Disputed ownership funds liquidating trust

This means that a relative large part of the shareholder base isn’t getting any money from future distributions, either because of their own inattention or the inability of their broker to process the form.Based on some unhappy shareholder letters in the docket not all brokers were willing to do this.The company picked a sort of random date (August 30, 2016) as the record date of which shareholders would be eligible to receive all future liquidation distributions.As a result the stock became basically worthless after that date, but since the stock continued to be traded for some time it offered shareholders a nice way to profit twice.

As an added twist, because the payment wasn’t made to all shareholders it couldn’t be processed by the Depository Trust Company (DTC) and instead shareholders got a paper check.Your broker might not notify you of the requirement to do the paperwork, is unable or unwilling to do the paperwork, or things simply get lost in the mail.As a result shareholders owning 75.05% of the company provided tax forms and equity certification forms.After paying an initial liquidation distribution last year the trustee sent a letter to shareholders that they would be required to fill out an equity distribution form and a form W8/W9 in 180 days in order to be eligible for future distributions.This piece of paperwork proved a bit tricky to complete.

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