Judge Approves Interim Distribution

On July 9th the Bankruptcy Court approved a $10,000,000 interim distribution to allowed claimants of TSI Holdings, LLC, WSC Holdings, LLC and SouthPark Partners, LLC.  The Trustee’s counsel is circulating a proposed Court Order for input by other attorneys in attendance at the hearing.   Once a proposed Order has been agreed to by the parties in interest, the proposed Order will be forwarded to the Court for consideration.   Once the written Order is entered by the Court, we will post it here.   After the Order is entered, the escrowed funds will be wire transferred to the Trustee’s Trust account for use in the actual distribution.  Distribution checks can only be processed once the Trustee has the funds on hand.   Once the checks are processed, the Trustee will send the distribution checks to allowed claimants as allowed by the Order via U.S. Mail.

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