Sheon Karol, a Managing Director of The DAK Group, has been selected by the UCC, in consultation with the Debtor (Lily Robotics, Inc.), as Trustee of the Drone LC Creditors’ Liquidating Trust.The Bankruptcy Court yesterday granted the motion of Lily Robotics, Inc.As of July 2016, approximately 220 grants were distributed to support Veterans and their families.The Chrysler Liquidating Trust partnership grew out of discussions between Secretary Mc Donald and Bob Manzo, Trustee for the Trust on the importance of forging strategic partnerships and the ongoing work to end Veteran homelessness.Shareholders approved the Company’s withdrawal of its election to be regulated as a business development company under the Investment Company Act of 1940.The meeting was adjourned to June 23, 2017 to permit the Company to voluntarily delist from NASDAQ and to begin the process of withdrawing its election to be regulated by the U. Securities and Exchange Commission (“SEC”) as a business development company.HERO Liquidating Trust On December 2, 2016, the Debtors’ Modified Joint Prepackaged Chapter 11 Plan (Incorporating Mediation Settlement) of Hercules Offshore, Inc. Under the Plan, holders of the common stock as of December 2, 2016 will receive, subject to certain conditions, their pro-rata share of the Rejection Shareholder Cash Distribution and Wind-Down Entity Interests in the HERO Liquidating Trust.
Since the adoption of the plan of liquidation, we have distributed .50 in cash per common share.
Earlier this year, the Chrysler Liquidating Trust committed 0,000 to support VA’s efforts to prevent homelessness in Detroit, Philadelphia and Los Angeles.
Leveraging VA’s existing partnership with the Pentagon Federal Credit Union Foundation, more than 3,000 of these funds have been awarded to cover rent and utility deposits for Veterans.
The DAK Group, is also serving as the financial advisor to the UCC in the Chapter 11 bankruptcy case.
CROSSROADS CAPITAL ANNOUNCES RESULTS OF SPECIAL MEETING & CONVERSION TO LIQUIDATING TRUSTJune 23, 2017 – LINCOLN, NE – Crossroads Capital, Inc.
We intend to distribute as much of our cash as possible before commencement of the liquidating trust, subject to maintaining appropriate reserves.