On December 22, 2020, the bankruptcy Trustee completed three sales of its real estate holdings located at 10080 W. Sunset Blvd. (also known as 141 S. Carolwood Dr.), 10060 W. Sunset Blvd., and 10100 W. Sunset Blvd. in Los Angeles, California to three private entities for an aggregate cash purchase price of $88,000,000. Here's a … Continue reading $88 Million Sold!
For IRA folks
To give a sense of scale, the last distribution from the trustee was mailed out November 6th. So the non IRA folks started getting checks in the mail as early as the 10th or 11th. The IRA folks I know are showing money post to their accounts today (December 1st). So IRA folks just have … Continue reading For IRA folks
4th Distribution of 2020
Check your mail box ... for money!
IRA folks
Quick reminder, when these disributions occur the trustee will create one master check of hundreds of thousands or even millions to the IRA custodian with a report as to how all that money gets posted to the various IRA holders (per the shares they have in the BK trust) ... So don't be surprised when … Continue reading IRA folks
Taxes Taxes
Back in May I wrote an update on the 'mystery tax forms' the bankruptcy trustee was saying they were issuing ... at least the mystery is over 1041 forms are being pushed out. I'll do some research and update with some details on these soon. Greg
What Do You Own …
Most folks will understand that they own shares (of different classes) in the bankruptcy trust, and that the trust owns a bunch of real estate mostly in the Los Angeles area that they are trying to sell. I believe the latest report filed shows some $365 million of real estate is left to sell, and … Continue reading What Do You Own …
Distribution Checks out soon
According to the announcement checks should start rolling into the U.S.P.S. yesterday; of course IRA folks will take a few days to see money posted to their account as the custodians take a while to get the one check they receive broken out and posted to everyone's IRA.
$30 Million Distribution!
$30 million getting mailed out ... more to come
Asset Report Out
On the 7th the trustee released its report of the assets, cash, transactions, etc. I haven't really reviewed it but here's the link March 31 asset report Back soon when I have some input on this.
Reminder of the Tax Notice
The Trust’s accountants are currently engaged in preparing the required 2019 tax returns for all pre-effective date and post-effective date entities under control of the Trust. It is anticipated that the 2019 income tax returns and accompanying Grantor Letters for the Trust will be completed by early September 2020. At that time, Grantor Letters … Continue reading Reminder of the Tax Notice
Lessons Learned from the Woodbridge Scam 