indian caucasian dating site - The attleboro mutual liquidating trust

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/PRNewswire/ -- WMI Liquidating Trust (the "Liquidating Trust"), formed pursuant to the confirmed Seventh Amended Joint Plan of Affiliated Debtors under Chapter 11 of the United States Bankruptcy Code (as modified, the "Plan") of Washington Mutual, Inc., today announced that it will make a cash distribution (the "Distribution") of approximately to certain beneficiaries.

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Because liquidating trusts are formed to maximize value and distribute to creditors some or all of the proceeds of divested assets of a formerly distressed and now liquidated entity, trusts and trustees are subject to scrutiny of already disgruntled beneficiaries or other third parties who may disagree with the manner in which the trustee is attempting to liquidate otherwise illiquid assets.

Adding to the concern of trustees is the fact that, by its nature, the trust is designed to liquidate and distribute all of its assets.

Absent this provision, a debtor would be required to investigate and prosecute all avoidance and other causes of action prior to confirming a plan, which may take years.

Last modified 01-Sep-2019 03:37