Alp liquidating trust k 1, great liquidating trust k-1

As noted above, under the terms of the Amendment, the General Partner was authorized, in its sole discretion, to complete the liquidation of the Partnership by forming a Liquidating Trust. The Resident Trustee shall provide prompt notice to the Administrator of its performance of any such acts. In addition, the Administrator may, subject to the proviso in the preceding sentence, distribute any of the Trust Property to the Beneficiaries in-kind. In no event shall the Administrator or the Trust distribute to the dissolved Partnership any Trust Property.

Amounts payable to or by the Administrator or its affiliates do not bear interest and are expected to be paid in future periods. Consolidated Statements of Cash Flows. Plaintiff filed a motion to add punitive damages that was denied without prejudice.

Berkowitz and Fairholme Funds, Inc. Cash and cash equivalents may consist of U. The Resident Trustee shall not be liable for the acts or omissions of the Administrator, the Partnership or the Trust.


Notes to Financial Statements. Prepaid expenses and other assets. There is no public market for beneficial interest units.


This report, including this Management's Discussion and Analysis of Financial Condition and Results of Operations, contains forward-looking statements. These associations have not filed suit. The transferee consequently will not be entitled to receive any cash distributions or any allocable share of profits or losses for tax purposes until such next succeeding calendar quarter. There are pending motions to stay and for summary judgment which have not been set for hearing. The case has been transferred to the complex litigation division of the court.

The motion to expand the class was withdrawn. Evaluation of Disclosure Controls and Procedures. Each Beneficiary shall take and hold the same subject to all the terms and provisions of this Agreement. Borrowers have delivered to Agent current Ownership and Encumbrance Reports on all property comprising the Mortgaged Properties. Principles of Consolidation.

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Waterproofing Systems, Inc. Changes in Internal Control over Financial Reporting. Documents Incorporated by Reference. The Administrator shall maintain any amendment of this Trust Agreement in the same place where the original Trust Agreement is maintained. Borrowers shall have delivered to Agent updated Schedules to the Credit Agreement as appropriate to reflect the status of the Schedules as of the date hereof.

Great liquidating trust k-1

Actual results could differ from those estimates. The motion to dismiss Arvida was granted. All representations and warranties of the Borrowers contained in this Amendment are true and correct.

ALP LIQUIDATING TRUST - Current report filing (8-K) EXHIBIT

Risk factors include the time and expense to resolve all obligations, liabilities and claims, including contingent liabilities and claims that are not yet asserted but may be made in the future. The Partnership will vigorously pursue its interests in the policies written by the plaintiff. Director and Executive Officers of the Registrant. The Partnership is unable to determine what portion of its fees and damages in the Rothal case, if any, may be recovered under the Scottsdale policies.

The Partnership intends to vigorously defend itself. Arvida has filed a motion to dismiss the Trinity counterclaim. The Trust is not required to have, nor were we engaged to perform an audit of its internal control over financial reporting. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Simultaneously with the execution of this Amendment, Barnett Bank, N.

The above selected consolidated financial data should be read in conjunction with the consolidated financial statements and the related notes appearing elsewhere in this annual report. Each Beneficiary shall be entitled to participate in the rights and benefits due to a Beneficiary hereunder according to the Beneficiary's Beneficial Interest Units. General and administrative. Borrowers shall pay such sums immediately upon receipt of notice of such amounts from Agent.

Delaware State of organization. All schedules have been omitted as the required information is inapplicable or immaterial, free or the information is presented in the consolidated financial statements or related notes. Our responsibility is to express an opinion on these financial statements based on our audits. The current and prior three years remain open for examination.

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Wholly owned subsidiaries of The St. The Administrator shall take such action as it deems appropriate to enforce the rights of the Trust to the Trust Property so that the Beneficiaries may receive the full benefit thereof. Under the guidance, liquidation basis of accounting should only be used when liquidation is imminent, as defined in the guidance.

  • Any successor Administrator appointed hereunder shall execute an instrument accepting such appointment hereunder and shall file such acceptance with the trust records.
  • Net cash provided by financing activities.
  • Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
  • Non Controlling Interests.

These factors include the time and expense to resolve all obligations, liabilities and claims, including contingent liabilities and claims that are not yet asserted but may be made in the future. Any such payment by Agent shall be added to the Obligations of Borrowers and shall bear interest from the date advanced to the date of recovery at the Default Rate. The above recitals are true and correct and are incorporated herein by this reference.


The Arvida defendants have filed their answer to the amended complaint. Lexington joined Waterproofing and Zurich in its counterclaim alleged due to their interest in the outcome. Net loss per beneficial interest unit.

All of the Trust's expenses shall be billed directly to and paid by the Trust. Richard Rothal et al, Case No. The parties and their insurers have entered into agreements in principle to settle this case. Arvida entered into a sub-management agreement with St.

In this complaint, Arvida sought, among other things, a declaration of its rights under its policies, attorney fees and costs, and such other relief as the court deems appropriate. Plaintiffs have filed a motion to expand the class to include other homes in Weston. If the matter is not settled, the defense of the case will proceed.

Consolidated Balance Sheets. Document Incorporated by Reference. Vice President and Chief Financial Officer.

  1. The liability also includes real estate taxes and other miscellaneous accruals.
  2. Such accruals are based upon developments to date, management's estimates of the outcome of these matters and its experience in such matters.
  3. The Partnership has filed a motion to dismiss the case for lack of jurisdiction and a motion to stay.
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