Accredited Mortgage Loan REIT Trust Declares Special Distribution
January 12 2012 - 9:00AM
Business Wire
On December 29, 2011, Accredited Mortgage Loan REIT Trust
(“Accredited REIT”) received a distribution from the Liquidating
Trust in the matter styled In Re: Accredited Home Lenders Holding
Co., et al., Case No. 09-11516 (“AHL Bankruptcy”) pursuant to the
provisions of the Debtors’ Fifth Amended Chapter 11 Plan of
Liquidation (“Fifth Amended Plan”) approved on May 24, 2011, by the
U.S. Bankruptcy Court for the District of Delaware (“Bankruptcy
Court”). The Board of Trustees of Accredited REIT subsequently
declared a special cash distribution to the holders of its 9.75%
Series A Perpetual Cumulative Preferred Shares in the aggregate
amount of $28,655,746, representing $7.00 per preferred share
outstanding. The cash distribution from Accredited REIT will be
paid on February 3, 2012, to holders of record of its preferred
shares as of the close of business on January 24, 2012.
Accredited REIT may receive additional payments from the Debtors
pursuant to the Fifth Amended Plan. However, the timing and amount
of any such future payments are beyond the control of Accredited
REIT. Copies of the Fifth Amended Plan, the Fifth Amended
Disclosure Statement, the Bankruptcy Court’s Order Confirming the
Fifth Amended Plan and other information concerning the AHL
Bankruptcy may be found at www.kccllc.com. The Board of Trustees of
Accredited REIT may declare additional dividends or distributions
to the holders of its preferred shares if, as and to the extent
determined in the sole discretion of its Board of Trustees, subject
to the provisions of law and the Declaration of Trust of Accredited
REIT, as amended and supplemented to date.
Accredited Mortgage Loan REIT Trust, a subsidiary of Accredited
Home Lenders Holding Co., is a Maryland real estate investment
trust that was formed in May 2004 for the purpose of acquiring,
holding and managing real estate assets.
Statements regarding future events constitute forward-looking
statements within the meaning of the federal securities laws. Such
statements are based on current expectations, and the actual
results and the timing of certain events could differ materially
from those contemplated by these forward-looking statements due to
a number of factors including, but not limited to, developments in
the AHL Bankruptcy and the liquidity of Accredited REIT.