Liquidating Distributions

9 Months Ended

Dec. 31, 2016

Text Block [Abstract]

Liquidating Distributions

4. Liquidating Distributions

Liquidating distributions in the three months ended December 31, 2016 consisted of the following:

(in thousands)	Fair Value
Distributions during the three months ended December 31, 2016	$	112,209
Less: Liquidating distributions payable at September 30, 2016		(114,038	)
Add: Liquidating distributions payable at December 31, 2016		1,856
Total	$	27

Liquidating distributions in the nine months ended December 31, 2016 consisted of the following:

(in thousands)	Fair Value
Distributions during the nine months ended December 31, 2016	$	112,355
Less: Liquidating distributions payable at March 31, 2016		(6,213	)
Add: Liquidating distributions payable at December 31, 2016		1,856
Total	$	107,998

The distributions during the three and nine months ended December 31, 2016 consisted of distributions to (a) holders of GUC Trust Units for excess distributions payable, (b) holders of Allowed General Unsecured Claims who previously failed to fulfill informational requirements for distribution established in accordance with the GUC Trust Agreement, but subsequently successfully fulfilled such information requirements and (c) holders of certain Term Loan Avoidance Action Claims.

The GUC Trust was obligated at December 31, 2016 to distribute Distributable Cash of $1.9 million to the following: (1) certain holders of Allowed General Unsecured Claims who had not then satisfied certain informational requirements necessary to effect the distribution to which they are entitled and (2) holders of certain Term Loan Avoidance Action Claims as described in Note 3.