Woodbridge Liquidation Trust Announces Cash Distribution
SHERMAN OAKS, California—July 13, 2020—Woodbridge Liquidation Trust (the “Trust”) announced that its Liquidation Trustee, with the approval of the Trust’s Supervisory Board, has declared an aggregate cash distribution of $30,000,000 on the Trust’s Class A Liquidation Trust Interests (the “Class A Interests”). This amount includes a reserve of approximately $609,000 for the issuance of additional Class A Interests based on estimated bankruptcy claims subject to future allowance pursuant to the First Amended Joint Chapter 11 Plan of Liquidation dated August 22, 2018 of Woodbridge Group of
Companies, LLC and its Affiliated Debtors (the “Plan”).
The distribution amounts to $2.56 per Class A Interest, and will be paid on or about July 20, 2020 to holders of record of Class A Interests as of close of business on Friday, July 10, 2020.
Regarding the distribution, the Trust’s Liquidation Trustee Michael Goldberg said, “I am pleased to be able to announce this additional interim distribution to our holders. We continue to anticipate making additional distributions in the future from time to time.”
10 thoughts on “$30 Million Distribution!”
Greg, This is great news. Thanks for being on top of Woodbridge things. Gail
LikeLiked by 1 person
Thx Greg. Liquidation of the most expensive properties in LA has been slow, with several having construction being completed. The most expensive one, Owlwood, remains unsold. Let’s hope they will sell these properties soon. The longer this drags on, the more fees to the lawyers will occur.
Educate me on this; how do you know (from the reports, etc.) that the construction effort is complete on a given property? Are you finding the listings on-line?
Owlwood is essentially a land sale as they have the entitlements done (as I understand) to subdivide off 3 additional lots for 3 new residences. So here we need a developer willing to take this risk (of that project).
Greg. All the Woodbridge properties are listed for sale with the Viewpoint Collection, a developer and seller of luxury homes in Los Angels. You can see the homes on their web site.
thanks for this research!
how do you know which listings pertain to the BK trust exactly?
You can check by the address.
LikeLiked by 1 person
can you share where you have the list of the trusts houses & lots … so I can find these listings.
I’m not seeing that easily on the trust website / 10k reports
Greg, should we respond to the notice of motion and hearing scheduled for September 2nd? What does the settlement entail? Thanks in advance.
its just a notice that the trustee is asking the court to agree to this Shapiro settlement