Dated as of December 31, Wilmington Trust Company ,. NOW, THEREFORE, for good and valuable consideration, Investment Trust C hereby agrees to grant, release, assign, convey and deliver unto the Liquidating Trustee for the benefit of the Beneficiaries as hereinafter defined , all of the right, title and interest of Investment Trust C in and to the Retained Assets for the uses and purposes stated herein on the Effective Date, subject to the terms and provisions set out below, and the Liquidating Trustee hereby agrees to accept such Retained Assets and such Liquidating Trust, subject to the following terms and provisions: For all purposes of this instrument, unless the context otherwise requires: The Liquidating Trust hereby is organized for the sole purpose of winding up the affairs of Investment Trust C as promptly as reasonably possible and with no objective to continue or engage in the conduct of a trade or business.
Definition of Liquidation Trustee
Liquidation Trustee | legal definition of Liquidation Trustee by kekkon7.com
Exhibit Quarterly Filings with Bankruptcy Court and U. The purpose of the liquidation trust is to appoint a trustee to liquidate the Assets of the Debtor and make the distributions provided for under the Plan. This Agreement establishes the Liquidation Trust, allows the Liquidation Trust to establish any Liquidation Trust Entity to further the purposes of this Agreement, appoints the Liquidation Trustee for the Liquidation Trust, gives the Liquidation Trust certain rights and powers with respect to any such Liquidation Trust Entity, and provides the framework within which the Liquidation Trustee shall carry out its duties and implement key provisions of the Plan.
What Is a Liquidating Trust?
When "Liquidating Trust" is mentioned, most people associate this with bankruptcy. In a bankruptcy, a liquidating trust may be formed whereby certain assets are placed in a trust for the benefit of creditors who may have certain claims against those assets. A liquidating trust may also be an effective method for a fund manager to wind down a fund without having a significant role in the liquidation.
Liquidation Trustee means the trustee, and any successor trustee, of the Liquidating Trust. Sample 1. Liquidation Trustee means the trustee of the Liquidation Trust as contemplated by the Trust Agreement. Liquidation Trustee means the Person and any successor thereto, which shall be appointed as the trustee of the Liquidation Trust or any successor trust in accordance with the Confirmation Order and Plan.