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Whether through luck or insight (I will always take luck), we do not believe we could have timed adoption of the plan of liquidation better.While the world is still awash in liquidity, headlines bespeak concern over excessive asset pricing.It’s why thousands of businesses have counted on us for over 30 years.See why they always call on Total Office Solutions.
At the end of 2013, the company had interests in 114 assets which should be reduced to 14 if we are successful with our current marketing efforts before we become a liquidating trust.
When and how are creditors paid by the Panel Trustee? Upon filing of the bankruptcy petition, the debtor turns over all non-exempt property to the court-appointed bankruptcy trustee, who then converts the property to cash to make a distribution to creditors.
Why are Panel Trustees necessary for the Bankruptcy System? Chapter 7 bankruptcy is a liquidation legal proceeding.
All of us together with our Board of Trustees look forward to seeing you once again at our Annual Shareholders meeting on May 17th in New York City.
With 30 years of leading safe, dependable businesses, best in class business insurances protecting our clients, and by having the best of class resources, Total Office Solutions has many qualities that the eye doesn’t see!
Since the adoption of the plan of liquidation, we have distributed $4.50 in cash per common share.