Class A Liquidation Trust Interests were distributed to all holders of Allowed Class 3 Standard Note Claims, Allowed Class 4 General Unsecured Claims, and Allowed Class 5 Unit Claims. 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. Click to access Woodbridge-Press-Release-October-2021.pdf Share this: Twitter Facebook Loading. 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. The Liquidation Trust will endeavor to announce any subsequent distribution on this website in advance of mailing checks. /Length 5 0 R 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. Colin Robinson, Esq. Continental Stock Transfer & Trust Company is Transfer Agent to the Liquidation Trust. 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). We really appreciate the work you did. As you may have read, in October 2019 Robert Shapiro was sentenced to 25 years in prison. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. The Trust is a Delaware statutory trust. For detailed information regarding how Class A Liquidation Trust Interests may be transferred from the books and records of Continental to the holders securities broker, holders should contact Continental Stock Transfer & Trust Company. 919 North Market Street17th Floor How did WBQN.L perform over the long term? Fort Lauderdale, FL 33301 MarketScreener: Created by Investors for Investors! A second distribution was announced on January 3, 2020. Yes. The Trust was established pursuant to, and on the effective date of, the Debtors First Amended Joint Chapter 11 Plan of Liquidation (the Plan). Woodbridge Liquidation Trust announced that its Liquidation Trustee, with the approval of the Trust's Supervisory Board, has declared an aggregate cash distribution of approximately $40 million on. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "project," "plan," "estimate," "intend," "potential" and other similar expressions. Woodbridge Liquidation Trust : Entry into a Material Definitive Agreement, Financial State.. Woodbridge Liquidation Trust : Other Events, Financial Statements and Exhibits (form 8-K). x\rFWp!q If a Noteholder held $300 in Net Note Claims, and thus received four (4) Class A Liquidation Trust Interests, that claimant would have received a total of approximately $41.48, comprised of: (i)$15 as part of the first distribution (4 * $3.75 = $15), (ii)$18 as part of the second distribution (4 * 4.50 = $18), and (iii)$8.48 as part of the third distribution (4 * $2.12 = $8.48). According to the complaint, Shapiro marketed promissory notes and other securities as low-risk, high-yield investments secured by high-interest real-estate loans to third-party commercial borrowers. In addition, the Liquidation Trust Supervisory Board will consist of five membersthree selected by the Official Committee of Unsecured Creditors, and one each selected by the Ad Hoc Group of Noteholders and the Ad Hoc Group of Unitholders. Before the Effective Date, Pachulski Stang Ziehl & Jones LLP served as counsel to the Official Committee of Unsecured Creditors (the Committee) in the Debtors chapter 11 bankruptcy cases. Forward-looking statements include in this press release include statements regarding the sources, amounts, timing, likelihood, and frequency of future distributions. As of December 24, 2019, Class A Liquidation Trust Interests are freely transferable to the extent permissible under applicable law. One of the best life decisions I've ever made. You were most helpful with my FINRA deposition. The only thing that is truly heard in this un-level playing field is a bulldogs bark like Jims. Continental Stock Transfer & Trust Companys website ishttps://www.continentalstock.com/. 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. Holders of Allowed Class 5 Unit Claims received 72.5% of one (1) Class A Liquidation Trust Interest and 27.5% of one (1) Class B Liquidation Trust Interest for each $75.00 of Net Unit Claims held by such Unitholder. The parties agreed to the settlement earlier in 2021 while the deal includes an additional $300,000 to resolve claims the Woodbridge Liquidation Trust filed against Comerica. Their phone number is 212-509-4000. Mr. Goldberg was unanimously selected to be the Liquidation Trustee by the Unsecured Creditors Committee, the Noteholder Committee, and the Unitholder Committee. We felt like we were put into a situation where we had no advocate. If so, the distribution has been sent to your IRA custodian. Pachulski Stang Ziehl & Jones LLP, Counsel to Woodbridge Liquidation Trust Messrs. Reiss and Nevins were both members of the Bankruptcy Court-approved independent Board of Managers of the Woodbridge debtors in their chapter 11 cases. . 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. I am grateful to have found an outstanding law firm that specializes in securities matters. When that total amount is divided equally among Class A Liquidation Trust Interests, it equals $3.75 for each Class A Liquidation Trust Interest. Press reports regarding the settlement between the Securities and Exchange Commission (SEC) and Robert Shapiro created a great deal of confusion. Woodbridge Group of Companies LLC investors argued that Comerica, which maintained all of the companys financial accounts, knew about the Ponzi scheme. