The Liquidating Trust holds the restructured notes that were exchanged for the non-bank asset-backed commercial paper (ABCP) held in five Western Funds (Balanced Income, Balanced Growth, Diversified Equity, U. As of the end of 2015, the Fund’s unit value was 1.197, above its initial level of 0 when non-bank ABCP stopped trading.
To assist members of the Western Retirement Plan in making decisions about whether to hold or sell units of the Liquidating Trust, we provide the following slide presentation updating the various scenarios regarding the possible price of liquidating trust units at maturity.
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Note that your assets from the LT will be frozen from Monday, June 5 at 3 p.m. In July 2011, the LT value was .642 and an estimated “optimistic” Liquidating Trust price at maturity was predicted to be .90. As Western Pension Plan services have now fully transitioned to Sun Life Financial, all reallocation of investments are conducted through your new account at Sun Life. If you have not done so, you will need to register for access to your account at Sun Life. The LT posted a return of 2.16% in 2015, as the underlying assets are getting less risky, which significantly reduces the likelihood of losses between now and maturity in early 2017.
You may reallocate your Liquidating Trust assets through your account online at sunlife.ca/Western, or you may contact the Sun Life Customer Care Centre by calling 1-866-733-8612 any business day between 8 a.m. The Liquidating Trust (LT) is a fund that is held by some members of the Western Pension Plans. Western periodically sells a portion of the securities in the Liquidating Trust to fund members’ redemptions.
To find out more, Lawyer Monthly hears from Ashley B. It states that a plan may provide for the retention and enforcement by the debtor, by the trustee, or by a representative of the estate appointed for such purpose, of any such claim or interest.This site has been created to update members, former members and retirees, regarding the recommended approach, identified by the Joint Pension Board, for the management of the restructured notes received in exchange for the non-bank Asset Backed Commercial Paper held in the Western Retirement Plans.Pension Plan members who still hold Liquidating Trust (LT) in their pension account are advised to make an investment change, because, as anticipated, units held in the Liquidating Trust have now substantially matured.ET will automatically be moved to the Money Market Segregated Fund.Keep in mind that even if your LT holdings are automatically reallocated to the Money Market Segregated Fund, you can still take action in the future to reallocate to another investment. ET, you may select an alternative investment option. If you currently hold Liquidating Trust units, you will also be contacted by Sun Life to remind you to take steps to reallocate your LT holdings. The Fund does not accept any new contributions and members have had the ability to make redemptions since May 2010.
By establishing a liquidating trust pursuant to section 1123(b)(3) in a confirmed plan of reorganization or liquidation, a debtor can transfer causes of action and other assets to a trust, for future liquidation and distribution to the debtor’s creditors, and avoid delaying plan confirmation.