On December 22, 2020, the bankruptcy Trustee 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.
Here’s a link to some info on the property:
https://www.zillow.com/homes/10060-W-Sunset-Blvd-Los-Angeles,-CA,-90077_rb/95699619_zpid/
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.
For those not familiar with California, real estate transactions aren’t fast – after there’s a contract (for sale) the property generally goes into what is called ‘escrow’ then several steps occur, etc. So these were very fast clean transactions! I’m guessing another distribution will be coming soon.
Thank you GREG
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nice little Christmas gift for us all
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Thanks for the info, Greg. Happy New Year to you and Paula.
Louise
Sent from my iPad
>
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good news indeed. more good news soon I think.
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Has anything been done regarding legal action vs law and bank firms that assisted Shapiro ? Do u think anything will come of such efforts? Any prediction when the Trust will complete sales? Much thanks.
M
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i do think the various lawsuits against the lawyers will result in cash (via mediation)
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Can’t wait I need the money now, I am 80 years old and I hope I get all the law me before I die.🙏
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🙂
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Thank God🙏
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more listed for sale too. low %rates will help this effort to sell!
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Will we be getting another check for 2021 and when
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i will try to do some sniffing with two sources on this … but my guess is early Feb. for another distribution
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Will there be another distribution in 2021
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my best guess is early Feb. just a guess.
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Kudos to you Greg for keeping us informed….we are grateful for the updates you have faithfully provided. Our heartfelt thanks to you!
Ray Halle
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its been a fiasco for us all; but there’s progress
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$88 million sounds good, but what was paid for them when Woodbridge acquired them?
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$90 million I believe
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Hi. Any news on what percentage of the money we lost we will get back after everything is settled. And any news on lawsuit against comerica bank & other lawsuits
Thanks
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the lawsuits have basically gone on ice in that most courts stopped doing business all together due to Covid. Trials couldn’t proceed b/c jury(ies) couldn’t be called.
So the case is still there, I’m sure small motions/efforts are occurring but the big picture is to force Comerica into facing a jury – that’s when they will settle with some $.
Like everything else these days … waiting on Covid
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