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20220616005866/en/, Michael I. Goldberg, Liquidation TrusteeWoodbridge Liquidation TrustTel: 1-310-765-1550, https://www.businesswire.com/news/home/20220616005866/en/. Volatility Over Time: Insufficient data to determine WBQN.L's volatility change over the past year. Legal counsel for the Trust is Pachulski Stang Ziehl & Jones LLP. Liquidation Trust Interests are maintained by the Liquidation Trustee (or his designee) in book entry form. Stable Share Price: Insufficient data to determine WBQN.L's volatility over the past 3 months. Liquidation Trust Interests issued after one or more distribution(s) will receive catch-up payments on account of any such prior distribution(s). Among the factors that may cause actual results to differ materially include the risks identified and described in the Trusts most recent filings with the U.S. Securities & Exchange Commission. Conversely, if the real estate market goes down, the projected recoveries may go down as well. Pachulski Stang Ziehl & Jones LLP, Counsel to Woodbridge Liquidation Trust 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. You made a difficult situation much more bearable. You have proven to be a valuable resource. As part of this fraud, Shapiro, through the Woodbridge entities, raised over one billion dollars from approximately 10,000 investorsas either noteholders or unitholders. 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. -, Woodbridge Liquidation Trust : Completion of Acquisition or Disposition of Assets (form 8-K), Woodbridge Liquidation Trust : Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Other Events (form 8-K), Woodbridge Liquidation Trust : Termination of a Material Definitive Agreement (form 8-K). GLENDALE, CaliforniaJune 16, 2022Woodbridge Liquidation Trust (the "Trust") announced that its Liquidation Trustee, with the approval of the Trust's Supervisory Board, has declared an aggregate cash distribution of $65 million on the Trust's Class A Liquidation Trust Interests (the "Class A Interests")."). Their email address iscstmail@continentalstock.com. Rather than spend significant time and money litigating these very complicated issues, the parties (including a fiduciary group for Unitholders) negotiated and settled upon allowance of claims for Unitholders at a 27.5% discount as compared to Noteholders claims. Michael I. Goldberg is the Liquidation Trustee. The Liquidation Trust will use its commercially reasonable best efforts to cause registration of the Class A Liquidation Trust Interests under the Securities Exchange Act of 1934 (the "Exchange Act") to become effective, and for the Class A Liquidation Trust Interests to be quoted with an OTC ticker symbol, as soon as reasonably practicable after the Effective Date, but in no event will the Liquidation Trust file such registration statement any later than may be required under section 12(g) of the Exchange Act or the rules and regulations promulgated thereunder. Woodbridge Liquidation Trust announced the distribution amounts to $3.44 per Class A Interest, and will be paid on or about March 1, 2022 to holders of record of Class A Interests as of close of business on February 22, 2022. All holders of Liquidation Trust Interests are urged to consult with their IRA and tax advisors regarding their specific circumstances. The prosecution of litigation and the distribution of cash by the Liquidation Trust is being administered primarily by the Liquidation Trustee. Forward-looking statements include statements (other than historical facts) that address future plans, goals, expectations, activities, events or developments. More recently he has developed a reputation for his work unraveling EB-5 fraud schemes. 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. Two classes of Liquidation Trust Interests will be distributed(i)Class A Liquidation Trust Interests, which will be distributed to holders of Allowed Class 3 Standard Note Claims, Allowed Class 4 General Unsecured Claims, and Allowed Class 5 Unit Claims, and (ii)Class B Liquidation Trust Interests, which will be distributed only to holders of Allowed Class 5 Unit Claims, and which will receive distributions only after all claims represented by Class A Liquidation Trust Interests have been paid in full. He is currently serving that sentence. Wilmington DE 19801 from 8 AM - 9 PM ET. /Filter /FlateDecode When that total amount is divided equally among Class A Liquidation Trust Interests, it equals $2.12 for each Class A Liquidation Trust Interest. The Trusts most recent published financial statements (as of December 31, 2019) indicated net assets in liquidation of approximately $334,583,000. 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. To reach the Trust regarding such a matter, please contact Pachulski Stang Ziehl & Jones, LLP, 919 North Market Street, 17th Floor, Wilmington, DE 19801, 310-203-4271, Attn: Colin Robinson, Esq. Fantastic news!!!! Regarding the distribution, the Trusts Liquidation Trustee Michael Goldberg said, "I am pleased to be able to announce this additional interim distribution to our holders. This press release may contain forward-looking statements. Continentals phone number is 212-509-4000. He is a fantastic lawyer and trusted advisor. Insufficient data to determine how WBQN.L performed against the. In this press release, all statements that are not purely historical facts are forward-looking statements. All Liquidation Trust Interests are maintained by the Liquidation Trustee (or his designee) in book entry form only. No, most likely not. 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. 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). this site without consulting a lawyer to determine if any recent changes in Pollard PLLC Follow Advertisement Advertisement Recommended USSC 13-894 Amicus Brief Mario Cometti 72 views 35 slides 4. Woodbridge Liquidation Trust : Completion of Acquisition or Disposition of Assets (form 8-.. Woodbridge Liquidation Trust : Entry into a Material Definitive Agreement, Change in Direc.. WOODBRIDGE LIQUIDATION TRUST Management's Discussion and Analysis of Financial Conditi.. Woodbridge Liquidation Trust : Other Events (form 8-K). 