Unfortunately, the low liquidate minus High liquidate portfolio (formed based on the past 1-week return) yielded significant returns for only the holding period of 1 week.
Maug and Kahn and High liquidate suggest that greater liquidity can be an opportunity for large shareholders to increase their profit by monitoring the firm's management.
The General Meeting may fix another date (other than the date of the decision) as of which the decision to liquidate
the company shall become effective.
It is not material that a liquidating corporation does not have a formal resolution to liquidate
or has not adopted a plan to dissolve (Kennemer, 96 F2d 177 (5th Cir.
On July 31, 2003, the fund was unable to liquidate
sufficient assets to make its scheduled senior debt payment, which by its terms terminated the agreement.
Presumably the 30-day rule cited in the ruling applies, or else the Service would probably allow the amount of time necessary to liquidate
as quickly as practicable under state law.
As a result of the decision to liquidate
the United Kingdom portfolio (and the resulting classification of the United Kingdom advances as impaired), the Company is required to write down the carrying value of the advances to the present value (the Company has utilized a discount rate of 13%) of future cash flows less estimated future servicing expenses and payments due dealer-partners under servicing agreements.
The Fund will liquidate
its investments, pay or make provision for payment of liabilities and obligations, and distribute the remaining assets of the Fund to shareholders in complete cancellation and redemption of all outstanding shares of the common stock (par value $0.
Upon consummation of the transactions contemplated by the agreement or otherwise upon sale of the senior and assisted living facilities to a third party, ILM II intends to liquidate
and distribute its assets in accordance with the Virginia Stock Corporation Act, which provides for the distribution of ILM II's assets first to ILM II's creditors for purposes of discharging all of ILM II's liabilities, and then, to the extent assets are remaining, to ILM II's shareholders in accordance with their respective rights and interests.
NasdaqNM: OPTI) today announced that its Board of Directors has unanimously voted to voluntarily liquidate
and dissolve the Company.
If the corporation liquidates
and the shareholders sell the assets, the passthrough Sec.
Golf Trust currently expects that its first liquidating distribution to common stockholders will be paid shortly after Golf Trust liquidates
its final asset, which will likely be at least 12 months and possibly 24 months or more from today.