Tax Opinions Order
On October 15, 2020, the Court granted an order approving the requests in respect of the Tax Opinions related to loans advanced by BDMC. The Tax Opinions Order contains, among other things, a paragraph that orders that the Tax Opinions Order applies, with any necessary modifications, in the Sorrenti proceeding.
A copy of the Tax Opinions Order and the related endorsement is provided below.
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On May 26, 2025, the Trustee served materials in connection with its motion returnable June 6, 2025, which provides, among other things, a comprehensive update on developments in these proceedings since the Sixth Report and support of the Trustee’s request for the following orders that would, among other things:
authorize and direct the Trustee to carry out the Additional Notification Process ;
deem the Fortress Funds to constitute Estate Property (as defined in the Appointment Order);
approve the Trustee’s seventh report to Court and this Eighth Report, and the Trustee’s activities as described therein; and
approve the Trustee’s fees and disbursements, including the fees and disbursements of its counsel, for the period from March 1, 2023, to April 30, 2025.
On May 26, 2025, the Trustee served materials in connection with its motion returnable June 6, 2025, which provides, among other things, a comprehensive update on developments in these proceedings since the Sixth Report and support of the Trustee’s request for the following orders that would, among other things:
authorize and direct the Trustee to carry out the Additional Notification Process ;
deem the Fortress Funds to constitute Estate Property (as defined in the Appointment Order);
approve the Trustee’s seventh report to Court and this Eighth Report, and the Trustee’s activities as described therein; and
approve the Trustee’s fees and disbursements, including the fees and disbursements of its counsel, for the period from March 1, 2023, to April 30, 2025.
On December 18, 2024, the Trustee served materials seeking an order that, among other things:
- approves the Soba Settlement Agreement; and
- authorizes the Trustee upon receipt of the $350,000 ("Settlement Payment") to distribute 65% of the Settlement Payment to the investors in the Soba Project
On December 18, 2024, the Trustee served materials seeking an order that, among other things:
- approves the Soba Settlement Agreement; and
- authorizes the Trustee upon receipt of the $350,000 ("Settlement Payment") to distribute 65% of the Settlement Payment to the investors in the Soba Project