To give a sense of scale, the last distribution from the trustee was mailed out November 6th. So the non IRA folks started getting checks in the mail as early as the 10th or 11th. The IRA folks I know are showing money post to their accounts today (December 1st).

So IRA folks just have to be a little patient; a bulk single check of (who knows) $1 million may have been mailed to your (IRA) trustee back on 6th or 7th. But the bookkeeps at your custodian chewing through that mega check to post your exact dollars and cents to your IRA takes a few days. So about 3 weeks can go by before your account gets posted up.

Just an FYI for IRA folks.

10 thoughts on “For IRA folks

  1. From the Liquidation Trust’s December 22nd Form 8-K filing, this may lead to another cash distribution soon:

    On December 22, 2020, the registrant, through a wholly-owned subsidiary (collectively with the registrant, the “Company”), completed three sales of its real estate holdings located at 10080 W. Sunset Blvd. (also known as 141 S. Carolwood Dr.), 10060 W. Sunset Blvd., and 10100 W. Sunset Blvd. in Los Angeles, California to three private entities for an aggregate cash purchase price of $88,000,000.

    These sale transactions took place pursuant to three purchase and sale agreements, each entered into on December 17, 2020. The Company considers these properties to have been among the most significant assets in the Company’s residential real property portfolio and believes that the completion of these transactions represents a substantial step in the progress of the Company’s asset liquidation activities.

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  2. Thanks Greg. Looks like they took a $2 million dollar loss, but at least Owlwood was sold. They currently have one other new home listed at over $28 million in LA, with 7 others under construction. Let’s hope the housing market stays hot so we can all recoup some of our investments.

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