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
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 am doing research on the anticipated date of the next cash distribution from the Woodbridge rehabilitation trust, and the realistic answer is probably August. I would like to be able to say distributions would be made regularly every quarter, but getting the real estate sold is the issue at hand. The story, as of now, … Continue reading Next Distribution …
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
Several properties are 'in escrow' to close