ResCap Liquidating Trust Announces Ninth Distribution to Unitholders

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Jun 18, 2018, 09:14 ET

MINNEAPOLIS, June 18, 2018 /PRNewswire/ -- The ResCap Liquidating Trust (the "Trust") is pleased to announce that its Board of Trustees has declared a cash distribution of $3.5403 per unit to holders of units of beneficial interest in the Trust, totaling $350 million. The distribution will be paid on July 13, 2018 to unitholders of record as of the close of business on June 28, 2018.

The entire distribution of $3.5403 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 unitholders 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 unitholders, 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 $3.5403 per unit as U.S. source income subject to federal withholding. As a result, the Trust anticipates that unitholders subject to withholding will receive a distribution net of the required withholding.

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

SOURCE ResCap Liquidating Trust