Omnibus Order
On May 5, 2020, the Court granted an order (“Omnibus Order”):
approving certain amendments to the interim stabilization measures of the Appointment Order to:
authorize the Trustee to distribute 50% of the Realized Property to the applicable Investors, including, without limitation, authorizing and directing the Trustee to effect a distribution equal to 50% of the Bayview, Gotham, and HVS Realized Property; and
authorize the Trustee to use the retained Realized Property as an administrative holdback to fund the cost of these proceedings, including to pay operating and professional costs associated with the SML Administration Business; and
approving the First Report of the Trustee dated January 22, 2020, the Second Report dated March 6, 2020, the Supplement to the Second Report dated April 13, 2020, as well as the Trustee’s activities, the Trustee’s fees and disbursements, including the fees and disbursements of its counsel, for the period from the date of the Appointment Order to January 31, 2020.
The Court also granted a further order (the “LRO Direction Order”) which directs the applicable Land Registry Office to, upon the filing by the Trustee of one or more certificate(s) with the Court, expunge and delete the Appointment Order from title to the property(ies) identified in such certificate(s).
Copies of the Omnibus Order, the LRO Direction Order, and the related endorsement are provided below.
