This Trust Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflict of laws thereof. In no event shall the Administrator or the Trust distribute to the dissolved Partnership any Trust Property. Prepaid expenses and other assets.
ALP LIQUIDATING TRUST - FORM Q - November 12
ALP LIQUIDATING TRUST - Current report filing (8-K) EXHIBIT
Arvida Company as Administrator. The Partnership has filed a motion to dismiss the case for lack of jurisdiction and a motion to stay. Arvida has filed a motion to dismiss the Trinity counterclaim. Reflects beneficial ownership of beneficial interest units held directly by The St. Amounts receivable from or payable to the Administrator or their respective affiliates do not bear interest and are expected to be paid in future periods.
- Arvida entered into a sub-management agreement with St.
- The Administrator and the trustees are entitled to receive a share of cash distributions, when and as cash distributions are made.
- The Arvida defendants believe that they have meritorious defenses and intend to vigorously defend themselves.
There are no arrangements or understandings between or among any of said director or officer and any other person pursuant to which the director or any officer was selected as such. Representatives of the Partnership have discussed with representatives of Association No. During the Partnership closed on the sale of townhomes in the Partnership's Weston Community, which were the last remaining housing units to be built by the Partnership. The Partnership is unable to determine the ultimate portion of the expenses, fees and damages allegedly relating to the landscape cases, if any, which will be covered by its insurance. The declaration in this case seeks to affect the rights that Waterproofing, Rothal, and the Partnership may have in these policies.
ALP LIQUIDATING TRUST - Annual Report (K) PART I
Each Beneficiary shall take and hold the same subject to all the terms and provisions of this Agreement. The Partnership will vigorously defend its interests in the policies written by the plaintiff. These associations have not filed suit. The Partnership will vigorously pursue its interests in the policies written by the plaintiff.
ALP LIQUIDATING TRUST - FORM 10-Q - November 12 2015
Each of them filed a responsive pleading to the Lexington counterclaim. The Partnership has filed a motion to dismiss the case against Arvida for lack of jurisdiction and a motion to stay. Accordingly, we express no such opinion. There are pending motions to stay and for summary judgment which have not been set for hearing. Wholly owned subsidiaries of The St.
The trustee or trustees of the Liquidating Trust could be an officer or officers of the General Partner. As noted above, under the terms of the Amendment, the General Partner was authorized, in its sole discretion, to complete the liquidation of the Partnership by forming a Liquidating Trust. The remaining Partnership assets would be contributed to the Liquidating Trust subject to all outstanding obligations and liabilities of the Partnership. The Administrator shall act as the liquidator of the Trust and shall be responsible for taking all required actions in connection with winding up the Trust. The address for each of the Testamentary Trust, Foundation and Messrs.
ALP LIQUIDATING TRUST - FORM K - March 21
The Partnership is currently being defended by counsel paid for by U. In developing the infrastructure and amenities of its Communities and building its own housing products, the Partnership generally has functioned as a general contractor. In the complaint, the Partnership seeks, among other things, a declaration that U. Directors and Executive Officers of the Registrant.
The Partnership is seeking payment or reimbursement of all or most of the foregoing settlement amounts from U. Zurich is providing a defense of this matter under a reservation of rights. Plaintiff filed a motion to add punitive damages that was denied without prejudice. The Administrator shall maintain any instrument that relates to any change in the office of Resident Trustee in the same place where the original Trust Agreement is maintained.
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An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Net cash used in operating activities. The Partnership has applied the accounting rules concerning loss contingencies in regard to the treatment of this matter for financial reporting purposes.
- The Arvida defendants believe that they have meritorious defenses and intend to vigorously.
- Cash and cash equivalents may consist of U.
- Our responsibility is to express an opinion on these financial statements based on our audits.
- These remnant parcels have no value and, to the extent hereafter deeded to third parties, will result in no material proceeds to the Trust.
- Consolidated Condensed Statements of Operations.
The defendants include Waterproofing Systems of Miami, Inc. Changes in Internal Control over Financial Reporting. Hull, Chief Financial Officer.
Fire and Home regarding coverage under the relevant insurance policies and believes that it is covered under the terms of those policies. The City of Weston has agreed to pay development costs and assume perpetual maintenance of the mitigation area. Consolidated Statements of Cash Flows. All intercompany balances and transactions have been eliminated in consolidation.
As a result of this and subsequent mediation sessions and other discussions among the parties, and without admitting any liability, the Partnership has entered into an agreement with Association Nos. These performance bonds are fully collateralized. Commitments and contingencies. The following lawsuit in large part allegedly arose out of landscaping issues at a certain subdivision in the Weston Community. The Partnership was named as a co-permittee along with the Indian Trace Development District the predecessor to the City of Weston on the permits.
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The Partnership filed a motion to dismiss Arvida from this case and it was granted. Document Incorporated by Reference. The liability also includes real estate taxes, dating my and other miscellaneous accruals. The defense of the case is proceeding.
The transferee consequently will not be entitled to receive any cash distributions or any allocable share of profits or losses for tax purposes until such next succeeding calendar quarter. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Partnership is not able to determine what, if any, loss exposure that it may have for this matter. The case has been transferred from the complex litigation unit to the trial court handling the Rothal action.
Director and Executive Officers of the Registrant. Therefore, even those systems determined to be effective can only provide reasonable assurances with respect to financial statement preparation and presentation. Smaller reporting Company. The business of the Partnership has been cyclical in nature and certain aspects of the development of Community projects were to some degree seasonal.
We believe that our audits provide a reasonable basis for our opinion. Richard Rothal et al, Case No. Such accruals are based upon developments to date, management's estimates of the outcome of these matters and its experience in contesting, free litigating and settling other matters. Zurich is providing a defense of each of the landscape cases.
The source of both short-term and long-term future liquidity is expected to be derived from cash on hand and income earned thereon. Cash and cash equivalents, end of year. Indicate by check mark whether the Registrant is a well-known seasoned issuer, as defined in Rule of the Securities Act. Cash and cash equivalents, beginning of year. The Partnership filed a motion to dismiss the case for lack of jurisdiction and a motion to stay.
The complaint was filed, but not served. Accounts payable and accrued expenses include legal fees, real estate taxes and other miscellaneous accruals. Reflects indirect beneficial ownership of beneficial interest units held directly by The St. Principal Financial Officer.
Beneficial Interest Units. The Partnership has received from Zurich certain purported reservation of rights letters in connection with certain of the landscaping cases. In Count I, obese Plaintiff sued for breach of warranty.