Liquidation: LUB LIQUIDATING TRUST

Form Type: 10-K

Filing Date: 2025-03-24

Corporate Action: Liquidation

Type: Update

Accession Number: 000119312525061022

Filing Summary: LUB Liquidating Trust filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. The Trust was formed as a result of the dissolution of Luby's, Inc., with all remaining assets and liabilities transferred to the Trust on May 31, 2022. Units of beneficial interest in the Trust have been issued to Luby's stockholders, and there is no public market for these units. The Trust is primarily focused on liquidating its assets, with the liquidation terms structured under a Liquidating Trust Agreement approved by Luby's stockholders. As of March 21, 2025, the Trust still holds one commercial property and has sold several others. The agreement extends the Trust's operational term until the final liquidation of assets or May 31, 2026, whichever comes first. The report discusses various risks associated with the liquidation process, potential delays in asset sales, and the impact of economic conditions on the overall liquidation strategy. The Trust's financial statements indicate ongoing liabilities, including legal and administrative expenses, which may affect liquidity. The report further emphasizes the difficulties in predicting the timing and amount of distributions to unitholders due to these uncertainties.

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