The Zoom update with the bankruptcy court (in Delaware) was very brief this a.m. Mostly the judge just checking in to see if there were any hang ups or big problems.

About the only thing I learned was that several of the properties are still in the construction phase and not ready to list for sale quite yet. Others can comment who know better, but I think the trust has about 7 or 8 L.A. metro listings currently. I know of two more listings hitting the MLS ‘any day’ according to the realtor I heard from. And one property closed in early May.

No update of any substance on the Comerica Bank class action suit or the various lawsuits against law firms. I was hoping for some substance on those efforts.

16 thoughts on “Zoom

  1. I have heard that two oif law firms have settled already. Two things to consider as potential positives:
    1) Originally the firms in total stated that they would fight the lawsuit aggressively. The fact that two of them have settled if in fact that is the case reinforces the validity of the case for the Trustee. They would have to have had an iron clad case for them to settle. For the law firms they have to be concerned about their statujs with the Californina Bar Association and any criminal liabilities they could be facing.

    2) The pressure this could be placing on the remaining firms to settle also as oppossing to draging this case out through the court system.
    Just my thoughts.

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    1. 1. where did you hear two of those suits have settled already? I’d love learn about that if its true.
      2. there is ZERO chance these law firms will ‘fight the suits aggressively’. They will all settle in mediation and everyone knows that
      – the law firm being sued,
      – the law firm handling their defense of that suit (if outside counsel),
      – the Trustee’s lawyers,
      – and most importantly the insurance company that has the firm’s Errors and Omissions coverage.

      No chance of any of these seeing the inside of a court room. These will settle in mediation … only question is for what %age of the claim. That will depend on how well briefed the claim is.

      Liked by 1 person

      1. As always thank you for your tireless work on staying abreast of the happenings with Woodbridge and the Liquidation Trust. You mentioned that the Zoom meeting was a short one. Is there a way to receive the transcript of the call or was the meeting recorded to obtain.

        Thank you for all you do.

        Dave

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  2. In 2020, we went from getting a payment every three months, to every four months in 2021. We should have heard of a distribution this week. I hope we get one. Does anyone have thoughts on this?

    Like

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