ResCap Liquidating Trust Announces Eleventh Distribution to Unitholders

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Feb 26, 2019, 18:03 ET

MINNEAPOLIS, Feb. 26, 2019 /PRNewswire/ -- The ResCap Liquidating Trust (the "Trust") announced that its Board of Trustees has declared a cash distribution of $.7586 per unit to holders of units of beneficial interest in the Trust, totaling $75 million. The distribution will be paid on March 25, 2019 to unit holders of record as of the close of business on March 8, 2019. The distribution is greater than 25% of the market value as of 2/26/19, therefore the Ex-Dividend date will be March 26, 2019.

The entire distribution of $.7586 per unit will consist of Trust income that the Trust believes is U.S. source income subject to U.S. federal withholding tax to the extent allocable to unit holders that are not U.S persons (or in certain circumstances do not otherwise establish their status as U.S. persons under applicable rules). Because the Trust does not have the necessary information concerning the identity and tax status of its unit holders, the Trust will distribute the gross amount of the distribution to brokers (through DTC) and anticipates that the required tax withholding will be effected by U.S. brokers (or other nominees), who should treat the entire distribution of $.7586 per unit as U.S. source income subject to federal withholding. As a result, the Trust anticipates that unit holders subject to withholding will receive a distribution net of the required withholding.

Unit holders should consult their tax advisors with respect to the tax treatment of the distribution.

SOURCE ResCap Liquidating Trust