The registration application to the SEC to create ‘shares’ of the bankruptcy (BK) trust will be filed today.    As I understand it, this process will create ownership shares in the BK trust so that owners can buy and sell interest … the stated benefit being to create liquidity i.e. the ability to sell or cash out via a public market.

I’m baffled why this money is being spent from our/your bankruptcy trust by the managing trustee for this effort.    Is liquidity over the next 24 months that big a benefit to justify all this cost of “taking the BK trust public?”  How many buyers of these ‘shares’ will there be?

The stated time horizon for the trust is 20 some months not years.

I’ll try to find more concrete updates on the real estate sales – which is where the distributions will flow from.

 

12 thoughts on “Registration Filed with SEC today

  1. I agree it sounds like a waste of our money with no real benefit. Just sell the properties and get our money back as efficiently as possible. All this other sounds like nonsense.

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  2. I don’t get it, why can’t they just get rid of these properties now, so we get less, better than nothing, that way we don’t have to pay Liquidation Trust and Employees, Lawyers, Contractors etc. By the time they sell, we will get absolutely $0 if things go as slow as it’s going now! What you think?

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  3. When folks are depending on assets from this liquidation plan, there should be some expediency to assure that we would have the ability to at least spend a bit of the distributions before we expire! It has been a long road. Does anyone have any update as to the percentage of return expected? It was varying between 42 to 65%. when first announced.

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  4. i agree with you about this next chapter to sell on market another delay and more lawers hired. The longer this is delayed the more expense we have to share with others. Unless they can sell for a good profit we are the losers. Will we ever know what money is really available?

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