Woodbridge Liquidation Trust 8-K, filed Nov 16, 2023
Woodbridge Liquidation Trust (WBQNL)
8-K
2023-11-16
For: 2023-11-10
View Original
Added on
April 06, 2026
About this 8-K
Woodbridge Liquidation Trust filed this 8-K on November 16, 2023, reporting on events of November 10, 2023.
Items reported
- Item 1.01: Entered into a material agreement
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): November 10, 2023
(Exact name of registrant as specified in its charter)
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No.
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(State or other jurisdiction of incorporation or organization)
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(Commission File Number)
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(IRS Employer Identification No.)
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(Address of principal executive offices)
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(Zip Code)
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(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):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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None
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None
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None
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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.☐
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Item 1.01
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Entry into Material Definitive Agreement
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As of November 10, 2023, Woodbridge Liquidation Trust (the “Trust”) entered into a definitive written agreement to settle its pending
litigation against the defendant law firm Rome McGuigan P.C. and attorney Brian Courtney in the cases of Goldberg v. Halloran & Sage LLP, et al., Case
No. 19STCV42900 (Cal. Super. Ct., L.A. Ctny.), which commenced on December 2, 2019, and Goldberg v. Rome McMGuigan, P.C., et al., Case No. CV
20-9958-JFW(SK) (U.S. Dist. Ct. Cent. Dist. Cal.), which commenced October 28, 2020 (the “Actions”). In the Actions, the Trust asserted claims against Robert Shapiro’s former legal counsel for aiding and abetting securities fraud, aiding
and abetting conversion, aiding and abetting common-law fraud, aiding and abetting breach of fiduciary duty, professional negligence, and negligent misrepresentation. The terms of the settlement are contained in a Settlement Agreement and
Mutual Release among Rome McGuigan P.C., Mr. Courtney, and Michael Goldberg as Liquidation Trustee on behalf of the Trust.
Under the agreement, the Trust has agreed to dismiss its claims against Rome McGuigan P.C. and Mr. Courtney for $5,000,000. Such amount is
expected to result in proceeds to the Trust of approximately $3,313,000 million, net of attorneys’ fees and other litigation expenses.
The settlement is subject to the California Superior Court granting a motion by Rome McGuigan P.C. and/or Mr. Courtney for a court order
finding that the settlement has been made by the parties in good faith (unless such condition is waived in writing by both Rome McGuigan P.C. and Mr. Courtney). Payment of the settlement amount is due within 30 days after such order being
entered.
The settlement agreement relates to the Trust’s claims only against defendants Rome McGuigan P.C. and Mr. Courtney and does not effect a
release of the Trust’s claims against any of the other defendants in the Actions. No assurance can be given that the recovery, if any, by the Trust against any other defendant or defendants in the Actions will realize a comparable amount
or be obtained on similar terms.
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 result 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.
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Woodbridge Liquidation Trust
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By:
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/s/Michael Goldberg
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Michael Goldberg
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Liquidation Trustee
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Date: November 15, 2023
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