What follows is a warning/advisement/etc. from the trustee on how the Contrarian offer works in case you are considering accepting their offer.
From memory, if you take the Contrarian offer all distributions after Dec 28th of last year are theirs to keep (I may be off on the date – but the point is the same). See below from the trust manager.
The Trust has been made aware of a tender offer by an affiliate of Contrarian Funds, L.L.C. (“Contrarian”) to purchase up to 2,858,405 of the outstanding Class A Interests for $10.00 per Class A Interest, without interest (the “Tender Offer”). HOLDERS OF CLASS A INTERESTS WHO HAVE TENDERED OR ARE CONSIDERING WHETHER TO TENDER THEIR CLASS A INTERESTS TO CONTRARIAN ARE ADVISED THAT, UNDER THE CURRENT TERMS OF THE TENDER OFFER AS DISCLOSED IN PUBLIC FILINGS BY CONTRARIAN, THE OFFER PRICE IS SUBJECT TO DEDUCTION IN THE EVENT OF DISTRIBUTIONS BY THE TRUST DURING THE TENDER OFFER PERIOD.
AS A RESULT, TENDERING HOLDERS MAY RECEIVE FROM CONTRARIAN AN OFFER PRICE OF ONLY $5.50 PER CLASS A INTEREST.