The Trust was created on September 10, the date that Noel Group, Inc.
completed its Plan of Complete Liquidation and Dissolution.
In addition to the cash distribution, Noel shareholders received one trust unit for each Noel share owned representing a pro rata interest in Noel's remaining assets, net of remaining liabilities, including the company's entire holding of 6,319,594 shares of Carlyle Industries, Inc.
completed its liquidation process Friday with two liquidating distributions to shareholders of record on September 3, the final closing date for Noel's stock transfer books: a $3.0 million ($0.146 per share) cash distribution and trust units in the Noel Liquidating Trust representing ownership of its remaining holdings.
(OTC Bulletin Board: CRHL) common stock to holders of the 20,567,757 Trust units.