“Should be public within 60 days.  We are working on (fixing and) selling homes.  Not sure when the next distribution will be.”

That is the update today from Michael Goldberg the manager of the bankruptcy trust.  So bad news is the next distribution is not targeted  – good news is the effort to make the “shares” in the bankruptcy publicly traded and therefore liquide, is closer to being accomplished.

I can’t say what the ‘going public’ will mean to any given person, but I’m sure its an advantage generally.  Interest rates continue to trend down – that’s a big help to sellers of real estate.

I wish I had something more solid.   I will keep on this watch.

20 thoughts on “Some update for us

    1. Seems much slower than I would have expected …. ain’t a moon launch.
      But the delay is working in our favor no doubt with the rates falling – that’s always good for sellers.

      One thing is labor shortage nationwide; there are several 20 to 30 story projects in Denver that simply aren’t progressing due to labor not being available to complete. I was in Bozeman MT a week ago … most restaurants don’t do dinner any longer (close at 2) due to in ability to get staffed for the dinner shifts.

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    1. Good from the argument of liquidity, i.e. could sell out.
      but I don’t see this practically working … who are the buyers? what broker/dealer would want to handle this? who besides another Woody (victim) would consider buying these units??
      I’ll buy your units for 10 cents on the dollar … you’d be a fool to sell for that.
      I say, list the real estate, sell it and pay out the funds regularly ….

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  1. So, am I the only one confused by what is going on? My mother’s money from Woodbridge real estate sales is put into the stock market. If she wants her money, she finds a financial adviser to sell shares from the stock market? When does she do this?

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      1. Not the stock market really, just issuing ‘shares’ that can be traded by some mystery – yet to be named broker dealer that will be willing to handle these ‘shares’.
        I’m sceptical any broker/dealer will want to handle these frankly – too small, too few, too thin of a market.

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  2. Hi; What do you think about Contrarian Funds LLC possible offer to buying Class A Liquidation Trust shares? At what price would that make sense and will there be other costs? Present Share value is set at $71.25 each share, the $75 less the 5% distribution.

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  3. Hi Greg, i received the mail from contrarian capital management also for class A liquidation funds. Offering $10/ trust interest. Not sure how to send you a copy.

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    1. i got the material – same for everyone.
      I just ran the numbers here with a Woodbridge Note person this a.m. … we came up with 14 cents on the dollar. That’s the offer Contrarian (more or less) is offering to buy you out.
      Not something I’d consider

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