Jim, Stephany and the whole team were a God send. It was retained by the Liquidation Trust to maintain and process Liquidation Trust Interests and distributions. Delayed OTC Markets You made a difficult situation much more bearable. (310) 203-4271, Reports and Letters by the Liquidation Trustee, Change Of Name or Address/Registration Of Transfers, https://woodbridgeliquidationtrust.com/wp-content/uploads/2020/10/Press_Release_10-8-20-1.pdf, Woodbridge Liquidation Trust - 2022 Grantor Letter. The Non-Contributing Claimants and the Woodbridge Liquidation Trust, as assignee of the claims of the Contributing Claimants. Conversely, if the real estate market goes down, the projected recoveries may go down as well. Accordingly, in the above example, in addition to receiving 2.9 Class A Liquidation Trust Interests, a holder of an Allowed Class 5 Unit Claim would also have received 1.1 Class B Liquidation Trust Interests (($300 / $75) x .275 = 1.1). Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Woodbridge Liquidation Trust Announces Cash Distribution It was greatly appreciated. Yes. No. In addition, the Trust has not completed the reconciliation of all claims, so it is possible that the percentage recoveries could change based on the final allowance of claims. Continental Stock Transfer & Trust Companys website ishttps://www.continentalstock.com/. It is anticipated that additional distributions will be made in the future from time to time as funds become available. There was a significant dispute in the bankruptcy cases regarding whether the Units actually were claims, or instead were equity (ownership interests) in the Debtors (in which case Unitholders would have been entitled to be paid nothing). Fantastic news!!!! The distribution amounts to $3.44 per Class A Interest, and will be paid on or about October 29, 2021 to holders of record of Class A Interests as of close of business on October 22, 2021. Private Securities Litigation Reform Act of 1995. No. Woodbridge Group of Companies LLC investors argued that Comerica, which maintained all of the company's financial accounts, knew about the Ponzi scheme. Woodbridge Liquidation Trust Announces Cash Distribution All forward-looking statements speak only as of the date they were made. I appreciate your help, concern and guidance. You guys are the best group of attorneys in the country that I could hire to handle this complicated case. They entitle you only to cash distributions from the Liquidation Trust. Click to access Woodbridge-Press-Release-October-2021.pdf Share this: Twitter Facebook Loading. The Liquidation Trust does not know the timing or amount of the next distribution. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. Shapiro was also received a 25-year prison sentence in 2019. It has opened an account for you and will be keeping the record of your Liquidation Trust Interests. In this press release, all statements that are not purely historical facts are forward-looking statements. The Plan provided for the creation of two primary entities: (i) a Wind-Down Entity, which, through its subsidiaries, was vested on the effective date with the real estate-related assets formerly owned by Woodbridge; and (ii) a Liquidation Trust, which was vested with ownership of the Wind-Down Entity and its subsidiaries and estate claims and causes of action, such as lawsuits against third parties. You should contact Continental Stock Transfer & Trust Company. If so, the distribution has been sent to your IRA custodian. You filed a proof of claim through your attorney, and your attorney provided his or her address as the address to which distributions should be made. Mr. Goldberg was unanimously selected to be the Liquidation Trustee by the Unsecured Creditors Committee, the Noteholder Committee, and the Unitholder Committee. Among those reasons are: If your claim is currently disputed, you will receive Liquidation Trust Interests only if your claim is ultimately allowed. The Department of Labor (DOL) has agreed to a settlement with Prudential after theinsurer improperly collected life insurance premiums from customers and subsequently deniedcoverage claiming ineligibility. The liquidation of assets by the Wind-Down Entity is being administered primarily by the Wind-Down CEO. Woodbridges unsecured creditors (including investors holding notes and units) received interests in the Liquidation Trust, which entitle them to cash distributions over time from the Liquidation Trust. You may always contact counsel to the Liquidation Trust using the contact information on this website. Comerica Bank and investors who lost money in the $1.2 billion Woodbridge Ponzi scheme asked a federal judge in California for permission to move forward with the $54.2 million settlement of their class claims.. Stable Share Price: Insufficient data to determine WBQN.L's