Woodbridge Liquidation Trust Announces Cash Distribution
GLENDALE, Calif .– (COMMERCIAL THREAD) – Woodbridge Wind-up Trust (the “Confidence“) announced that its liquidation trustee, with the approval of the Supervisory Board of the Trust, declared an aggregate cash distribution of approximately $ 40 million on the interest of the Class A Liquidation Trust (the”Category A interest“). This amount includes a reserve of approximately $ 900,000 for amounts that are or may become payable (a) in respect of Class A interest that may be issued in the future on the basis of unresolved bankruptcy claims, (b) in respect of Class A interest issued due to recently authorized bankruptcy claims, (c) to holders of Class A interests who have failed to cash checks mailed in respect of previous distributions, (d) as distributions withheld due to outstanding canceled shares, and (e) to holders of category A Interest from whom the Trust awaits further information on the beneficiaries.
The distribution is $ 3.44 per Class A Interest and will be paid on or about October 29, 2021 to registered holders of Class A interests at the close of business on October 22, 2021.
Regarding the distribution, Michael Goldberg, the liquidation trustee of the Trust, said: “I am happy to be able to announce this additional intermediate distribution to our holders. We continue to anticipate additional distributions from time to time in the future. ”
About Woodbridge Liquidation Trust:
Woodbridge Liquidation Trust is a Delaware statutory trust which, along with its wholly owned subsidiary Woodbridge Wind-Down Entity LLC, was formed on February 15, 2019 to implement the terms of the first Amended Chapter 11 Joint Liquidation Plan dated February 15, 2019. August 22, 2018. of Woodbridge Group of Companies, LLC and its affiliated debtors (the “Plan“). The purpose of the Trust is to pursue various causes of action acquired by the Trust in accordance with the Plan, to litigate and resolve claims filed against debtors under the Plan, to pay authorized administrative and priority claims against debtors (including including professional fees), receive cash from certain sources and, in accordance with the Plan, make distributions of cash to holders of interests in the Trust subject to the maintenance of various reserves and after payment of the expenses of the Trust and administrative and priority complaints. For more information, visit www.woodbridgeliquidationtrust.com.
Regarding forward-looking statements:
This press release may contain forward-looking statements. Forward-looking statements include statements (other than historical facts) that deal with future plans, objectives, expectations, activities, events or developments. The Trust has tried, where possible, to use words such as “anticipate”, “if”, “believe”, “estimate”, “plan”, “expect”, “intend”. “,” Plan “,” initiative “,” “objective”, “goal”, “project”, “perspective”, “priorities”, “target”, “evaluate”, “pursue”, “seek”, “potential” , “continue”, “designed”, “impact,” “may”, “could”, “would”, “should”, “will” and similar phrases to identify forward-looking statements. Forward-looking statements are based on current expectations and are subject to substantial risks, uncertainties and other factors, many of which are beyond our control and not all of which can be predicted by the Trust. Accordingly, the Trust cannot guarantee that forward-looking statements will be realized, as actual results may differ materially from those identified or implied in any forward-looking statement. The forward-looking statements included in this press release include, without limitation, statements regarding the making of future distributions. Factors that could cause actual results to differ materially include the risks identified and described in the Trust’s latest filings with the United States Securities & Exchange Commission. All forward-looking statements speak only as of the date on which they were made. The Trust does not undertake to publicly update or revise these forward-looking statements or other information contained in this document, whether as a result of new information, subsequent events, circumstances, changes in expectations. or otherwise.