Braestone Settlement Approval Order
On November 28, 2018 the Court issued an order (“Braestone Settlement Approval Order”), which, among other things:
Approved a settlement offer made by the Baestone borrower in respect of the Braestone loan advanced by BDMC;
Directs the Trustee to make a further distribution of Realized Property to all syndicated mortgage loans entitled to such Realized Property following the closing of the Braestone settlement, and to distribute 80% of Realized Property going forward; and
Approved the activities of the Trustee set out in the First Report, Second Report, Third Report and approved the fees and disbursements of the Trustee and its legal counsel from the date of the Appointment Order through to September 30, 2018.
