Liquidating Distributions

6 Months Ended

Sep. 30, 2020

4. Liquidating Distributions

Liquidating distributions in the three months ended September 30, 2020 consisted of the following:


(in thousands)
Distributions during the three months ended September 30, 2020	$	432
Less: Liquidating distributions payable as of June 30, 2020		(54,314	)
Add: Liquidating distributions payable as of September 30, 2020		57,235

Total	$	3,353

Liquidating distributions in the six months ended September 30, 2020 consisted of the following:


(in thousands)
Distributions during the six months ended September 30, 2020	$	299,937
Less: Liquidating distributions payable as of March 31, 2020		(351,876	)
Add: Liquidating distributions payable as of September 30, 2020		57,235

Total	$	5,296

The distributions during the three months ended September 30, 2020 consisted primarily of distributions to beneficiaries that were previously returned to the GUC Trust as described below and were recorded in liquidating distribution payable as of June 30, 2020. The distributions during the six months ended September 30, 2020 primarily consisted of distributions of $300.0 million to holders of GUC Trust Units. Distributions paid with respect to GUC Trust Units held by the GUC Trust on behalf of certain governmental entities and holders of Allowed General Unsecured Claims (who had not yet supplied information required by the GUC Trust in order to effect the distribution to which they are entitled) aggregating approximately $0.3 million were returned to the GUC Trust during the three months ended June 30, 2020. In addition, during the three months ended June 30, 2020, approximately $0.2 million was returned to the GUC Trust for distributions made to holders of Resolved Term Loan Avoidance Action Claims that were not deposited by such holders. Such distributions returned to the GUC Trust not yet distributed to the beneficiaries as of September 30, 2020 are recorded in liquidating distributions payable as of September 30, 2020.

The GUC Trust was obligated as of September 30, 2020 to distribute Distributable Cash of $2.5 million to (a) 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 (b) to the beneficiaries of the distributions returned to the GUC Trust described above.