Woodbridge Ponzi Victims Seek $215M Loan Fund

Law360 (July 12, 2018, 9:23 PM EDT) -- Investors in the alleged Woodbridge Ponzi scheme asked the Delaware bankruptcy court Thursday to allow them to set up a $215 million loan facility to keep some of the noteholders afloat until the company’s bankruptcy is resolved.

The joint motion by the unsecured creditors committee and the ad hoc noteholder group would let them set up a fund from which noteholders could borrow up to 30 percent of their allowed net bankruptcy claim against the Woodbridge Group of Companies.

“The noteholder liquidity facility is targeting to those noteholders who may have invested a significant portion of their life savings with Woodbridge...

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