Omnibus Order
On April 12, 2022, the Court granted an Order (“Third Omnibus Order”):
Approving an amendment to paragraph 3 of the First Omnibus Order to replace all references to “50%” with “65%”, so that the Trustee shall be required to distribute 65% of any Realized Property obtained pro rata to the lnvestors entitled to such funds, whether received before or after the date of the Third Omnibus Order;
Authorizing a distribution to the applicable Investors in an amount equal to 65% of the Realized Property, whether received before or after the date of the Third Omnibus Order, including authorizing and directing the Trustee to distribute:
to the Progress Investors 65% of the residual proceeds received by the Trustee from the Progress Sale Transaction; and
to the Unionvillas Investors 65% of the initial distribution received by the Trustee from the Unionvillas Receiver; and
Approving the (i) Fourth Report and the Fifth Report and activities of the Trustee described therein; and (ii) Trustee’s fees and disbursements, including the fees and disbursements of its counsel, for the period from March 1, 2021 to February 28, 2022.
Copies of the Third Omnibus Order and the related endorsement are available below.
