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The manager anticipates selling and resolving all of these loans and reducing them to cash in a finite and relatively short period of time.

New Century Mortgage Corporation and Why It’s Nice to Actually Own the Debt Before You Foreclose In a February decision, absurdly hailed as “groundbreaking,” the California Supreme Court sought to clean up one aspect of the litigation morass created in the wake of the mortgage-backed securities crisis.

Liquidation Trust, By and Through Its Liquidation Trustee On December 15 through 22, 2016, META Advisors LLC, as the Liquidation Trustee (the “Liquidation Trustee”) of the Seal123, Inc.

Liquidation Trust was established pursuant to the Plan and Confirmation Order for the benefit of unsecured creditors under the above-referenced plan.

On March 10, 2009 (the "Petition Date"), Fleetwood Enterprises, Inc.

That transaction architecture is being revived, and it’s about time.

The simple fact, however, is that the Court’s decision endangers only a special (and soon-to-be dwindling) class of lenders: Those too lazy, cheap, or sloppy to properly document a simple contractual assignment.

In 2006, New Century loaned 3,000 to plaintiff Yvanova, secured by a deed of trust on Yvanova’s Woodland Hills’ home.

As the holders of non- and underperforming debt have increasingly fessed up to their marks, we’re now at a point where these transactions can be done without creating massive capital charge problems for the banks and other financial institutions holding this paper.

These structures are designed to allow an active, dynamic manager to liquidate a portfolio of loans, hence: liquidating trusts.

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