Woodbridge Group of Companies, LLC, et al.

Ad Hoc Noteholder Group Website

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Welcome Woodbridge Noteholders

Recent Updates: 

2/1/2019: The Noteholder Group wishes to advise all Noteholders that as the Debtors approach declaring the Effective Date under the chapter 11 plan confirmed on October 26, 2018, the occurrence of the Effective Date will officially end the existence of the Noteholder Group. This is a customary legal effect of the effective date of a chapter 11 plan – in fact, all three committees in the cases will cease to exist on the Effective Date (the Official Creditors Committee, the Noteholder Group and the Unitholder Group). As such, Noteholders should be aware that the legal and financial advisors to the Noteholder Group (including Drinker Biddle, who is responsible for substantially all content on this site) will no longer be in a position to respond to any Noteholder inquiries or to maintain this website.  We expect that the Trustee for the Woodbridge Liquidating will establish a website for all investor victims to obtain information. The Noteholder Group website will in all likelihood be closed following the Effective Date.

12/4/2018: The Debtors filed a notice stating that the consummation of their Chapter 11 Plan and initial distribution to creditors, originally targeted for December 2018, will be delayed until the first quarter of 2019, citing delays in closings of certain sales of real properties that were previously approved by the Bankruptcy Court.

11/5/2018: Press reports regarding the recent settlement between the Securities and Exchange Commission (SEC) and Robert Shapiro have created a great deal of confusion.  While the underlying settlement provides for the Court to order Robert Shapiro to pay in excess of $100MM for disgorgement, prejudgment interest, and a civil penalty, the Debtors, the Official Committee of Unsecured Creditors, the Noteholder Committee, and the Unitholder Committee have no reason to believe that Mr. Shapiro has the ability or intention to make the Court-ordered payments.  To the knowledge of the Debtors and the committees, no amounts have been escrowed by Mr. Shapiro for payment of the settlement and no specific property has been identified for satisfaction of the settlement.

The Debtors and the committees are not a party to the settlement between the SEC and Mr. Shapiro and the Debtors have fully reserved all rights against Mr. Shapiro under their Plan.

10/26/2018: The Bankruptcy Court issued an opinion and order confirming the Debtors’ Chapter 11 Plan, which was voted upon by approximately 85% of all Noteholders, and approved by more than 95% of them.  In connection with confirmation of the Plan, the Court made findings that Woodbridge had operated a Ponzi scheme beginning no later than July 2012, and that the scheme was discovered no later than December 2017.

10/24/2018: The Bankruptcy Court held a hearing to consider confirmation of the Debtors’ Chapter 11 Plan and approval of a related settlement motion, at which it considered evidence, among other things, of the Ponzi scheme operated by Woodbridge prior to its bankruptcy filing.  Audio of the hearing is available here.

The Ad Hoc Noteholder Group is the court-appointed fiduciary body representing the interests of noteholders in the jointly-administered chapter 11 bankruptcy cases of Woodbridge Group of Companies LLC and certain affiliates.

The Noteholder Group is represented by attorneys with the law firm of Drinker Biddle & Reath LLP (Steven K. Kortanek, James H. Millar, and Patrick A. Jackson as the principal attorneys), and is also represented by financial advisors with the firms of Conway MacKenzie, Inc. (Matt Sedigh and Jeff Perea as principal advisors) and Dundon Advisers LLC (Matthew Dundon and Jonathan Feldman as the principal advisors).

The purpose of this website is to assist noteholders in understanding the bankruptcy process and their rights under the United States Bankruptcy Code, as well as to solicit and review comments from noteholders. If you would like to receive email updates from the Noteholder Group please visit the Submit an Inquiry page of this website.

This website is designed so that noteholders may search information by category. Please note that this website has been substantially updated since launch, so please review the information on the site even if you have been here before. Specifically:

•        Click these links for copies of the court-approved summary of the Chapter 11 Plan and detailed Disclosure Statement concerning the Plan, and the related “Questions and Answers” document that was jointly prepared by the Noteholder Group and the other creditor groups.

•        For a note regarding the recent settlement between the Securities and Exchange Commission and Robert Shapiro, click here.

Please note that this website was established and is maintained by Drinker Biddle on behalf of the Noteholder Group. This website is maintained for informational purposes only and does not contain official court records.

Statements on this website regarding legal issues or court proceedings are for informational purposes only and should not be construed as legal advice. Neither the Noteholder Group nor its professionals can provide you with individual legal advice.

Main Debtor 17-12560 Woodbridge Group of Companies, LLC, et al.
Total Number of Debtors 306
Court District of Delaware
Judge Hon. Kevin J. Carey
Chapter 11
Petition Filing Date December 4, 2017
Meeting of Creditors January 18, 2018
Attorneys to the Ad Hoc Noteholder Group Drinker Biddle & Reath LLP
222 Delaware Ave., Ste. 1410
Wilmington, DE 19801-1621
Phone: (302) 467-4200
(Website)     (Contacts)
  Drinker Biddle & Reath LLP
1177 Avenue of the Americas, 41st Floor
New York, NY 10036-2714
Phone: (212) 248-3140
(Website)     (Contacts)
  Drinker Biddle & Reath LLP
191 N. Wacker Dr., Ste. 3700
Chicago, IL 60606-1698
Phone: (312) 569-1000
(Website)     (Contacts)
Financial Advisors to the Ad Hoc Noteholder Group Conway MacKenzie, Inc.
333 South Hope Street, #3625
333 South Hope Street, #3625
Phone: (213) 416-6200
  Dundon Advisers, LLC
PO Box 259H
Scarsdale, NY 10583
Phone: (917) 838-1930
Attorneys for Debtors Klee, Tuchin, Bogdanoff & Stern LLP
1999 Avenue of the Stars
Thirty-Ninth Floor
Los Angeles, CA 90067-6049
Phone: (310) 407-4000
(Website)     (Contacts)
  Young Conaway Stargatt & Taylor, LLP
Rodney Square
1000 North King Street
Wilmington, DE 19801
Phone: (302) 571-6600
(Website)     (Contacts)
Attorneys for the Official Committee of Unsecured Creditors Pachulski Stang Ziehl & Jones LLP
10100 Santa Monica Blvd., 13th Floor
Los Angeles, CA 90067-4003
Phone: (310) 277-6910
(Website)     (Contacts)
  Pachulski Stang Ziehl & Jones LLP
919 North Market Street, 17th Floor
Wilmington, DE 19801
Phone: (302) 652-4100
(Website)     (Contacts)
Attorneys to Ad Hoc Unitholder Group Venable LLP
1201 N. Market Street, Suite 1400
Wilmington, DE 19801
Phone: (302) 298-3535
(Website)     (Contacts)
  Venable LLP
Rockefeller Center
1270 Avenue of the Americas, 24th Floor
New York, NY 10020
Phone: (212) 307-5500
(Website)     (Contacts)
Restructuring Advisors to Debtors Development Specialists, Inc.
333 South Grand Avenue, Suite 4070
Los Angeles, CA 90071
Phone: (213) 617-2717
United States Trustee U.S. Trustee
J. Caleb Boggs Federal Building
844 King Street, Suite 2207
Lockbox 35
Wilmington, DE 19801
Phone: (302) 573-6491
Court Information U.S. Bankruptcy Court
District of Delaware
824 North Market Street
Wilmington, DE 19801
Phone: (302) 252-2900
Claims Agent Garden City Group, LLC
P.O. Box 10545
Dublin, OH 43017-0208
Email: WGCInfo@choosegcg.com
Phone: (888) 735-7613
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