Liquidation

Fine imposed for preventing the Supervisory Authority from performing an inspection

Saturday, April 4, 2020 - 12:00am

in liquidation with the seat in Katowice, a company from telemarketing industry, for making it impossible to conduct inspection.

Key Points: 
  • in liquidation with the seat in Katowice, a company from telemarketing industry, for making it impossible to conduct inspection.
  • Therefore, the supervisory authority found it necessary to conduct inspection activities at the entity which actually operated the telephone calls and processed the data.
  • On two consecutive days of the planned inspection activities, the company made it impossible to carry out the inspection twice.
  • In determining the amount of the fine, the supervisory authority did not identify any attenuating circumstances affecting the amount of the fine.

Woodbridge Liquidation Trust Announces Cash Distribution

Wednesday, April 1, 2020 - 7:38pm

Woodbridge Liquidation Trust (the Trust) announced that its Liquidation Trustee, with the approval of the Trusts Supervisory Board, has declared an aggregate cash distribution of $25,000,000 on the Trusts Class A Liquidation Trust Interests (the Class A Interests).

Key Points: 
  • Woodbridge Liquidation Trust (the Trust) announced that its Liquidation Trustee, with the approval of the Trusts Supervisory Board, has declared an aggregate cash distribution of $25,000,000 on the Trusts Class A Liquidation Trust Interests (the Class A Interests).
  • Regarding the distribution, the Trusts Liquidation Trustee Michael Goldberg said, I am pleased to be able to announce this additional interim distribution to our holders.
  • It was made only after considering the liquidity needs of the Trust and its subsidiaries to navigate through the uncertainties in the market.
  • Woodbridge Liquidation Trust is a Delaware statutory trust that, together with its wholly-owned subsidiary Woodbridge Wind-Down Entity LLC, was formed on February 15, 2019 to implement the terms of the First Amended Joint Chapter 11 Plan of Liquidation dated August 22, 2018 of Woodbridge Group of Companies, LLC and Its Affiliated Debtors (the Plan).

Liquidation of Legg Mason Emerging Markets Low Volatility High Dividend ETF (CBOE BZX (Ticker Symbol): LVHE)

Monday, March 30, 2020 - 9:30pm

Legg Mason, Inc. (NYSE: LM) announced today that the Board of Trustees of the Legg Mason Emerging Markets Low Volatility High Dividend ETF (the fund) has determined to liquidate the fund.

Key Points: 
  • Legg Mason, Inc. (NYSE: LM) announced today that the Board of Trustees of the Legg Mason Emerging Markets Low Volatility High Dividend ETF (the fund) has determined to liquidate the fund.
  • Proceeds of the liquidation are currently expected to be sent to shareholders of the fund on or about May 22, 2020 (the Liquidation Date).
  • We are pleased with the performance and investor reception to other ETFs we offer, said Rick Genoni, Legg Masons Head of ETF Product Management.
  • In connection with the liquidation, any shares of the fund outstanding on the Liquidation Date will be automatically redeemed on the Liquidation Date.

LYXOR ETF - Important Information - ETF Liquidation 27/03/2020 - Lyxor J.P. Morgan Multi-Factor World Index UCITS ETF

Tuesday, March 24, 2020 - 7:02pm

Please note that any fees or costs incurred within the context of the liquidation will be borne by the Sub-Fund.

Key Points: 
  • Please note that any fees or costs incurred within the context of the liquidation will be borne by the Sub-Fund.
  • Further to the above, the Board has decided to suspend the Subscription and the Redemption of Shares on the primary market within the Sub-Fund as from March 25, 2020.
  • Any liquidation proceeds which cannot be distributed to Shareholders will be deposited on their behalf with the Caisse de Consignation in Luxembourg.
  • For any questions, do not hesitate to contact Lyxor Client Services at the following contact details: Phone number +33 1 42 13 42 14 - Email address: client-services-etf@lyxor.com.

Huobi Launches New Futures Liquidation Mechanism to Hedge Against Market Volatility

Wednesday, March 18, 2020 - 2:00pm

SINGAPORE, March 18, 2020 /PRNewswire/ --Huobi DM, the leading digital assets derivatives trading platform from Huobi Group, recently announced the launch of a new liquidation mechanism to systematically minimize user exposure during times of severe market volatility.

Key Points: 
  • SINGAPORE, March 18, 2020 /PRNewswire/ --Huobi DM, the leading digital assets derivatives trading platform from Huobi Group, recently announced the launch of a new liquidation mechanism to systematically minimize user exposure during times of severe market volatility.
  • To help users hedge against liquidation risk,Huobi DM now provides partial liquidation, a new mechanism that gradually reduces a user's positions rather than liquidating them in full in a single event.
  • The liquidation process also includes a circuit breaker function that halts liquidation when large or unusual deviations between the liquidation price and market price are detected.
  • All coins and leverages on Huobi DM are supported by partial liquidation, and the mechanism is available to users with no fees.

Novelion Therapeutics Confirms Commencement of Voluntary Liquidation

Friday, January 17, 2020 - 1:05am

VANCOUVER, British Columbia, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Novelion Therapeutics Inc. (Novelion or the Company) today announced that the implementation of the Companys voluntary liquidation (the Liquidation) commenced at 5:00 p.m. Pacific Time today, January 16, 2020 (the Effective Date).

