The Liquidating Trust is intended to be treated as a “grantor trust” for federal income tax purposes.
As such, the tax consequences to a unitholder generally will be similar to those that would be experienced if the trust were treated as a partnership.
As part of ETF Global’s overall risk assessment for individual ETPs, ETFG identifies those ETPs that may be in jeopardy of termination in the foreseeable future.
BOSTON, July 28, 2016 (GLOBE NEWSWIRE) -- Winthrop Realty Trust (NYSE: FUR) (the “Company” or “Winthrop”), which is liquidating and winding down pursuant to a plan of liquidation, announced today its financial and operating results for the second quarter ended June 30, 2016.
" It is this question that has suddenly reemerged with a bang, and could rock the US administration to its core as what until recently was a "fringe conspiracy theory" is suddenly exposed as an all too unpleasant fact, and becomes the biggest political scandal to rock the U. in years, in the process maybe even crushing the friendly diplomatic relations the U. has held for years with its biggest Mid-East ally, Saudi Arabia.
* * * First, a quick tangent: we have been greatly surprised by the reemergence of the topic of September 11 in recent weeks, and specifically the taboo - in official circles - issue whether there was a "Saudi connection" in the biggest terrorist attack on US soil.
As with a partnership, items of income, gain, loss, deduction, and credit derived from the Liquidating Trust will be taxed at the unitholder level, and the Liquidating Trust will not be taxed (i.e., no “double taxation”).
The Grantor Letter is an itemized statement which reports a unitholders allocable share of all of the various categories of income, gain, loss, deduction, and credit of the Liquidating Trust.
As a result, the Company’s shareholders of record on August 5, 2016 will receive beneficial interests in the liquidating trust in proportion to shares held in the Company.Sir Philip said he was "saddened and disappointed" by the liquidation of BHS and "had hoped that the business would be sold as a going concern".The BHS workers' pension scheme, which has an estimated £571m deficit, is effectively already being backstopped by the Pension Protection Fund, resulting in members facing a 10 per cent cut in payouts.Back in January, when the market was watching in shocked silence as oil prices were crashing to decade lows and as concerns emerged that Saudi Arabia may need to commence selling its vast, if unquantified, USD reserves, we wrote a post titled "Attention Finally Turns To Saudi Arabia's "Secret" US Treasury Holdings" where we noted something very surprising: whereas we do know that Saudi Arabia is the owner of the world's third largest USD reserves... their actual composition remains as a secret, because while the US discloses the explicit Treasury holdings of all other nations, "It’s a secret of the vast U. Treasury market, a holdover from an age of oil shortages and mighty petrodollars," Bloomberg wrote of Saudi Arabia’s US Treasury holdings."As a matter of policy, the Treasury has never disclosed the holdings of Saudi Arabia, long a key ally in the volatile Middle East, and instead groups it with 14 other mostly OPEC nations including Kuwait, the United Arab Emirates and Nigeria,” Bloomberg goes on to note, adding that the rules are different for almost everyone else.