STROOCK & STROOCK & LAVAN LLP Kristopher M - Portrait-trust ...

Interest. (Liquidating Trust Agreement § 1.3(b)). Beneficiaries shall receive Distributions based
on their respective Pro Rata Share of the Distribution and subject to the Distribution Caps set
forth in the Plan. (See Plan § 5.5(f)). Pursuant to the Plan, holders of Allowed Senior Notes and
Allowed Other Unsecured Claims received their Pro Rata Share of Class D Interests in the
Liquidating Trust on the Effective Date. (Id. § 5.5(f)(i)). Holders of Class D Interests are
entitled to their Pro Rata Share of one hundred percent (100%) of distributions to Beneficiaries
up to the First Distribution Cap of $10 million. (Id. §§ 1.44 and 5.5(f) (i)).
24. Under the Plan, Cash payments made in the form of checks shall be null
and void unless cashed within 120 days of the date of issuance thereof. (Id. § 6.4).
25. Furthermore, the Liquidating Trustee may only make interim distributions
of less than $100.00 upon receipt of request therefor in writing. (Id. § 6.7).
(Plan § 6.3).
Unclaimed Distributions
26. With respect to Unclaimed Distributions, the Plan provides that
[I]n the event that any distribution to any holder is returned
as undeliverable, the Liquidating Trustee shall use
commercially reasonable efforts to determine the current
address of such holder . . . provided that such distributions
shall be deemed unclaimed property under Section 347(b) of
the Bankruptcy Code at the expiration of one year from the
Effective Date. After such date all unclaimed property or
interest in property shall revert to the Liquidating Trust, and
the Claim of any other holder to such property or interest in
property shall be discharged and forever barred.
27. Also, the Liquidating Trust Agreement requires the Liquidating Trustee to
[A]dminister the Unclaimed Distribution Reserve
Account to hold funds that were returned as
unclaimed or undeliverable to the holder of the
Claim. The Liquidating Trustee shall hold such
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