February 8 the Trustee announced that $40 million will be coming out to us “on or about March 1st.” This amounts to $3.44 per Class A Interest to folks who were holders of that class as of February 22nd 2022.

I’m guessing (just a guess) that more will come in June-ish should the large house that was under contract closes. This will close sooner than later assuming nothing kicks the deal out of bed.

Here’s a link to the longer statement


16 thoughts on “$40 Million Distribution March 1

  1. Thank you for letting us know, Greg. So…here’s my question…… Is this Comerica money or sold property money? I know the Comerica settlement was supposed to come 60 days after the settlement date of Dec. 22, 2021. In that case, shouldn’t we be getting two checks in March?


    1. i just re-read the ‘cash on hand’ report on the trustees last SEC report myself. they simply had $40 million in checking from what ever sources.

      Still (if I’m reading it right) have $176million of real estate to sell.


  2.     The Saint Cloud and 638 Siena Way property are still for sale. The pending distribution might be from the jan 2022 sale of 41 King Street for 13.4 million plus the bank proceeds. Another source might be the Sept 2021 sale of 1484 carla Ridge for 22.4 million if the proceeds came in after last years oct distribution.                                                                                     Stephen Swafford


  3. Ok… So I just read the letter from the check we received….. The payment we got last week was definitely from Comerica. If I’m reading it correctly, we will be receiving ANOTHER check on it around March 1.
    “The trust has received a separate distribution of funds from the Comerica class action lawsuit, in its capacity as a class member in the lawsuit. If you are a holder of class A liquidation trust interests a separate payment representing your share of the distribution from the trust that was recently announced will be sent on or about March 1, 2022.


      1. Yes, I received two checks, about a week apart, both for around the same amount of money. One was definitely for Comerica.

        Liked by 1 person

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