Stable Share Price: Insufficient data to determine WBQN.L's volatility over the past 3 months. If you are being bothered by the Regulators, call Eccleston Law, you won't regret it. Legal counsel for the Trust is Pachulski Stang Ziehl & Jones LLP. All Liquidation Trust Interests are maintained by the Liquidation Trustee (or his designee) in book entry form only. Now, I know the value of hiring an important partner. The third distribution equals payment of approximately 2.8% of each Net Note Claim, and payment of approximately 2.0% of each Net Unit Claim. Log in to keep reading or access research tools. In accordance with the Plan and your ballot, if you contributed your claims, your Net Note Claim or Net Unit Claim was multiplied by 105% before being converted to Liquidation Trust Interests. Copies of the Plan and all other Court documents may be examined free of charge on the website of the Debtors' claims agent at http://cases.gardencitygroup.com/wgc. I just received this letter from the CFP Board. 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). Woodbridge Liquidation Trust Announces Cash Distribution 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 Securities and Exchange Commission (SEC) recently published a final staff bulletinon Regulation Best Interest (Reg BI), this time highlighting the duty of care, with the goal ofdefinitively outlining financial advisors ethical responsibilities. 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. The Trust does not undertake a duty to publicly update or revise such forward-looking statements or other information contained herein, whether as a result of new information, subsequent events, circumstances, changes in expectations or otherwise. The Non-Contributing Claimants and the Woodbridge Liquidation Trust, as assignee of the claims of the Contributing Claimants. 201 East Las Olas Boulevard Hiring Eccleston Law has been one of the best career decisions I have made and this "investment" to maintain my sterling regulatory record has been returned many times over. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. You made a difficult situation much more bearable. Continentals phone number is 212-509-4000. 919 North Market Street17th Floor They are the best. It was retained by the Liquidation Trust to maintain and process Liquidation Trust Interests and distributions. 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. I learned two important things working with Eccleston Law. I cannot thank you enough for your efforts. No, most likely not. The effective date of the Plan (the "Effective Date") was February 15, 2019. 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, . As you may have read, in October 2019 Robert Shapiro was sentenced to 25 years in prison. 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). Mr. Chin has extensive consulting and restructuring experience and has led, operated, and advised under-performing and high-growth real estate companies. 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. We will have a full report soon. Jim, Stephany and the whole team were a God send. Forward-looking statements are based on currently available business, economic, financial and other information and reflect management's current beliefs, expectations and views with respect to future developments and their potential effects on the Liquidation Trust and Wind-Down Entity. Continental Stock Transfer & Trust Company is Transfer Agent to the Liquidation Trust. The trustee of the Woodbridge Liquidation Trust has brought a $500 million+ lawsuit against the lawyers and law firms that it alleges helped facilitate the Woodbridge Ponzi scheme. Wilmington DE 19801 I've never had to hire an attorney for anything. 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. Deal also includes additional $300,000 for liquidation trust, Class attorneys to seek $13.55 million in fees. We really appreciate the work you did. Woodbridge Liquidation Trust OTCPK:WBQN.L Stock Report Mr. Goldberg has served as court-appointed receiver in many cases over the past two decades, helping maximize returns to victims by identifying, securing, and monetizing potential assets as quickly and efficiently as possible. Woodbridge Liquidation Trust - Overview, News & Competitors - ZoomInfo This was the best of all possible outcomes and I cannot thank you and the team enough. Signage is displayed at a Comerica Bank office building in Sherman Oaks, Calif. Deal resolves allegations bank knew of clients scheme, Additonal $300,000 ends liquidation trusts claims. 