Dear Victims, Trust Beneficiaries and Interested Parties: 

On June 15, 2011 we reported an overall update on the status of matters affecting the 1031 Debtors Liquidation Trust. We now would like to share a brief update on a few key items included in the June 15 report:

 

1. Payments from the settling parties are being received as disclosed in the chart posted on the website with the previous newsletter . 

2. The Liquidation Trust is still on target for a 5% distribution to be made in the latter half of September. The Wave III distribution from the Class should occur at approximately the same time. You will note that we continue to hold back $2,500,000 so that we have adequate funding for the Silicon Valley Law Group litigation and the expenses of the Liquidation Trust. This matter continues in discovery, with an anticipated trial date to be early next year. 

3. Our Louisiana counsel continues to be in contact with Chesapeake and is working to negotiate favorable terms for a lease and revenue sharing agreement. 

We will keep you updated as continued progress is made.

 

Best Regards, 

THE 1031 DEBTORS LIQUIDATION TRUST 

 

Jerry A. McHale, Jr. 

Gerard A. McHale, Jr., P.A. 

Trustee