Fifth Distribution of Liquidating Trust Assets to Certain Liquidating Trust Beneficiaries
Pursuant to and in accordance with the Joint Plan of Advanta Corp., et al., under Chapter 11 of the Bankruptcy Code (as supplemented, modified, or amended, the "Plan"), the Trustee1 of the AC Liquidating Trust and Advanta Liquidating Trust (collectively, the “Trusts”) has made a Fifth Distribution of certain Liquidating Trust Assets to Liquidating Trust Beneficiaries (the “Fifth Distribution”).
The Fifth Distribution represents the following recoveries:
- Subordinated Note Claims (“SubNote Claims”) against the Trusts received 28.5 cents on the dollar
- General Unsecured Claims (“GUCs”) against the Trusts recovered 11.6 cents on the dollar
- No further distributions are made to Investment Notes Claims and RediReserve Certificate Claims (collectively, “Retail Note Claims”) as these holders have received full distributions.
The initial Distribution, second Distribution, third Distribution, fourth Distribution, and fifth Distribution altogether represent the following cumulative recoveries:
- SubNote Claims against the Trusts received 28.5 cents on the dollar; and
- General Unsecured Claims against the Trusts received 70.9 cents on the dollar
The Fifth Distribution is being made in accordance with the terms of the Plan and reflects total cash available for distribution after accounting for appropriate and necessary reserves. Such reserves account for, among other things, outstanding issues and prospective Trust expenses to wind down the remaining estates. While the Trustee does not anticipate material additional distributions, the Trustee may make additional distributions to certain Liquidating Trust Beneficiaries in accordance with the terms of the Plan to the extent funds remain after, among other things, the resolution of such outstanding issues and the completion of the wind-down of the remaining estates.
Please follow the link below to view the Fifth Distribution Analysis.
The Trustee and its professionals are continuing to work in close consultation with the Trust Advisory Board on all remaining matters that require resolution to wind down the remaining estates. The Trustee will announce further updates, if any, on the website http://advantareorg.com as it deems necessary.
If you have any questions or would like additional information, please email us at [email protected], or call the creditor hotline at 1-646-576-8146. Please refrain from calling Wilmington Trust as they do not have further information on these cases.
1Unless otherwise defined herein, capitalized terms shall bear the meaning ascribed to them in the Plan.
SBOBET has become a new official betting partner for Indonesia in Asia
In an agreement defined as "historic". Borussia Dortmund (BVB) launches new sponsor. In its eagerness to continue growing in Asia, the Bundesliga club signs SBOBET. It will be their new official bookmaker on the continent from the 2018/19 season.
As part of the agreement, Agen SBOBET will benefit from the brand's presence in various BVB assets. In return, it will help Dortmund improve its reach in a key market. Together they will carry out social actions in the region. At the same time, it will offer promotions and activities for its fans, bringing them closer to the club they love.
Suresh Letchmanan, head of the BVB Asia office, sees it as a key deal. “This partnership is a great step for Borussia Dortmund to get even closer to our Asian fans. Our fans in Asia have always been looking for exciting new opportunities to interact with the club. And we believe that SBOBET is the ideal partner to spread the BVB soccer brand in the region ”, he points out.
Favorites to win LaLiga and descend according to the bookies
"SBOBET's reputation and strong presence in the Asian market also bode well for our efforts to grow in Asia," he adds.
While the CEO of Celton Manx (company responsible for SBOBET), Bill Mummery, details that “the Bundesliga continues to grow in Asia. And we are delighted to have one of your best teams, Borussia Dortmund, as our partner. They have an incredible fan base, not only in Europe, but around the world. "
Dortmund has its official sportsbook at Bwin. A sponsorship that is complemented by regional associations like this。