Trust is still pursuing several Liquidation Trust Actions, the prosecution of which is not expected to be completed by the Termination Date. For example, although the Trust has settled with the majority of the defendants in the Law Firm Action, significant claims against remaining defendants have not been resolved. In addition, the Liquidation Trust is still prosecuting approximately 33 adversary proceedings, most which are not expected to be resolved prior to the Termination Date. In addition to the Liquidation Trust Actions, the Liquidation Trust also anticipates additional work on claim objections to fully resolve the final remaining claims asserted against the Estates. The Liquidation Trust also requires additional time to liquidate the remaining forfeited assets, including those not yet transferred to the Liquidating Trust from the DOJ.
- The Wind-Down Entity likewise requires additional time to complete the
liquidation of the remaining Wind-Down Assets, including, one parcel of real property, one performing loan, certain property tax refund rights, certain construction bond refund rights, and other similar rights in and to remnant Wind-Down Assets.
The above is from an extension request made by the receiver. Asking for more time for the ‘wind down’.
Here’s a link to the document:
I wish I had a Christmas present for you, saying I had some clues as to when the next distribution will be made … but alas I don’t.
Lessons Learned from the Woodbridge Scam 