Subject to certain exceptions related to transfer by will, intestate succession or operation of law, the Units will not be transferable, nor will a beneficiary have authority or power to sell or in any other manner dispose of any Units.
A copy of the Liquidating Trust Agreement was previously filed with the Commission as an Exhibit to the Company’s Current Report on Form 8-K filed July 28, 2016, a copy of which is available on the Commission’s website, gov as well as the Company’s website the investor relations tab.
The distribution is expected to be paid this week and will be funded from proceeds from asset sales.
In January 2017, REIT stockholders approved the liquidation and dissolution of the company, and the company sold the final property in its portfolio last month, as reported by The DI Wire.
This reserve could be held in the trust for any contingent liabilities as they become due.