NOTHING THAT FOLLOWS CAN BE TAKEN AS INVESTMENT ADVICE.   YOUR PERSONAL DUE DILIGENCE IS REQUIRED TO DECIDE TO KEEP OR SELL AN INTEREST IN THE Woodbridge Liquidation Trust

Many folks (but apparently not all) in the Woodbridge note program received a large packet in the U.S. mail this week offering to purchase your interest in the bankruptcy trust.    Your interest at this point, remember is expressed in ‘units’ not dollars – via the bankruptcy process everyone’s Notes and investment units (if you invested in those) were converted via an equation in to ‘units’ in the bankruptcy trust.

The moment I heard Michael Goldberg explain his plans to create publicly traded shares of the trust interest – I knew hedge funds would be cocked and loaded to blast out offers for those shares.     Contrarian Capital is the first.  They are offering $10/share of  your trust interest.  AS I AM UNDERSTANDING THE OFFER, this calcs out to be about 11.8 cents on the dollar of the money you put into Notes.   That is $150,000 of Notes you originally held would net you $17,700 from this hedge fund.

These are simply shrewd investors looking to triple or quadruple their money buying  shares.  Here’s the link to their website if you like to see more about their business:    Contrarian Capital Management LLC

They have studied the underlying real estate (which is semi public information, in that its listed for the bankruptcy trust folks to review), made an estimation of sales prices and timing and tendered this offer.    This is the first offer.   I’m guessing there will be a handful more offers from other hedge funds dropping into your mail box.

 

 

8 thoughts on “Offer from Contrarian Capital

    1. Like the ambulance chasing lawyer groups back in the Spring trying to get folks to surrender over their Woody Note interest so they could “represent” you in the bankruptcy.
      The judge put the kibosh on that if you recall.

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  1. Thank you for your input/analysis. I received this offer. I’ll be passing it up.
    Things are not moving as fast as expected. It’ll be a year since the first disbursement soon.
    Do you know, are there any planned in the near future?

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  2. Did you also know that Michael Goldberg has been filing cases against those “net winners” since August 16th to try and recover money paid out in fraud transfers? These people were paid in full using money from those 8,000 that are now with claims. Not sure what will become of this but it’s valued at $974,000.

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    1. I did know that and do know some of those folks. Yes they will have to pay back those dollars they got paid with in 90days of the bankruptcy.

      Its a lot of money that is +/-100% chance of getting paid in (due to the laws of bankruptcy)

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