Bridgeport holdings liquidating trust
A trusted source also expressed the following thoughts to us on the case: All 185 Woodside Homes related debtors against whom involuntary bankruptcy petitions were filed, including the parent company Woodside Group, LLC and the financing arm Pleasant Hill Investments, admitted by way of stipulation today that they are insolvent.
They will begin operating as if they are Chapter 11 debtors in possession immediately.
According to the original federal charges, Madoff said that his firm had "liabilities of approximately US billion". Madoff's business, in the process of liquidation, was one of the top market makers on Wall Street and in 2008, the sixth-largest.
See more excerpts and analysis from the bankruptcy filings at the forum.The Madoff investment scandal was a major case of stock and securities fraud discovered in late 2008.In December of that year, Bernard Madoff, the former NASDAQ Chairman and founder of the Wall Street firm Bernard L.The interesting question is whether the 2 Million 2 Million in unsecured debt held by the lenders who prosecuted the Chapter 11 case is the only debt of the 185 entities, or whether they have A&D loan and construction loan debt as well.I cannot see how the 185 debtors can ask the Bankruptcy Court to approve debtor-in-possession financing until after September 16, 2008, so it will be interesting to see if this 2 week delay will work from a practical point of view.