WBQNL 8-K
Woodbridge Liquidation Trust (WBQNL)
8-K
2024-07-10
For: 2024-07-03
View Original
Added on
April 06, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 3, 2024
(Exact name of registrant as specified in its charter)
|
|
No.
|
|
|
(State or other jurisdiction of
incorporation or organization)
|
(Commission File Number)
|
(IRS Employer Identification No.)
|
|
|
|
|
|
(Address of principal executive offices)
|
(Zip Code)
|
(310 ) 765-1550
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities registered pursuant to Section 12(b) of the Act:
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
|
None
|
None
|
None
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule
12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| 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
statements in this current report include statements regarding the receipt and amount of settlement proceeds. Factors which might cause actual results to differ materially include, but are not limited to, any failure to obtain the court order on
which the settlement is conditioned and higher than expected legal fees and costs associated with the Trust’s litigation. All forward-looking statements speak only as of the date they were made. The Trust does not undertake a duty to publicly
update or revise such forward-looking statements or other information contained herein, whether as a result of new information, subsequent events, circumstances, changes in expectations or otherwise.
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
|
|||