IMO THEY RECORDED RELEASING EQUITY OWNERSHIP IN A BOOK ENTRY FORM. AI - The statement "A holder of a Liquidating Trust Interest recorded in this book-entry system will be deemed the legal holder of record of that interest for purposes of all applicable U.S. federal and state laws" means: For U.S. federal and state legal purposes, whoever is listed as the owner of a Liquidating Trust Interest in the electronic book-entry recordkeeping system maintained by the Liquidating Trust will be considered the official legal holder of that interest.
In other words, the book-entry records are the definitive source for determining the legal holders of the beneficial interests in the Liquidating Trust. The person or entity recorded in that system as holding a particular Liquidating Trust Interest will be treated as the owner of record for that interest under all relevant U.S. federal and state laws governing such matters