--They *may* have filed an initial registration, depending on the amount of money they are raising through sale of shares, and the number of investors they are selling to.
Liquidating trust is a trust designed to be liquidated as soon as possible.
For example: a trust into which a decedent’s business is placed to safeguard the business until it can be sold off.
In fact, a liquidating trust can be a cost effective, simplified structure to wind down a solvent company and realize some value for stockholders.
In the context of a managed liquidation it can be particularly effective as the final stage of a well planned wind down process.
For example, for a small biotech with drug development programs out licensed to third parties, the liquidating trust can be a cost effective way to collect milestones and royalties for a period of time while open issues are resolved and a transaction can be closed to monetize the licensor interest.
In the role of liquidating trustee, (beginning before the trust is formed) we administer and manage the liquidating trust to sell remaining assets, settle open contracts, pay creditors and distribute any available funds to the company’s former stockholders. On the contrary, we prefer to be retained early enough in the wind down process to avoid insolvency and transition smoothly from the public entity to the liquidating trust structure.
Prior to that, he worked at Ernst & Young LLP where he attained the level of manager. Rosenblum holds a Bachelor of Science from Syracuse University and a Juris Doctor from the St. Bryan Sapanza is a Fund Director, Accounting and Financial Reporting of CIM Group, a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. Sapanza focuses on the firm’s opportunistic real estate investment funds. Sapanza was a senior manager with Ernst & Young where he spent nine years in the audit and attestation practice serving global firms in the real estate, private equity, and construction industries.
Jonathan Schultz has the distinction of combining his two passions - real estate and technology - into his role of leading Onyx Equities.
Accounting includes bookkeeping, systems design, analysis and interpretation of accounting information.
The method of keeping accounts which shows all expenses incurred and income earned for a given period of time, even though such expenses and income may not actually have been paid or received in cash during the same period of time.
A retirement account to which an eligible employee can contribute a certain amount of his or her pretax salary; earnings are tax-deferred.