Below is from a Nov article about Platinum.
They're being sued by the Trustee of another company they were putting into bankruptcy.
Sound familiar?
There are so many red flags, it's insane. These guys have been running a scam. They fast tracked bankruptcy to try and sneak out during the chaos.
Lets hope the Judge, the Trustee, and the Equity holders committee take the necessary time to dig in and find the REAL TRUTH!
NOV.21 WSJ -
"Black Elk trustee Richard Schmidt has accused Platinum insiders of plundering the oil and gas business by selling Black Elk’s prime assets to benefit the hedge fund.
Mr. Schmidt, a retired bankruptcy judge, said chapter 15 recognition only halts the lawsuit against the Cayman fund, Platinum Partners Value Arbitrage Fund LP, named in the lawsuit. The stay doesn’t apply to other entities named in the trustee’s lawsuit or a state lawsuit brought against former Black Elk directors and officers, Mr. Schmidt said.
“We will continue to pursue our action in whatever court it is appropriate to do it,” Mr. Schmidt told The Wall Street Journal."
