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
$54.5 Million Just Came in!
Woodbridge Liquidation Trust (the “Trust”) agreed to the terms of a settlement of two pending actions against Comerica Bank. The terms of the settlement, reached following negotiations with Comerica Bank and the plaintiffs in a putative class action against Comerica Bank in the United States District Court for the Central District of California (the “District … Continue reading $54.5 Million Just Came in!
Property Listings & Sale Progress
I haven't found much on the progress "our" listings have had in the Los Angeles area. I'm writing this to solicit input from others out there who are tracking listings, and the 'under contract' updates (in California they refer to this as 'in escrow'). Does anyone have updates to pass on? Thanks for the help.
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
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
IRS form Mystery continues
If any of you have a clue on what the mystery IRS form the bankruptcy trustee mentioned back on February 2nd, that we needed to file with our 2019 tax returns ... chime in. I've yet to find any details. Comment back if you know more for the group.
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
Offer from Contrarian Capital
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
