Woodbridge Liquidation Trust Enters Material Definitive Agreement

TL;DR

Woodbridge Liquidation Trust signed a big deal on July 3rd. Details TBD.

AI Summary

On July 3, 2024, Woodbridge Liquidation Trust entered into a material definitive agreement. The filing does not provide specific details about the agreement, the other parties involved, or any associated dollar amounts.

Why It Matters

This filing indicates a significant new contract or deal for the Woodbridge Liquidation Trust, which could impact its future operations and financial standing.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing regarding the material definitive agreement introduces uncertainty about its nature and potential impact.

Key Players & Entities

• Woodbridge Liquidation Trust (company) — Registrant
• July 3, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $5,000,000 — del for a cash payment in the amount of $5,000,000. Such amount is expected to result in p
• $3.3 m — proceeds to the Trust of approximately $3.3 million, net of attorneys' fees and other

Filing Documents

• ef20032235_8k.htm (8-K) — 27KB
• 0001140361-24-032822.txt ( ) — 154KB
• wlt-20240703.xsd (EX-101.SCH) — 4KB
• wlt-20240703_lab.xml (EX-101.LAB) — 20KB
• wlt-20240703_pre.xml (EX-101.PRE) — 15KB
• ef20032235_8k_htm.xml (XML) — 4KB

01

Item 1.01 Entry into Material Definitive Agreement. On July 3, 2024, the last signatory to a definitive settlement agreement (the "Settlement Agreement") among Woodbridge Liquidation Trust (the "Trust"), Haight Brown & Bonesteel, LLP ("HBB") and Ted Handel ("Handel"), executed such Settlement Agreement pursuant to which the Trust agreed to settle its pending claims against HBB and Handel in the case of Goldberg v. Halloran & Sage LLP, et al., Case No. 19STCV42900 (Cal. Super. Ct., L.A. Ctny.) (the "Action"). In the Action, which commenced on December 2, 2019, the Trust asserted claims against HBB and Handel for aiding and abetting securities and other fraud, aiding and abetting breach of fiduciary duty, negligent misrepresentations, professional negligence, and aiding and abetting conversion. Under the agreement, the Trust has agreed to dismiss its claims against HBB and Handel for a cash payment in the amount of $5,000,000. Such amount is expected to result in proceeds to the Trust of approximately $3.3 million, net of attorneys' fees and other litigation expenses. Payment of the settlement amount is due within 30 days after the execution of the settlement agreement. Regarding Forward-Looking Statements This current report may contain forward-looking statements. Forward-looking statements include statements (other than historical facts) that address future plans, goals, expectations, activities, events or developments and are based on current expectations and are subject to substantial risks, uncertainties and other factors, many of which are beyond our control and not all of which can be predicted by the Trust. Accordingly, the Trust cannot guarantee that any forward-looking statements will be realized, as actual results may differ materially from those identified or implied in any forward-looking statement. Forward-looking

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Woodbridge Liquidation Trust Date: July 10, 2024 By: /s/ Michael I Goldberg Michael I. Goldberg, Liquidation Trustee

View Full Filing

View this 8-K filing on SEC EDGAR