Initial Distribution of Certain Liquidating Trust Assets to Liquidating Trust Beneficiaries holding Allowed Claims
Undeliverable and Unclaimed Distributions
In making distributions to holders of Beneficial Interests in the AC Liquidating Trust, certain distributions have been returned to the Trustee as undeliverable or have gone unclaimed. The Trustee, in its capacity as the Disbursing Agent, has used commercially reasonable efforts to determine the mailing address for all holders of Trust Beneficial Interests including, without limitation, the below listed holders of Beneficial Interests in the AC Liquidating Trust. Despite these efforts, the Trustee has been unable to confirm address information for the below listed holders, and checks sent pursuant to the Initial Distribution have gone unclaimed and/or have been returned to the Trustee. If you are one of the holders listed below, please contact the Trustee by calling 1-866-697-5647 or by emailing LTRequest@acliquidatingtrust.com. If any listed holder fails to contact the Trustee by December 31, 2012, the Trustee reserves its right to vest such holder’s unclaimed Distributions in the AC Liquidating Trust. Further, the Trustee reserves the right to treat the entitlement to future Distributions, to the extent such entitlement exists, of a holder failing to respond by December 31, 2012 as extinguished and forever barred, with no further obligation of the Trustee to make any future Distribution.
ALONZO F MORRIS
ANN R WOJCIK
ANNA A ANASTASIOU
CAPT. ROBERT RYDER
CHERYL A HALASZYNSKI
EMM IMPORT/EXPORT INC.
ENA R BROWN
FR EDWARD F BARRETT
JASON M ZEIM
LOCAL 181 UAW
MICHAEL J BRESLIN
MILDRED B JOHNSON
PATRICE RENEE ANTONUCCI
ROBERT F DORN
ROBERT H HANSTEEN
ROBERT J PANDOLA
ROBERT S PERKEL
SARGENT TTEE, CHLOE M
THOMAS C COSKEY
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 Trust, ASSC Trust and Advanta Auto Finance Trust has made the Initial Distribution of certain Liquidating Trust Assets to Liquidating Trust Beneficiaries holding Allowed Claims.
The Initial Distribution represents the following recoveries:
- Retail Note claims against the AC Trust recovered 37.6 cents on the dollar;
- General unsecured claims against the AC Trust recovered 22.3 cents on the dollar;
- General unsecured claims against ASSC Trust recovered 83.7 cents on the dollar; and
- General unsecured claim against Advanta Auto Finance Trust recovered 100 cents on the dollar.
The Initial Distribution was 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, Unresolved Claims and prospective Trust expenses. The Trustee expects to make additional distributions to Liquidating Trust Beneficiaries holding Allowed Claims in accordance with the terms of the Plan after, among other things, resolution of the remaining Unresolved Claims and as Liquidating Trust Assets are monetized.
Please follow the link below to view the Initial Distribution Analysis.
If you have any questions or would like additional information, please email us at LTRequest@acliquidatingtrust.com, 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.