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

(Id. § 5.7(d)).
liquidated and there are no substantial potential
sources of additional Cash for distribution; (B) there
remain no substantial Disputed Claims.
31. Section 5.7(d) of the Plan further provides that the date on which the Final
Distribution is made shall be referred to as the “Termination Date,” and that the Liquidating
Trustee shall provide at least 30 days prior notice of the Termination Date to holders of Class D
Interests, Management Bonus Interests and the CPI Interest. (Id.). Section 5.7(d)(i), in turn,
specifies that on the Termination Date, the Liquidating Trustee shall: (A) satisfy all unpaid
Administrative Expenses; (B) establish the Wind-Up Reserve; (C) transfer the Expense Reserve
Account residual (including Cash from un-drawn checks) to the Distribution Reserve Account;
(D) pay all unpaid Other Secured Claims and transfer any remaining Cash in the Secured Claims
Account to the Distribution Reserve Account; (E) distribute all Cash in the Distribution Reserve
Account to the holders of Class D Interest, Management Bonus Interest and CPI Interest; and (F)
promptly thereafter request the Bankruptcy Court to enter an order closing the Chapter 11 Cases.
(Id.)
32. Finally, the Plan provides that
[A]ll funds withheld from the Final Distribution or
remaining in the Wind-Up Reserve after the
Liquidating Trustee has performed all of its
responsibilities under the Plan shall be paid to
holders of the Class D Interests, Management
Bonus Interests and the CPI Interest in accordance
with Section 5.5 of the Plan, provided however that
the Liquidating Trustee shall not be required to
make de minimis distributions as described in the
Plan. Also the Liquidating Trustee is entitled to
deduct from any such supplemental distribution his
fees and expenses for making such supplemental
distribution.
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