I have spent the last 2 weeks trying to get someone from the office of the Trustee to comment or offer anything in writing to explain the dramatic share price reduction many saw the end of February. Some ‘adjustments’ I saw were towards 80% reduction.
Again, with the plethora of postings, records, announcements, etc. on the Trustee’s website, there is/was nothing offering a breath of context on why this was done, how it was figured, the math, etc., etc.
According to Colin Robinson, one of the lawyers for the Trustee, this ‘adjustment’ was part of an annual SEC filing they are required to make to offer the ‘cash liquidation value’ of the assets. I asked, “so this valuation you reported included ZERO values for the real estate holding of the Trust?”. His response was affirmative. None of the real estate values (or appraised value, or Zillow, or anything reflecting value) are included in the SEC ‘cash liquidation value.’ So, as I understand it, this share price is a bit of a technical SEC data point, not a valuation that would reasonably reflect the true value of the shares today (not to mention they value all of the pending lawsuits at zero value – I completely understand this is only prudent.).
Colin’s direct phone is 302.778.6426.
I include his telephone number because he offered no source other than himself to “offer feedback” to the Trustee on this matter. In other words, there is no direct way to visit with the Trustee’s office. So, if you have any ‘feedback’ for Colin to pass along to the Trustee management as to better communication on such dramatic changes with the share price … call him and offer that feedback.
Here’s hoping for some better communication on these matters going forward.
Lessons Learned from the Woodbridge Scam 
The adjustment was heartbreaking and shocking. It’s hard to understand how there can be NO communication from anyone… anywhere… there is only you. Thank you.
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call that Colin and say exactly that … maybe they will get some communication on this
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I called and left Colin a message detailing my shock and disappointment and asked for better communication on this. I hope we can get an explanation … thank you.
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perfect!
he’ll call back in 48 hours I bet.
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Greg, Thank you for taking the time to research and forward info as you locate it regarding the Trust. It is refreshing to know that you have our interests in mind, as well as you own, to keep everyone posted.
Thank you Kevin Kelly (Grover/Wilma Kelly)
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call that Colin and complain … that is the only way to get better quality communication
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Thank you for keeping us updated and to better understand what the value meansSent from my T-Mobile 5G Device
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this was maddening …. call Colin and complain that’s the only way to get better quality
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As Greg suggested, I called Colin and he did indeed call me back within the hour.
Colin is more than willing to explain the year end valuation adjustment and why and how it is done.
Instead of explaining to you what he told me, he has asked me to urge you to call him.
Please do it if you have questions… you will enjoy being told that you can still expect more than the last ‘adjustment’ to your account. Maybe we will receive letters if enough of us ask the questions.
Colin’s direct phone is 302.778.6426
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bully! Thanks PK
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