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Posted by / 13-Feb-2016 14:41

Touch america holdings liquidating trust

LINCOLN, Neb., June 30, 2017 (GLOBE NEWSWIRE) -- Crossroads Liquidating Trust (the “Liquidating Trust”) today announced that it will pay a cash distribution of

LINCOLN, Neb., June 30, 2017 (GLOBE NEWSWIRE) -- Crossroads Liquidating Trust (the “Liquidating Trust”) today announced that it will pay a cash distribution of $1.60 per unit (the “Distribution”) to the holders of beneficial interests in the Liquidating Trust on or around July 12, 2017.

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LINCOLN, Neb., June 30, 2017 (GLOBE NEWSWIRE) -- Crossroads Liquidating Trust (the “Liquidating Trust”) today announced that it will pay a cash distribution of $1.60 per unit (the “Distribution”) to the holders of beneficial interests in the Liquidating Trust on or around July 12, 2017.

Liquidating Trust assets will be the source of funds for the Distribution.

Order Directing Joint Administration of Related Chapter 11 Cases. 4) LLC, UCI-Airtex Holdings, Inc., UCI International, LLC, UCI Holdings Limited, UCI Pennsylvania, Inc. The docket in the chapter 11 case of UCI International, LLC, Case No.

An order has been entered in this case directing the procedural consolidation and joint administration of the chapter 11 cases of Airtex Industries, LLC, Airtex Products, LP, ASC Holdco, Inc., ASC Industries, Inc., Champion Laboratories, Inc., UCI Acquisitions Holdings (No. 16-11354 MFW) should be consulted for all matters affecting this case.

These assets will be held in Renminbi until such time that approval is granted.

As a result, stockholders will not receive the net asset value, less liquidation costs, for these assets in the liquidating distribution, and instead will receive an interest in a liquidating trust (the Trust) that is anticipated to make additional distributions to stockholders upon repatriation of amounts under the QFII program.

.60 per unit (the “Distribution”) to the holders of beneficial interests in the Liquidating Trust on or around July 12, 2017.

In the role of liquidating trustee, (beginning before the trust is formed) we administer and manage the liquidating trust to sell remaining assets, settle open contracts, pay creditors and distribute any available funds to the company’s former stockholders. On the contrary, we prefer to be retained early enough in the wind down process to avoid insolvency and transition smoothly from the public entity to the liquidating trust structure.A liquidating trust is a new legal entity that becomes a successor in interest to the liquidating company at the point the company dissolves and all its assets and liabilities move to the trust.Stockholders in the company become unit holders a/k/a beneficiaries of the trust. The Debtor's Amended Liquidating Chapter 11 Plan (docket no. Williams (the "Plan Trustee") was appointed as the plan trustee for the plan trust that was established under the Plan, the Plan Trust Agreement attached as Exhibit A to the Plan, and the Confirmation Order. (the "Debtors") filed voluntary petitions for relief under chapter 11 of the United States Bankruptcy Code with the United States Bankruptcy Court for the District of Delaware (the "Court").

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