Xun Energy, Inc. (fka XNRG)

[osu78OnFire]

badgerbob Member Level Wednesday, 10/22/14 10:36:29 AM
Re: MaxDaniel post# 32927
Post # of 32931


UPDATE ON COURT CASE
civilinquiry.jud.ct.gov/DocumentInquiry/DocumentInquiry.aspx?DocumentNo=8195762

All must realize that 3a10 cases are "friendly" cases not antagonistic. The court hearing is required by law in order for the 3a10 to be legal. Therefore, XUN is/was not involved in some bitter lawsuit with Equity Capital, period. In order for the 3a10 to be completed, it is mandated by Federal law that a fairness hearing be held to complete the transaction. That is all this case is, a fairness hearing to make sure both sides agree to the terms in front of the court.

Page 1, paragraph 5 (see link below): "The plaintiff (Equity Capital) has ACQUIRED and owns all right and title to bona fide outstanding liabilities

The key here is "HAS ACQUIRED" (which means XUN has provided the liabilities list to the plantiff. There is no other way for the plantiff to obtain it otherwise).

http://civilinquiry.jud.ct.gov/DocumentInquiry/DocumentInquiry.aspx?DocumentNo=8029274

Subsequent legal wording is part and parcel with the process (see link directly above)

THIS IS A WELL USED TOOL FOR CLEARING THE COMPANY OF DEBT AND PROVIDING ADDITIONAL EQUITY IT NEEDS TO MOVE FORWARD WITH PLANS THAT HAD BEEN PUT ON HOLD OR SHELVED PREVIOUSLY.

$$$ XNRG $$$

http://securities-law-blog.com/tag/section-3a10/