I got a short update from the lawyer who's litigating on behalf of the trustee against the various law firms. Very brief, but the update was the firms he is suing (on your behalf) are wrangling about "Jurisdiction issues", i.e. what court is the proper venue to hear the case. Pretty normal stalling tactics I'm … Continue reading Small Update on the other Lawsuits
IRS form 4684
I amazed myself that I was able to get one of the attorneys for the Woodbridge trust to respond to my question this morning, on the timing of the IRS forms going out (so folks can file their taxes for 2020). Good news is those forms optimistically will be in the mail to us a … Continue reading IRS form 4684
Distribution is Here
Just a quick note ... looks like the June 15th distribution was out prompt. I'm seeing several folks post in that their checks arrived. Stay cool. Here's to the next distribution!
Filing your 2020 Tax Return
January 27, 2021IMPORTANT INFORMATION REGARDING YOUR 2020 INCOME TAX RETURNS The Woodbridge Liquidation Trust (“Trust”) is not, in and of itself, a taxpaying entity. Thefinancial activity (income, deductions, gains and losses) of the Trust is reported proratably for each trust beneficiary for the year on a Trust Grantor Letter, which will be provided by the … Continue reading Filing your 2020 Tax Return
$88 Million Sold!
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
No One’s going to like this
What is below was released Monday late. As you will read they want us all to file for an IRS extension to our 2019 tax filing so this trust can get your IRS forms out to you. I'm just the piano player - I didn't write the music. ************************************************************************************* —February 3, 2020—Woodbridge Liquidation Trust … Continue reading No One’s going to like this
Input for you on the Contrarian offer
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