volatility over the past 3 months. GLENDALE, Calif., June 16, 2022--(BUSINESS WIRE)--Woodbridge Liquidation Trust (the "Trust") announced that its Liquidation Trustee, with the approval of the Trusts Supervisory Board, has declared an aggregate cash distribution of $65 million on the Trusts Class A Liquidation Trust Interests (the "Class A Interests"). Additional information regarding the Liquidation Trust, including selected filings made with the United States Securities & Exchange Commission, can be found on the top of this page under Selected SEC Filings. For answers to other questions, you may contact counsel to the Liquidation Trust at (310) 203-4271, extension 4271. If you are in a situation where you've been unfairly accused, don't hesitate to talk with Eccleston Law. FAQ - www.WoodbridgeLiquidationTrust.com However, as noted in the answer to the previous question, holders of Allowed Class 5 Unit Claims received fewer Class A Liquidation Trust Interests relative to holders of Allowed Class 3 Standard Note Claims and Allowed Class 4 General Unsecured Claims. Awesome job! Woodbridge Bankruptcy Update: Timeline, Latest News & More Who is Woodbridge Liquidation Trust Headquarters 201 E Las Olas Blvd Ste 1800, Fort Lauderdale, Florida, 33301, United States Phone Number (310) 765-1550 Website www.woodbridgeliquidationtrust.com Revenue <$5M Stock Symbol WBQNL Industry Investment Banking Finance Is this data correct? For this we are so very grateful. They are truly the best. For the first distribution, the Liquidation Trust declared a distribution of $44,697,250, in the aggregate, to holders of Class A Liquidation Trust Interests (including amounts reserved for claims not yet resolved). If a Unitholder held $50,000 in Net Unit Claims, and thus received 483.33 Class A Liquidation Trust Interests, that claimant would have received approximately $5,012, comprised of (i)approximately $1,812 as part of the initial distribution (483.33 * $3.75 = $1,812.49), (ii)approximately $2,175 as part of the second distribution (483.33 * 4.50 = $2,174.99), and (iii)approximately $1,024 as part of the third distribution (483.33 * $2.12 = $1,024.66). It is the most important legal business decision you will ever make, make it Eccleston Law. The law is continuously changing. Woodbridge expects that the process of liquidating all of the assets to be held by the Wind-Down Entity will take approximately two-to-three years. Once the Companys remaining real property assets have been liquidated and the net proceeds resulting therefrom, net of reserves, have been distributed, further distribution(s) are expected to be materially reliant on future recoveries from litigation. You were most helpful with my FINRA deposition. Although distributions are made on account of Liquidation Trust Interests and not directly on account of former Notes or Units, for ease of reference, it is possible to convert the amount of each distribution into a percentage recovery on a Net Note Claim or Net Unit Claim. PDF FOR IMMEDIATE RELEASE - Woodbridge Liquidation Trust The Trust is a Delaware statutory trust. 13-894 bsac Blacks in Government (BIG) et al. Comerica, Woodbridge Ponzi Victims Seek $54.2 Million Settlement Woodbridge expects that the process of liquidating all of the assets to be held by the Wind-Down Entity will take approximately two-to-three years. Woodbridge Liquidation Trust engages in the liquidation of the assets and liabilities of Woodbridge Group of Companies, LLC and Its Affiliated Debtors. When we called you - you were so kind to us and then agreed to help us. He previously served as the Debtors CEO for most of the Debtors chapter 11 cases. You are a good lawyer and a good person. The parties reached a settlement AI-powered legal analytics, workflow tools and premium legal & business news. All holders of Liquidation Trust Interests are urged to consult with their IRA and tax advisors regarding their specific circumstances. Actual results could vary materially depending on risks and uncertainties that may affect the Liquidation Trust and Wind-Down Entity, including, but not limited to, local, national, and international economic conditions; the supply and demand for properties; the financial conditions for tenants, buyers, and sellers of properties; changes in interest rates; changes in environmental laws or regulations, planning laws and other governmental roles and fiscal and monetary policies; changes in real property tax rates and related tax deductions; negative developments in the economy that depress travel and retail activity; uninsured casualties; force majeure acts, terrorist events, under-insured or uninsurable losses; and other factors that are beyond the reasonable control of the Liquidation Trust and the Wind-Down Entity. With the availability of DRS services, registered holders of Class A Liquidation Trust