Woodbridge Liquidation Trust agrees to sell last LA home; managers cut pay to $10k/mo

Woodbridge Liquidation Trust

Entered agreement to sell last single-family home in Los Angeles to a private entity; closing subject to due diligence contingencies.
Board managers voluntarily reduced monthly compensation from $15,000 to $10,000 per manager effective April 1, 2023.
The property is the last single-family home remaining in the company's asset portfolio.
No material relationship with purchaser other than the transaction.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Woodbridge Liquidation Trust entered into Second Amendment to Limited Liability Company Agreement of the Wind-Down Entity with Woodbridge Wind-Down Entity LLC valued at monthly compensation reduced from $15,000 to $10,000 per manager per month effective April 1, 2023 (effective 2023-03-27).

Action: entry
Counterparty: Woodbridge Wind-Down Entity LLC
Value: monthly compensation reduced from $15,000 to $10,000 per manager per month effective April 1, 2023
Effective: 2023-03-27

Exact text from the filing

On March 27, 2023, the registrant, as sole member of its subsidiary Woodbridge Wind-Down Entity LLC (the “ Wind-Down Entity ”), entered into a Second Amendment to Limited Liability Company Agreement of the Wind-Down Entity (the “ LLC Agreement Amendment ”).

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Woodbridge Liquidation Trust filing history →

Source: SEC EDGAR

accession 0001140361-23-014534

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