$25 Million Coming Out June 12th

Below is the announcement that came out hours ago. Hopefully more money to follow soon!

Here is the link to the full story.

May 11, 2023 05:34 PM Eastern Daylight Time

GLENDALE, Calif.–(BUSINESS WIRE)–Woodbridge 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 $25 million on the Trust’s Class A Liquidation Trust Interests (the “Class A Interests”). This amount includes a reserve of approximately $120,000 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.

The distribution amounts to $2.18 per Class A Interest, and will be paid on or about June 12, 2023 to holders of record of Class A Interests as of close of business on May 31, 2023.

source https://gregandersonlessonslearned.me/2023/05/12/25-million-coming-out-june-12th/

Siena Drive Sold March 30th

Here is the link to see that one more house closed for us. Just happened on March 30th. https://www.zillow.com/homedetails/638-Siena-Way-Los-Angeles-CA-90077/20526701_zpid/

source https://gregandersonlessonslearned.me/2023/04/04/siena-drive-sold-march-30th/

One More Home under contract!

Sales/Settlement of Real Estate Assets

On January 30, 2023, the Company entered into an agreement to sell its last single-family home remaining in the Company’s real asset portfolio. The closing of the sale is subject to a number of contingencies, including the satisfactory completion of the purchaser’s due diligence. No assurance can be given that all such contingencies
will be satisfied or that the closing of the sale will occur. Neither the Company nor any of its affiliates has any material relationship with the purchaser other than in respect of the transaction.

https://woodbridgeliquidationtrust.com/wp-content/uploads/2023/02/AS-FILED-Woodbridge-Liquidation-Trust-Q2-2023.pdf

source https://gregandersonlessonslearned.me/2023/03/01/one-more-home-under-contract/

2022 Tax info from the Trustee

Below is what the trustee published this week; if you recall the early years they took way into the summer to get these to us. So March isn’t so bad I guess!

The Trust is endeavoring to complete its 2022 income tax return prior to the April 18, 2023 income
tax return filing deadline. It is anticipated that the Grantor Letters will be mailed to the Trust
beneficiaries by the end of March 2023. If this timeframe presents a challenge in completing
your income tax return by the filing deadline, you should consider requesting an extension
of the filing due date from the appropriate federal and state authorities.

Generally, periodic distributions received by Trust beneficiaries from the Trust will not be directly
taxable to beneficiaries. However, such distributions will affect the adjusted tax basis of each
beneficiary’s interest in the Trust.

Click to access Woodbridge_Liquidation_Trust_-_2022_Grantor_Letter_Guidance.pdf

source https://gregandersonlessonslearned.me/2023/02/15/2022-tax-info-from-the-trustee/

Well that was productive!

I just posted an hour ago on the Trustee getting out those letters we need to file income tax and I got one person saying they got their letter from the Trustee’s office in today’s mail … and this from another person who contacted Colin. (see below)

The Trust’s accountants are working on the Grantor Letters and intend to have the letters out prior to the tax deadline although there is a possibility that timing slips. If I get a further update on timing, I will let you know. Colin R. Robinson
Pachulski Stang Ziehl & Jones LLP
Tel: 302.778.6426 | Cell: 917.846.2053 | Fax: 302.652.4400
crobinson@pszjlaw.com

Thanks to all who helped on this! And ‘no’ I don’t know when the next distribution will be declared (sadly).

Here’s to a productive 2023 by the trustee!

source https://gregandersonlessonslearned.me/2023/02/06/well-that-was-productive/

Taxes for 2022

Several have asked ‘will be file our 2022 income taxes on time this year, or have to extend as in past years?’

This is a great question for the attorneys who work for the Trustee, here’s there contact. (up date me plz with what you find!)

Pachulski Stang Ziehl & Jones LLP, Counsel to Woodbridge Liquidation Trust
Colin Robinson, Esq.
Bradford Sandler, Esq.
919 North Market Street
17th Floor
Wilmington DE 19801
(310) 203-4271

source https://gregandersonlessonslearned.me/2023/02/06/taxes-for-2022/

Updates …..?

As most of you know I haven’t updated in a while – my norm is once a month, sometimes more often. The last communication from the trustee was mid June (the 16th). The only SEC filing was the renewal of the managers contract to operate the trust assets.

I have a young lawyer that would research the updates on public court records for the California court system, BUT California (of course) charges a $200 fee to access their records (not common for other states understand). Without paying that fee I can’t get a brief on the status of the various lawsuits.

So all that to say – I have no update for us. Its been a very quiet second half of 2022.

Feel free to put into the comments updates you know of for the group … that’s what I’m down to at this point.

source https://gregandersonlessonslearned.me/2022/12/15/updates/