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
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.
I'll chalk it up to a slow business volume for the folks working in the self directed IRA custodian shops .... but in the past when the bankruptcy trust made a distribution, the time lag for folks to get their money posted into their account could take 2 weeks or more. This last distribution seems … Continue reading Trust Distributions posting quickly for IRA’s
I am trying to research what 2019 tax forms the Bankruptcy Trustee is creating for us. Not had much luck yet - not unusual for one of you to know more than I on a given Trustee topic .... Share what you know I guess.
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 Many folks (but apparently not all) in the Woodbridge note program received a large packet in the U.S. mail this week offering to purchase your interest in … Continue reading Offer from Contrarian Capital
Like my last update this isn't anything concrete, but the image above is from today's Wall Street Journal showing that the bond market at least is pretty sure the Fed will lower interest rates one notch this summer (green graph). Trends like this are positive to real estate sellers as it lubricates the financing needed … Continue reading Good for Real Estate
lower rates to borrow for real estate favor the Liquidation of the trust properties
Update from Fred Chen on when the first distributions are likely to roll out from the Rehab Trust
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
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