Interests are able to electronically transfer their Class A Liquidation Trust Interests from Continental Stock Transfer & Trust Company to the holders securities broker so that market trades can be executed by the broker at the instructions of the holder. They are the best. Frederick Chin is the Wind-Down CEO. Woodbridgeexpects that the process of liquidating all of the assets to be held by the Wind-Down Entity will take approximately two-to-three years. (310) 203-4271, Reports and Letters by the Liquidation Trustee, Change Of Name or Address/Registration Of Transfers, A link to the Confirmation Order may be accessed free of charge here, Woodbridge Liquidation Trust - 2022 Grantor Letter. Woodbridge and the three fiduciary committees appointed in the bankruptcy cases worked in concert to reach the global settlement represented by the Plan to ensure that creditors can recover as much money as possible, and believe that the Plan provides the best possible outcome under the circumstances. MarketScreener: Created by Investors for Investors! Michael I. Goldberg, Liquidation Trustee Woodbridge Liquidation Trust Tel: 1-310-765-1550 Contacts Michael I. Goldberg, Liquidation Trustee Woodbridge Liquidation Trust Tel: 1-310-765-1550 Class B Liquidation Trust Interests will only receive cash distributions from the Liquidation Trust if all claims represented by Class A Liquidation Trust Interests have been paid in full. If you purchased your investment in Woodbridge through a custodial account, such as an IRA, then the Liquidation Trust will make any distributions to your custodian. Liquidation Trust Interests are maintained by the Liquidation Trustee (or his designee) in book entry form. Michael Goldberg, Liquidation Trustee Holders of Allowed Class 3 Standard Note Claims and Allowed Class 4 General Unsecured Claims received one (1) Class A Liquidation Trust Interest for each $75.00 of Net Note Claims or Allowed General Unsecured Claims held by such creditor. Woodbridge Liquidation Trustee vs. Woodbridge's Lawyers - SlideShare I just wanted to say thanks again for preparing and executing my case in such a professional manner. Accordingly, the Trust cannot guarantee that any forward-looking statements will be realized, as actual result may differ materially from those identified or implied in any forward-looking statement. ~DO=^o EJU(vZ X|L}|}SN)'7 7)nM+wz,jzG%5h6f]|FLKr^Yq'Z|5,OaE~VsZ.F]~zV:>:~Z2~o+~h7Jm SU+>07#N/SLsI+-xiI.`m}qM /Z7U]ktOpT2h-'rFX-8Dv/V^7x W5- 4md0pT d#|9qC{+by$UD WC}''J%,]gOmv_FuAi3|v%wx7%b-#*%Wn_IEB&D*j37- cS7t >7%8UQwM~f!jpMFxJ6d}J=PC~@JzIaI0%Q+KM.@|VbSGA{Ge% Additional information, including answers to frequently asked questions, may be found at the Liquidation Trust's website, available at http://www.pszjlaw.com/woodbridge.html. You are very good at what you do. In addition, until the matter is resolved, the Trust reserves the right, without limitation of other rights and remedies it may have, to: (i)pursue recovery of any amounts that you recover on account of claims that have been contributed to the Trust, (ii) recoup any amounts that you have received from non-Trust sources by withholding distributions from the Trust that would otherwise be paid to you on account of your Trust interests; (iii)impose a freeze on your ability to sell your Trust interests; (iv) impose a freeze on further distributions on account of your Trust interests. Thank you for your professional assistance with this matter. x\rFWp!q Woodbridge also announced that it is targeting an initial cash distribution to take place on or before March 31, 2019. Thank You from the bottom of our hearts for all you have done for us. The Plan may be accessed free of charge here, The Bankruptcy Court order confirming the Plan (the Confirmation Order) was entered on October 26, 2018 (the Confirmation Date). Unitholders also received Class B Liquidation Trust Interests for the other 27.5% of their Net Unit Claims, so that if there is more money available after payment of the Net Note Claims, Allowed General Unsecured Claims, and Net Unit Claims represented by the Class A Liquidation Trust Interests, then Unitholders will receive cash distributions on their Class B Liquidation Trust Interests until the remaining Net Unit Claims are paid. Woodbridge Liquidation Trust : Entry into a Material Definitive Agreement, Financial State.. Woodbridge Liquidation Trust : Other Events, Financial Statements and Exhibits (form 8-K). Woodbridge Liquidation Trust Declares Cash Distribution on Class A Today's announcement effectuates a global settlement negotiated between the Woodbridge debtors (managed by a Bankruptcy Court-approved independent Board of Managers), the Official Committee of Unsecured Creditors, the Ad Hoc Group of Noteholders, and the Ad Hoc Group of Unitholders, which settlement is embodied in the Plan. Thank you, Thank you, THANK YOU! To the knowledge of the Liquidation Trust, no amounts have been escrowed by Mr. Shapiro for payment of the settlement and no specific property has been identified for satisfaction of the settlement. The complaint further alleged that Shapiro paid returns to investors by utilizing client funds, which generated nearly $1.22 billion before the scheme was thwarted. Find the latest Woodbridge Liquidation Trust (WBQNL) stock quote, history, news and other vital information to help you with your stock trading and investing. Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters. The world would be a much nicer place if there were more people like the two of you in it. Woodbridge Emerges from Bankruptcy; Targets Initial Cash Distribution These statements, including (but not limited to) the statements relating to the future financial and operating results of the Liquidation Trust and Wind-Down Entity, are made under the "safe harbor" provisions of the U.S. For example, if you invested $1,000 in Notes or Units issued by Woodbridge, and were paid $100 in interest prior to the commencement of the Woodbridge bankruptcy cases, then your net claim for purposes of the Plan would have been $900. Insufficient data to determine how WBQN.L performed against the. As a financial advisor with over 20 years of experience, I feel fortunate to call Jim my attorney and friend. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Investors who lost money to the scam argued that Comerica, which maintained all of AI-powered legal analytics, workflow tools and premium legal & business news. Woodbridge Liquidation Trust OTCPK:WBQN.L Stock Report Wilmington DE 19801 Continentals email address iscstmail@continentalstock.com. In addition, the Trust reserves the right to enforce any of the foregoing remedies against any purchaser of Trust interests. Based on the estimated net assets in liquidation for the Trust as of December 31, 2019, there will be no distributions on account of Class B Liquidation Trust Interests. Woodbridge Liquidation Trust is a Delaware statutory trust that, together with its wholly-owned subsidiary Woodbridge Wind-Down Entity LLC, was formed on February 15, 2019 to implement the. A copy of the sentence is available here. 4. Deal also includes additional $300,000 for liquidation trust, Class attorneys to seek $13.55 million in fees. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. Three of these individuals were nominated to the Liquidation Trust Supervisory Board by the Committee, one member was nominated by each of the Unitholder Committee and the Noteholder Committee, and the sixth member (Mr. Reiss) was elected by the other five members. A second distribution was announced on January 3, 2020. The deal "represents at least 10% of best-case scenario damages," according to documents filed in support of the investors' preliminary settlement approval motion in the U.S . The Liquidation Trustee is unable to provide advice regarding IRA or tax issues. When typing in this field, a list of search results will appear and be automatically updated as you type. As another example, if a Noteholder and Unitholder both held $50,000 in net claims, the Noteholder would have received approximately 666.66 Class A Liquidation Trust Interests ($50,000 / $75 = 666.66), whereas the Unitholder would have received approximately 483.33 Class A Liquidation Trust Interests (($50,000 / $75) x .725 = 483.33) and approximately 183.33 Class B Liquidation Trust Interests (($50,000 / $75) x .275 = 183.33). From the Desk of Jim Eccleston at Eccleston Law: Comerica Bank and investors who were harmed in Woodbridges $1.2 billion Ponzi scheme have won final approval of their $54.2 million settlement. Wilmington DE 19801 Volatility Over Time: Insufficient data to determine WBQN.L's volatility change over the past year. Return vs Industry: Insufficient data to determine how WBQN.L performed against the US Capital Markets industry. For detailed information regarding how Liquidation Trust Interests may be transferred in the event of a holders death, please contact Continental Stock Transfer & Trust Company. Upon the effectiveness of such Exchange Act registration, (i) the transfer restrictions on Class A Liquidation Trust Interests shall terminate and cease to be of any force or effect and (ii) the Class A Liquidation Trust Interests may be transferred by the holders thereof to the extent otherwise permissible under applicable law. If, on the other hand, you invested $1,000 in Notes or Units issued by Woodbridge, and were paid nothing in the past by Woodbridge, then your net claim for purposes of the Plan would have been the full $1,000 that you invested. Comerica Bank and investors who lost money in the $1.2 billion Woodbridge Ponzi scheme won final approval of their $54.2 million settlement in federal court in California.