We are not tax advisors, the following is an attempt to help folks get started with their tax advisor on how to claim loss (tax deductions) for previous interest claimed from Woodbridge 1099's. We believe the correct form for this is 2009-20. Scroll down to the bottom to find the form. What follows is a … Continue reading How to Recover Past Taxes paid on Woodbridge 1099 Interest
Florida Court Announces Penalties Against Woodbridge, Shapiro
For the many victims of the lending scam perpetrated by the Woodbridge Group of Companies, a recent federal court judgment is a ray of hope. The judgment announced on January 28, 2019 in a U.S. District Court in Florida, levies stiff financial penalties on the company, its subsidiaries, and its former owner, Robert Shapiro. Woodbridge … Continue reading Florida Court Announces Penalties Against Woodbridge, Shapiro
Woodbridge Bankruptcy Update: Timeline, Latest News & More
Note: NOTHING THAT FOLLOWS CAN BE TAKEN AS INVESTMENT ADVICE. YOUR PERSONAL DUE DILIGENCE IS REQUIRED TO DECIDE TO KEEP OR SELL AN INTEREST IN THE Woodbridge Liquidation Trust Are you a noteholder, unitholder, or investor in Woodbridge Wealth / Group of Companies? Looking for the latest updates on the impending Chapter 11 bankruptcy? Are … Continue reading Woodbridge Bankruptcy Update: Timeline, Latest News & More
Update from Fred Chen
Update from Fred Chen on when the first distributions are likely to roll out from the Rehab Trust
January Appears to be the Goal
On October 26, 2018, the Bankruptcy Court entered an order confirming the Woodbridge Chapter 11 plan of liquidation. Counsel for debtors (or the lawyers representing Woodbridge in the Chapter 11 in other words) have represented that they anticipate emerging from Chapter 11 bankruptcy, and commencing initial cash distributions, in the first quarter of 2019. ⁃ … Continue reading January Appears to be the Goal
Updates and Changes with Bankruptcy Court / Rehabilitation Trust
If you need to update the folks handling the Woodbridge rehabilitation plan of say changes with your mailing address, name change etc. the website link to use is: http://cases.gardencitygroup.com/wgc/Also there is a phone # Toll Free: 1-888-735-7613 - but I personally haven't had that really ever solve a problem when I have tried it ... things could … Continue reading Updates and Changes with Bankruptcy Court / Rehabilitation Trust
Real Estate Progress
Several properties are 'in escrow' to close
Rehab Plan Confirmed by Court … also on appeal to district court
The Delaware Bankruptcy court confirmed (or adopted) the rehabilitation plan - so this now goes from a 'plan' to a court order. There were some dissenting appeals by certain folks to have their specific Woodbridge loans paid in full and not be part of 'the plan.' The court rejected these in a long well reasoned … Continue reading Rehab Plan Confirmed by Court … also on appeal to district court
More Money Into the Rehab Pot for Lenders & Unit Holders
It looks like last week was a good one for the Woodbridge Chapter 11 rehabilitation plan. The SEC reached an agreement with Robert Shapiro for him to pay $125 million in penalties. Not all of this will flow into the rehab pot to be distributed ... but most will. I'm trying to find the details … Continue reading More Money Into the Rehab Pot for Lenders & Unit Holders
FAQ #7: Will I be entitled to recover my collateral?
Woodbridge pitched the idea that we have a Note (evidence of debt) and an assignment of the first mortgage against a specific piece of real estate to secure the Note, thus a secured Note. Ordinarily, this would entitle the note holder to foreclose on the note and take some ownership of the real estate if … Continue reading FAQ #7: Will I be entitled to recover my collateral?
Lessons Learned from the Woodbridge Scam 