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
Lessons Learned from the Woodbridge Scam 
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?
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I shouldn’t act as if I know this answer really, but I’m guessing this is Comerica
I don’t know of a closing recently to generate new cash
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Also…..does anyone know if the St. Cloud house settled? Shouldn’t we be getting money for that soon?
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i’m trying to get a line on that question … no luck so far
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Thank you for the info. I must have misunderstood the comamerica suit. I thought that was 15k or 20k to the holders.
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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.
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Thanks, Greg. I guess it was wishful thinking we were getting a 15k check. I appreciate you keeping us up to date
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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
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thx for this detail Stephen!
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Are we still getting the money down the road from St Cloud?
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yes … but I have not confirmed it sold. have you?
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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.
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Cheryl
do you agree there are two sets of checks? I’m trying to nail this down too. What do you say?
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Yes, I received two checks, about a week apart, both for around the same amount of money. One was definitely for Comerica.
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Greg, what are your thoughts on this? Am I correct in assuming we are receiving ANOTHER check next week?
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I think so. I hope I’m right on that. (for both of us!)
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