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Thursday, 06/23/2022 6:58:11 PM

Thursday, June 23, 2022 6:58:11 PM

Post# of 728450
Feedback from a lawyer: " I can tell you generally (and this is not legal advice) that it is highly unlikely that a chapter 11 plan results in any payment to former equityholders of the debtor on account of that equity, and a certificate of cancellation for a Delaware statutory trust is generally filed when the trust has no remaining assets and has completed its winding up and liquidation. However, the terms of the trust agreement may provide that when the amount of trust assets falls below a certain amount, or on other conditions, that the trustee pays the amount remaining in the trust over to another party. I would need to see the terms of the trust agreement to make that determination."
The lawyer is very expensive.In our case,after filing the certificate of cancellation, the winding up continued.
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