- Consolidated Condensed Financial Statements unaudited.
- The case is in its preliminary stages.
- The Partnership is unable to determine what portion of its fees and damages in the Rothal case, if any, may be recovered under the Scottsdale policies.
Berkowitz and Fairholme Funds, online Inc. 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. Capitalized terms used but not defined in this quarterly report have the same meanings as in the Annual Report.
- Evaluation of Disclosure Controls and Procedures.
- The Arvida defendants believe that they have meritorious defenses and intend to vigorously.
- Indicate by check mark whether the Registrant is a well-known seasoned issuer, as defined in Rule of the Securities Act.
- The Resident Trustee shall provide prompt notice to the Administrator of its performance of any such acts.
- Consolidated Condensed Balance Sheets.
The accompanying notes are an integral part of these consolidated financial statements. All material intercompany balances and transactions have been eliminated in consolidation. The Partnership has completed construction and closed on the sale of all remaining housing units to be built by the Partnership.
The Resident Trustee shall not be entitled to exercise any powers, nor shall the Resident Trustee have any of the duties or liabilities, of the Administrator. We believe that our audits provide a reasonable basis for our opinion. Notes to Financial Statements. Plaintiff has filed a motion to add punitive damages that was denied without prejudice.
Arvida Company As Administrator. Waterproofing filed an answer to the amended complaint and Arvida has replied. Cash distributions to the Unit Holders reflect distributions paid during the calendar year, a portion of which represents a return of capital for Federal income tax purposes. Consolidated Condensed Statements of Operations.
Gary Nickele, President and Sole Director. The case does not currently have a trial date. The settlement agreement provides, among other things, distance long for a release by Association Nos. Smaller reporting company.
ALP LIQUIDATING TRUST
Arvida entered into a sub-management agreement with St. The business of the Partnership has been cyclical in nature and certain aspects of the development of Community projects were to some degree seasonal. 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.
ALP LIQUIDATING TRUST - Annual Report (K) PART I
Cash and cash equivalents, end of period. The Partnership has filed a motion to dismiss the case for lack of jurisdiction and a motion to stay. The Partnership currently owns no patents, trademarks, licenses or franchises other than those trademarks and tradenames in respect of the names of certain of its Communities.
The trustee or trustees of the Liquidating Trust could be an officer or officers of the General Partner. The remaining Partnership assets would be contributed to the Liquidating Trust subject to all outstanding obligations and liabilities of the Partnership. The General Partner, Associate Limited Partners and Holders of Interests would receive beneficial interests in the Liquidating Trust in proportion to their respective interests in the Partnership.
Reflects indirect beneficial ownership of beneficial interest units held directly by The St. The complaint was filed, but not served. The Trust is not required to have, nor were we engaged to perform an audit of its internal control over financial reporting. Fire and Home regarding coverage under the relevant insurance policies and believes that it is covered under the terms of those policies. 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.
Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Fire as well as additional counsel engaged by the Partnership. Vice President and Chief Financial Officer. Cash and Cash Equivalents.
ALP LIQUIDATING TRUST - Current report filing (8-K) EXHIBIT
The Partnership will vigorously pursue its interests in the policies written by the plaintiff. The case has been transferred to the complex litigation division of the court. Principles of Consolidation. Such seasonality did not have a material impact on its business. All such Beneficiaries shall be bound by the terms and provisions of this Trust Agreement.
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. All of the Trust's expenses shall be billed directly to and paid by the Trust. The Administrator and the trustees are entitled to receive a share of cash distributions, when and as cash distributions are made.
Subsequently, the court overseeing the rehabilitation issued an order to liquidate Home. Accounts payable and accrued expenses. The defendants include Waterproofing Systems of Miami, hook up Inc. The Partnership filed a motion to dismiss Arvida from this case and it was granted.
Directors and Executive Officers of the Registrant. In the complaint, as amended, an insurer for Waterproofing Systems, Inc. Defendants believe they have meritorious defenses and intend to vigorously defend themselves. Cash distributions per beneficial interest unit.
Given the pending liquidation, the Partnership believes that it is doubtful that any substantial recoveries from Home will be obtained. These associations have not filed suit. Trinity filed an answer to the amended complaint and a counterclaim. The Partnership will vigorously defend its interests in the policies written by the plaintiff. No trial date has been set.
The following lawsuit in large part allegedly arose out of landscaping issues at a certain subdivision in the Weston Community. In the three count amended complaint, indian girls plaintiffs allege breach of building codes and breach of implied warranties. Documents Incorporated by Reference. The motion to expand the class was denied. Waterproofing filed a motion to dismiss that was granted with leave to amend.
ALP LIQUIDATING TRUST - FORM 10-Q - November 12 2015
As a result of the direct and beneficial ownerships of outstanding shares of common stock of The St. The Partnership has a license agreement with St. The source of both short-term and long-term future liquidity is expected to be derived from cash on hand, short term cash investments and income earned thereon.
ALP LIQUIDATING TRUST - FORM K - March 21
The Partnership has received from Zurich certain purported reservation of rights letters in connection with certain of the landscaping cases. Government obligations with maturities greater than three months is classified as short-term investments. 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. Government obligations with original maturities of three months or less, money market demand accounts and repurchase agreements, the cost of which approximates market value. In the complaint, the Partnership seeks, among other things, a declaration that U.
Such payments on behalf of Unit Holders of Interest are deemed distributions to them. Such accruals are based upon developments to date, management's estimates of the outcome of these matters and its experience in contesting, litigating and settling other matters. This report, including this Management's Discussion and Analysis of Financial Condition and Results of Operations, contains forward-looking statements.