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. The Plan was confirmed by order of the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") on October 26, 2018. The Liquidation Trustee is unable to provide tax advice. Continental Stock Transfer & Trust Company can only make distributions by check. Thank You from the bottom of our hearts for all you have done for us. Holders of Allowed Class 5 Unit Claims also received Class B Liquidation Trust Interests on account of the remaining 27.5% of their unit claims. The Liquidation Trustee is unable to provide advice regarding IRA or tax issues. As part of this fraud, Shapiro, through the Woodbridge entities, raised over one billion dollars from approximately 10,000 investorsas either noteholders or unitholders. When typing in this field, a list of search results will appear and be automatically updated as you type. Insufficient data to determine how WBQN.L performed against the. Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters. The only thing that is truly heard in this un-level playing field is a bulldogs bark like Jims. Such recoveries are uncertain and the amount and timing of such recoveries are difficult to determine.". No. However, most of the loans were transferred to Shapiros own shall companies, according to the complaint. MarketScreener: Created by Investors for Investors! The Board of Managers consists of: Frederick Chin (who is also the Wind-Down CEO), M. Freddie Reiss, and Richard Nevins. He uses his thoughtful approach and calm demeanor to achieve a positive outcome for the client. Private Securities Litigation Reform Act of 1995. No stone was left upturned. The prosecution of litigation and the distribution of cash by the Liquidation Trust is being administered primarily by the Liquidation Trustee. 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. Woodbridge Liquidation Trust engages in the liquidation of the assets and liabilities of Woodbridge Group of Companies, LLC and Its Affiliated Debtors. When that total amount is divided equally among Class A Liquidation Trust Interests, it equals $3.75 for each Class A Liquidation Trust Interest. You invested in Woodbridge through your IRA custodian. 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. 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). Wilmington DE 19801 Here's a link to read more. When that total amount is divided equally among Class A Liquidation Trust Interests, it equals $2.12 for each Class A Liquidation Trust Interest. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. (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's former CEO, Robert Shapiro, agreed to pay $120 million in disgorgement and Securities and Exchange Commission (SEC) fines in 2018. You are very good at what you do. 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. Specifically, he has experience managing and enhancing liquidity and developing and implementing turnaround improvement plans and processes to achieve operational efficiency and increase accountability. %PDF-1.6 A Liquidation Trust Supervisory Board oversees the Liquidation Trustee to the extent set forth in the Liquidation Trust Agreement. 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. 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 terms of the First Amended Joint Chapter 11 Plan of Liquidation dated August 22, 2018 of Woodbridge Group of Companies, LLC and Its Affiliated Debtors (the "Plan"). >> There are several reasons why you may not have received checks. Colin Robinson, Esq. Woodbridge Group of Companies LLC investors argued that Comerica, which maintained all of the company's financial accounts, knew about the Ponzi scheme. Their email address iscstmail@continentalstock.com. The enhanced $315 Net Note Claim would then have been converted to 4.2 Class A Liquidation Trust Interests ($315 / $75 = 4.2) and, on account of such Class A Liquidation Trust Interests, would have received $15.75 (4.2 * $3.75 = $15.75). As an example, a Noteholder with $300 of Net Note Claims who did not contribute claims would have received four (4) Class A Liquidation Trust Interests ($300 / $75 = 4) and, on account of such Class A Liquidation Trust Interests, would have received $15 (4 * $3.75 = $15). In addition, the Trust reserves the right to enforce any of the foregoing remedies against any purchaser of Trust interests. I would personally recommend you and your firm to anyone. Shapiro was also received a 25-year prison sentence in 2019. % 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. All forward-looking statements speak only as of the date they were made. Woodbridge Liquidation Trust Woodbridge Liquidation Trustee vs. Woodbridge's Lawyers - SlideShare They were the best I have seen in action. 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. 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? I just wanted to say thanks again for preparing and executing my case in such a professional manner. Please do not rely on information found on Frederick Chin is the Wind-Down CEO. x\rFWp!q Brilliant too, I might add. Woodbridge's unsecured creditors (including investors holding notes and units) will receive interests in the Liquidation Trust ("Liquidation Trust Interests") which will entitle them to cash distributions over time from the Liquidation Trust. He is a fantastic lawyer and trusted advisor. Pollard PLLC Follow Advertisement Advertisement Recommended USSC 13-894 Amicus Brief Mario Cometti 72 views 35 slides 4. Continentals email address iscstmail@continentalstock.com. The Trust was established pursuant to, and on the effective date of, the Debtors First Amended Joint Chapter 11 Plan of Liquidation (the Plan). 