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.