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Article: Bridge Associates, LLC, Announces Successful Sale of Assets of ADLT Class 7 Liquidating Trust.
- Article from:
- PR Newswire
- Article date:
- February 13, 2006
CopyrightCOPYRIGHT 2006 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TAMPA, Fla., Feb. 13 /PRNewswire/ -- Bridge Associates, LLC, through Mark Stickel, a member of the firm acting as the Trustee for the ADLT Class 7 Liquidating Trust, today announced that the Trust, which was created to hold certain of Advanced Lighting Technologies, Inc's ("ADLT") assets for the benefit of most of ADLT's shareholders, has completed the sale of its holdings for a total of $16.3 million. This sale translates into an estimated total distribution of approximately $0.72 per eligible share to the Trust's beneficiaries. During the ADLT' Chapter 11 case, estimated shareholder returns were in the $0.04 to $0.08 range.
The Trust has already distributed ...