Definition of liquidating trust computer keeps updating
Such forward-looking statements represent our current expectations, assumptions, estimates and projections about the Trust and include, but are not limited to, the following: Words such as anticipates, expects, intends, plans, believes, seeks, estimates or variations of such words and similar expressions are intended to identify such forward-looking statements.These statements are not guarantees of future payments to holders of beneficial interests in the Trust and are subject to risks and uncertainties that are difficult to predict.Reorganized WMI, as a successor of WMI, filed a Form with the SEC on March 23, 2012 disclosing, among other things, (a) the occurrence of the Effective Date and the emergence of Reorganized WMI from the Debtors chapter 11 case, (b) the transfer of certain of the Debtors assets to the Trust, as further described below (which assets are referred to herein as the ), (c) the cancellation of WMIs existing equity interests, (d) the amendment of Reorganized WMIs articles of incorporation and bylaws, and (e) the issuance by Reorganized WMI of 200,000,000 shares of new common stock to (A) holders of certain allowed claims against, or former equity interests in, the Debtors, and (B) a disputed equity escrow that is administered by the Liquidating Trustee as escrow agent (the to the Debtors for certain limited purposes and, as such, is responsible for future reporting to the Bankruptcy Court with respect to the Debtors chapter 11 cases. On or shortly after the Effective Date, the Liquidating Trust Assets were transferred to the Trust pursuant to the Plan for the benefit of certain holders of claims against, or equity interests in, the Debtors (the ).Such reporting obligations include the filing of quarterly summary reports () with the Bankruptcy Court, which reports are prepared by the Trust for the purpose of complying with the quarterly operating guidelines as described in the Chapter 11 Trustee Handbook, United States Department of Justice, May 2004, in accordance with 28 U. Trust Beneficiaries who were projected to receive value on account of their Allowed Claims (as defined in the Plan) against the Debtors have been issued LTIs evidencing their right to receive distributions from the Trust if and to the extent sufficient cash is available with respect thereto.The Filed Plan was subsequently amended by the Modification of Seventh Amended Plan, dated January 9, 2012, the Second Modification of Seventh Amended Plan, dated January 12, 2012, and the Third Modification of Seventh Amended Plan, dated February 16, 2012 (the Filed Plan, along with all modifications, the ).
On the Effective Date, the Plan became effective and a notice of the Effective Date of the Plan was filed with the Bankruptcy Court. The QSRs are also filed by the Trust with the SEC under cover of Form filed with the SEC.All reports filed by the Trust with the SEC are available free of charge via EDGAR through the SEC website at . 20549 or by calling the SEC at ), a subsidiary of WMI, and advised WMI that the receiver was immediately taking possession of WMBs assets.In addition, the public may read and copy materials filed by the Trust with the SEC at the SECs public reference room located at 100 F Street, N. Immediately after its appointment as receiver, the FDIC sold substantially all the assets of WMB, including the stock of WMB fsb, to JPMorgan Chase Bank, National Association ().Accordingly, the Trust filed a request with the Internal Revenue Service and on November 21, 2017, the IRS notified the Trust that extension of the Trusts term will not adversely affect the determination that the Trust is a liquidating trust and ruled that the term of the Trust may be extended up to an additional three (3) years.As a result, the term of the Trust may run through March 19, 2021 (unless dissolved earlier or otherwise extended).