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. WOODBRIDGE LIQUIDATION TRUST Michael I. Goldberg, Liquidation Trustee 201 North Brand Boulevard, Unit M Glendale, California 91203 February 8, 2022 FOR IMMEDIATE RELEASE: Contact: Michael I. Goldberg, Liquidation Trustee Woodbridge Liquidation Trust Tel: 1-310-765-1550 Woodbridge Liquidation Trust Announces Cash Distribution GLENDALE, . to determine WBQN.L's volatility over the past 3 months. Woodbridge filed bankruptcy in December 2017. The amount to be distributed will depend upon the amounts collected by . It was a pleasure to watch two professionals take such pride in their work, as well as becoming personally in tune with your client (Me). I cannot thank you enough for your efforts. Including the March 2019 distribution of $3.75 per Class A Liquidation Trust Interest and the estimated net assets in liquidation for the Trust as of December 31, 2019, the estimated total recovery percentages are as follows: (i) 43.74% recovery on Net Note Claims (or 45.92% for those Noteholders electing to contribute their claims; (ii) 43.74% . The court's disgorgement order against Woodbridge and related corporate defendants will be deemed satisfied by a Liquidation Trust being formed under a plan in the Woodbridge Chapter 11 case in the U.S. District Court for the District of Delaware (Case No. 919 North Market Street17th Floor This amount includes a reserve of approximately $900,000 for amounts that are or may become payable in respect of Class A Interests that may be issued in the future upon the allowance of unresolved bankruptcy claims, in respect of Class A Interests issued on account of recently allowed bankruptcy claims, to holders of Class A Interests who failed to cash checks mailed in respect of previous distributions, as distributions withheld due to pending avoidance actions, and to holders of Class A Interests from whom the Trust is awaiting further beneficiary information. -, Woodbridge Liquidation Trust : Completion of Acquisition or Disposition of Assets (form 8-K), Woodbridge Liquidation Trust : Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Other Events (form 8-K), Woodbridge Liquidation Trust : Termination of a Material Definitive Agreement (form 8-K). Please be aware, however, that no information will be provided regarding future distribution timing or amounts other than that which is available on this website, and no advice will be given regarding IRA or tax issues. Private Securities Litigation Reform Act of 1995. The Plan was confirmed by order of the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") on October 26, 2018. This site has been created on behalf of the Woodbridge Liquidation Trust (the Trust) to provide the holders of Liquidation Trust Interests with information about the Trust. Woodbridge also announced that it is targeting an initial cash distribution to take place on or before March 31, 2019. Mr. Chin has extensive consulting and restructuring experience and has led, operated, and advised under-performing and high-growth real estate companies. ~DO=^o EJU(vZ X|L}|}SN)'7 7)nM+wz,jzG%5h6f]|FLKr^Yq'Z|5,OaE~VsZ.F]~zV:>:~Z2~o+~h7Jm SU+>07#N/SLsI+-xiI.`m}qM /Z7U]ktOpT2h-'rFX-8Dv/V^7x W5- 4md0pT d#|9qC{+by$UD WC}''J%,]gOmv_FuAi3|v%wx7%b-#*%Wn_IEB&D*j37- cS7t >7%8UQwM~f!jpMFxJ6d}J=PC~@JzIaI0%Q+KM.@|VbSGA{Ge% Awesome job! Woodbridge Liquidation Trust Declares Cash Distribution on Class A Liquidation Trust Interests, Payable on or About October . Find the latest Woodbridge Liquidation Trust (WBQNL) stock quote, history, news and other vital information to help you with your stock trading and investing. No paper certificates evidencing the Liquidation Trust Interests are expected to be distributed, but you may contact Continental Stock Transfer & Trust Company for a statement of your holdings. The Non-Contributing Claimants and the Woodbridge Liquidation Trust, as assignee of the claims of the Contributing Claimants. 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. The Liquidation Trustee is unable to provide tax advice. Shapiro was also received a 25-year prison sentence in 2019. If you elected to contribute your claims and have received a payment with respect to your notes or units following the chapter 11 case commencement other than from the Trust, you should contact the Trust immediately for instructions on paying over to the Trust the amount you received or to make other arrangements for such amount to be recouped by the Trust. 17-12560-KJC). When we realized this was a very bad investment - we did not know where to turn for help. Prudential Improperly Collected Life Insurance Premiums and Informed Claimants They Were Ineligible, SEC Releases Final Reg BI Staff Bulletin Addressing Duty of Care, These Two State Regulators Serve as Financial Markets Primary First Responders. 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. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. Mr. Goldberg regularly lectures on Ponzi schemes, EB-5 fraud and receiverships and has written numerous articles on these topics. As a result of their experience and tenacity, the arbitration proceeding was dismissed in my favor. Pursuant to the Plan negotiated by, among others, the Noteholder Committee and the Unitholder Committee, if you held an Allowed Claim against the Debtors on account of a (i) Class 3 Standard Note Claim, (ii) Class 4 General Unsecured Claim, or (iii) Class 5 Unit Claim, then pursuant to the Plan, on the Effective Date, you received Liquidation Trust Interests that entitle you to cash distributions from the Liquidation Trust.