What follows is a warning/advisement/etc. from the trustee on how the Contrarian offer works in case you are considering accepting their offer. From memory, if you take the Contrarian offer all distributions after Dec 28th of last year are theirs to keep (I may be off on the date - but the point is the … Continue reading Input for you on the Contrarian offer
There's an old adage that goes - Don't ask a barber if you need a hair cut. As you consider selling your shares in the bankruptcy trust be judicious who you take input from. I'm hearing folks ping me with lots of comments from the people at the firm offering to purchase Woodbridge Liquidation … Continue reading How do I look ….?
Tuesday, October 15, 2019 BREAKING: Ex-Woodbridge CEO Gets 25 Years For $1.3B Ponzi Scheme Former Woodbridge Group owner and CEO Robert H. Shapiro was sentenced Tuesday to 25 years in prison for orchestrating a Ponzi scheme that raised $1.3 billion from more than 8,000 investors, resulting in approximately $470 million in losses to them.
I was able to get an email exchange with a contact on the bankruptcy trust - the best guess for the next distribution back in May was 'end of July.' Unfortunately the situation of getting closings on the properties for sale is rendering a goal of more like the fall of this year. As … Continue reading Next Distribution
Some may know more than I on this topic - so please reply with a message to either straighten me out on a detail or flesh out better what you know on this. But the bankruptcy trustee decided around May 1 to take the Woodbridge bankruptcy trust 'public'. Meaning go through a process of creating … Continue reading Liquidity soon!
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
https://dockets.justia.com/docket/california/cacdce/2:2019cv03439/744620 https://www.pacermonitor.com/public/case/27979731/Goldberg_v_Comerica_Bank All, I write with some good news. In late April, the trustee for the Liquidation Trust sued Comerica Bank. This case will probably supersede the various class actions that were earlier filed by different class groups. Of course this is early, but this will only offset all WB plaintiff damages further. We‘ll … Continue reading Comerica Suit filed