Latest quarterly report was out yesterday. There will be no distribution in February. There is a hearing for the judge to consider the sale of the Notes to raise cash.
According to the quarterly statement, the Piers in traunche 4 are indeed up next. Cash is set aside for all remaining disputed claims.
There are four main sources of cash/assets/potential assets to distribute to holders of LTI shares:
1.) WMRC Notes (motion to sell notes instead of distribute is in March)
2.) Tax refunds (currently still under dispute with the states)
3.) Disputed claims being reduced (how much is obviously unknown)
4.) D&O insurance claims, law suites filed and progressing.
It appears the the GS law suite has been dismissed as likely unprofitable and most other 3rd party law suites are also unlikely. Hopefully we get a good result on the D&O insurance suites against officers and such.
This post is my own opinion, and should not be relied on for your investment decisions.