Key Points: 
  • VANCOUVER, British Columbia, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Novelion Therapeutics Inc. (Novelion or the Company) today announced that the implementation of the Companys voluntary liquidation (the Liquidation) commenced at 5:00 p.m. Pacific Time today, January 16, 2020 (the Effective Date).
  • was appointed liquidator (the Liquidator) and charged with overseeing all aspects of the Liquidation.
  • Shareholders and other interested parties should visit www.alvarezandmarsal.com/novelionfor continuing information about Novelion, the Liquidation and related matters.
  • Novelion cautions investors and others not to place undue reliance on any forward-looking statements, which speak only as of the date they are made.

Woodbridge Liquidation Trust Releases Letter to Holders Regarding Contrarian Tender Offer

Tuesday, January 14, 2020 - 2:11am

Woodbridge Liquidation Trust today announced that it had issued a letter to the holders of its Class A Liquidation Trust Interests regarding the pending cash tender offer by Contrarian Liquidity Option, LLC to purchase 2,015,305 of the outstanding Class A Liquidation Trust Interests.

Key Points: 
  • Woodbridge Liquidation Trust today announced that it had issued a letter to the holders of its Class A Liquidation Trust Interests regarding the pending cash tender offer by Contrarian Liquidity Option, LLC to purchase 2,015,305 of the outstanding Class A Liquidation Trust Interests.
  • Woodbridge Liquidation Trust is a Delaware statutory trust that, together with its wholly-owned subsidiary Woodbridge Wind-Down Entity LLC, was formed on February 15, 2019 to implement the terms of the Plan.
  • 350 East Las Olas Boulevard, Suite 1600
    Dear Holders of Liquidation Trust Interests:
    As the Liquidation Trustee of Woodbridge Liquidation Trust (the Trust), I would like to communicate with you further regarding the pending tender offer by Contrarian Liquidity Option, LLC (Contrarian).
  • The tender offer, which commenced on December 12, 2019, is presently to purchase 2,015,305 of the Trusts outstanding Class A Liquidation Trust Interests (the Interests).

NII Holdings Files For Dissolution

Monday, January 13, 2020 - 9:15pm

RESTON, Va., Jan. 13, 2020 /PRNewswire/ -- NII Holdings, Inc. ("NII") today announced that it filed a certificate of dissolution (the "Certificate of Dissolution") with the Secretary of State of the State of Delaware, as contemplated by the Plan of Complete Liquidation and Dissolution (the "Plan") previously approved by NII's Board of Directors and stockholders.

Key Points: 
  • RESTON, Va., Jan. 13, 2020 /PRNewswire/ -- NII Holdings, Inc. ("NII") today announced that it filed a certificate of dissolution (the "Certificate of Dissolution") with the Secretary of State of the State of Delaware, as contemplated by the Plan of Complete Liquidation and Dissolution (the "Plan") previously approved by NII's Board of Directors and stockholders.
  • The Certificate of Dissolution, which became effective at 4:00 p.m. Eastern Time on January 13, 2020 (the "Effective Time"), provides for the dissolution of NII under the General Corporation Law of the State of Delaware (the "DGCL").
  • NII intends to follow the Safe Harbor Procedures as permitted under the DGCL.
  • In connection with the filing of the Certificate of Dissolution, effective as of the Effective Time, NII closed its stock transfer books and discontinued recording transfers of its common stock, par value $0.001 (the "Common Stock").

Woodbridge Liquidation Trust Announces Cash Distribution

Saturday, January 4, 2020 - 12:22am

Woodbridge Liquidation Trust (the Trust) announced that its Liquidation Trustee, with the approval of the Trusts Supervisory Board, yesterday declared an additional interim aggregate cash distribution of $53,426,092 on the Trusts Class A Liquidation Trust Interests (the Class A Interests).

Key Points: 
  • Woodbridge Liquidation Trust (the Trust) announced that its Liquidation Trustee, with the approval of the Trusts Supervisory Board, yesterday declared an additional interim aggregate cash distribution of $53,426,092 on the Trusts Class A Liquidation Trust Interests (the Class A Interests).
  • The Trust has been made aware of a tender offer by an affiliate of Contrarian Funds, L.L.C.
  • (Contrarian) to purchase up to 2,858,405 of the outstanding Class A Interests for $10.00 per Class A Interest, without interest (the Tender Offer).
  • AS A RESULT, TENDERING HOLDERS MAY RECEIVE FROM CONTRARIAN AN OFFER PRICE OF ONLY $5.50 PER CLASS A INTEREST.

Novelion Therapeutics Provides Updates on Voluntary Liquidation and Other Matters

Friday, January 3, 2020 - 1:25pm

VANCOUVER, British Columbia, Jan. 03, 2020 (GLOBE NEWSWIRE) -- Novelion Therapeutics Inc. (Ticker: NVLNF) (Novelion or the Company) today provided updates on the status of the Companys voluntary liquidation and other matters.

Key Points: 
  • VANCOUVER, British Columbia, Jan. 03, 2020 (GLOBE NEWSWIRE) -- Novelion Therapeutics Inc. (Ticker: NVLNF) (Novelion or the Company) today provided updates on the status of the Companys voluntary liquidation and other matters.
  • Beginning on the Effective Date, the Liquidator will oversee all aspects of the liquidation and dissolution of the Company.
  • Following the Effective Date, the Liquidator will begin posting information about the Liquidation at www.alvarezandmarsal.com/novelion and interested parties should thereafter consult this website for information about Novelion and the Liquidation.
  • Unused proceeds from this sale, if any, would be part of any distribution made to shareholders as part of the Liquidation.