Sorry I am late getting this out … had lots of family stuff last week. Here are the basics.

Trustee declared an aggregate cash distribution of approximately $40 million on the Trust’s Class A Liquidation Trust Interests (the “Class A Interests”). This amount includes a reserve of approximately $900,000 for amounts that are or may become payable (a) in respect of Class A Interests that may be issued in the future upon the allowance of unresolved bankruptcy claims, (b) in respect of Class A Interests issued on account of recently allowed bankruptcy claims, (c) to holders of Class A Interests who failed to cash checks mailed in respect of previous distributions, (d) as distributions withheld due to pending avoidance actions, and (e) to holders of Class A Interests from whom the Trust is awaiting further beneficiary information.

The distribution amounts to $3.44 per Class A Interest, and will be paid on or about October 29, 2021 to holders of record of Class A Interests as of close of business on October 22, 2021.

Here’s a link to read more.

8 thoughts on “Distribution Coming

  1. How and when will the money from the lawsuits be distributed and will taxes be owed on that. Thanks for keeping us updated.

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    1. From everything I’ve read, it does seem that we must claim the class action money as income on our taxes. It said the only time you don’t have to claim a lawsuit settlement is on personal injury. I have no idea how much they will tax us.

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  2. Thanks Greg as always. So I have read this a few times, is this saying the $900,000 is including or not including the bank resolution  that they just settled?

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  3. Question we get our money thru a Provident Trust anyways we just received a small payment on November 10 wondering if this was the bank settlement or was this the money that was a cash distribution???

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