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. If you held an Allowed Class 3 Standard Note Claim, Allowed Class 4 General Unsecured Claim, or Allowed Class 5 Unit Claim, you were entitled to receive Liquidation Trust Interests irrespective of whether you mailed back your ballot, or whether you voted for or against the Plan. from 8 AM - 9 PM ET. Delayed OTC Markets Your ethics, forward thinking and strategies are amazing. 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 approximately $40 million on the Trusts Class A Liquidation Trust Interests (the Class A Interests). Woodbridge Liquidation Trust : Entry into a Material Definitive Agreement, Financial State.. Woodbridge Liquidation Trust : Other Events, Financial Statements and Exhibits (form 8-K). Does not have a meaningful market cap ($32M), Capture your thoughts, links and company narrative. Thank you for your professional assistance with this matter. For the second distribution, the Liquidation Trust declared a distribution of $53,426,092, in the aggregate, to holders of Class A Liquidation Trust Interests (including amounts reserved for claims not yet resolved). 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. The Wind-Down Board will consist of three members: (i)Mr. Chin (the Wind-Down CEO), (ii)Mr. M. Freddie Reiss, and (iii)Mr. Richard Nevins. Claims against Robert Shapiro were not settled or released as part of the Plan. While the underlying settlement provides for the Court to order Robert Shapiro to pay in excess of $100MM for disgorgement, prejudgment interest, and a civil penalty, the Liquidation Trust has no reason to believe that Mr. Shapiro has the ability or intention to make the Court-ordered payments. Distribution Coming - Lessons Learned from the Woodbridge Scam 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. Wow! Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "project," "plan," "estimate," "intend," "potential" and other similar expressions. 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. This amount includes a reserve of approximately $850,000 for amounts that are or may become payable (a) in respect of Class A Interests that may be issued in the future upon the allowance of unresolved bankruptcy claims, (b) in respect of Class A Interests issued on account of recently allowed claims, (c) for holders of Class A Interests who failed to cash checks mailed in respect of prior distributions, (d) for distributions that were withheld due to pending avoidance actions, and (e) to holders of Class A Interests for which the Trust is awaiting further beneficiary information. to determine WBQN.L's volatility change over the past year. The world would be a much nicer place if there were more people like the two of you in it. Your Net Note Claim or Net Unit Claim was the amount of your claim in the Bankruptcy Case, which claim entitled you to Liquidation Trust Interests. All rights reserved. Woodbridge agreed to pay nearly $890 million in disgorgement in late 2018. In its Form 10-Q quarterly report for the quarter ended December 31, 2019, the Trust stated that [t]he Wind-Down Entity expects that the liquidation of the Wind-Down Subsidiaries assets will be completed during the fiscal year ending June 30, 2022. The anticipated liquidation period may be extended for various reasons, including delays in construction and/or sales. Woodbridge Group claimed that Comerica knew about the Ponzi scheme, but Woodbridge agreed to the settlement without admitting or denying any investigatory findings. 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). If a Unitholder held $300 in Net Unit Claims, and thus received 2.9 Class A Liquidation Trust Interests, that claimant would have received approximately $30.07, comprised of (i)$10.87 as part of the first distribution (2.9 * $3.75 = $10.87), (ii)$13.05 as part of the second distribution (2.9 * 4.50 = $13.05), and (iii)$6.15 as part of the third distribution (2.9 * $2.12 = $6.15). An initial distribution was announced on March 29, 2019. Continentals phone number is 212-509-4000. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. -, 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). 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. The third distribution was announced on April 1, 2020. The current members of the Liquidation Trust Supervisory Board are: Jay Beynon, Dr. Raymond C. Blackburn, Terry Goebel, Lynn Myrick, John J. ONeill, and M. Freddie Reiss. It is anticipated that additional distributions will be made in the future from time to time as funds become available. He is skilled in the matters necessary to do the job well.

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