all along.
The market in LA is strengthening and sales should generally speaking be strong for these properties once done. The timing …. hey, I can’t say.
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Any updates as to when the next distribution will take place?
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Sadly no. Nor do I have any positive update on the class action suit.
Click to access Woodbridge-Liquidation-Trust-Quarterly-Report-9-30-19.pdf
Had you seen this?
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Greg, thank u for ur efforts to keep us updated. My brother and I invested over half a million $$ In Woodbridge thru our financial advisor in Vero Beach, Fl (Albert Klager). As far as I know he was fined (slap on the wrist) and that’s all! I hope this class action against Conrico Bank helps but I doubt it as they have a history of dubious banking practices yet still operating. With the way these attorneys are able to gorge themselves, there will likely be nothing left for us, the investors. 😥.
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What do you specifically know about this bank?
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