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Woodbridge Liquidation Trust - Class A (WBQNL) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing total assets of $65.17 million and total liabilities of $21.57 million. Net assets in liquidation for all interest holders increased to $43.61 million.
The Trust reported a decrease of $4.11 million in net assets restricted for qualifying victims due to distributions declared of approximately $4.15 million.
The Trust's net assets for all interest holders increased by $4.19 million, attributed to changes in the carrying value of assets and liabilities.
The Trust has recognized an insurance receivable of approximately $4.32 million related to a construction defect claim, which is included in other assets.
The Trust continues to pursue litigation related to avoidance actions, with 16 actions still pending. Settlements have resulted in cash payments and reductions of claims against the Trust.
The Trust has suspended additional distributions to interest holders pending the resolution of a construction defect claim. The Trust distributed $4.15 million to qualifying victims from the sale of forfeited assets.
The Trust's primary sources of liquidity include cash, cash equivalents, and short-term investments totaling $58.28 million, with $0.73 million restricted.
The Trust has accrued liquidation costs of $20.78 million, which include development and holding costs and general administrative expenses.
The Trust's financial statements are prepared in accordance with the liquidation basis of accounting, reflecting estimated net realizable value or liquidation value of assets and liabilities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Woodbridge Liquidation Trust - Class A quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.