Friedmans liquidating trust access table updating time stamp
At this time, the Trustee does not have sufficient information to be able to provide an accurate estimate of the exact amount of monies to be distributed and what each investors' pro rata share will be.The ultimate answer to this question depends on many factors not entirely within the Trustee's control, including, for example, the financial health and solvency of the defendants sued, the total amount of recoveries collected and the total amount of litigation costs to achieve the recoveries. That too, points to the cutoff period being the petition date for purposes of calculating new value. During the pretrial conference, the Trustee conceded that Texstars had 4,654 in new value. “It would make sense that the calculation of the amount of the preference, and application of any new value reduced by subsequent transfers, would relate to that time period.” The Court also agreed that the “hypothetical liquidation test” was to be performed as of the petition date. When the parties were unable to resolve the matter, the case went to trial.
Joseph Blimline was sentenced to 240 months in federal prison on May 3, 2012 for his role in the Provident investment fraud.LEARN MORE Brendan Coughlin, Henry Harrison, Russ Melbye, and Mark Miller are all serving terms of varying length in federal prison.LEARN MORE The Trust is in the process of liquidating the remaining assets of the Provident entities including pursuing claims brought by the Trust against numerous third parties. Please consult a qualified tax advisor or the IRS regarding Revenue Procedure 2009-20 and other tax advice pertaining to your investment in Provident Royalties, LLC.Friedman Kaplan Seiler & Adelman LLP was founded in 1986 by seven attorneys who quickly built a widelyrecognized reputation for providing exceptional representation, particularly in matters of special complexity and first impression.Since that time, the firm has created a practice that prioritizes intellectual strength and agility over size, allowing its attorneys to resolve matters optimally, creatively, and cost-efficiently.