Notice of Distribution
By notice given November 12, 2019, the Chapter 7 Trustee announced that he was prepared to make a distribution in respect of the Allowed Claim. Shortly following the Record Date (as defined below) the Trustee will forward $1,426,235.17 (the “Net Distribution”)4 to the Depositary Trust Company (“DTC”), as the sole holder of record under the Trust Agreement. The Trustee understands that DTC will, in turn, distribute the Net Distribution (net of any additional deductions which may be applicable under the Trust Agreement) on a pro rata basis, to ultimate beneficial holders, who are holders of the Preferred Securities as of December 20, 2019 (the “Record Date”). The Trustee further understands that DTC will likely distribute such Net Distribution shortly following the Record Date. The rate of the Distribution per $25 stated liquidation amount per Preferred Security is 0.375820. The rate per stated liquidation amount per Preferred Security was derived from the following calculation: $1,426,235.17 (the amount of the Net Distribution being disbursed to the holders) divided by $94,875,000 (the aggregate liquidation amount of the Preferred Securities) multiplied by 25.5 The Trustee understands that a few additional such distributions to holders are anticipated in the future. However, the exact timing and amount of any further distributions remains uncertain. Ultimate beneficial holders are advised to contact their respective brokers or custodians regarding their holdings to ensure that they receive distributions (if any) directly from such brokers or custodians in a timely manner.
postcog@postcog.postpro.net