ATP Oil & Gas Corp fka ATPAQ

[SSTChicago]

Anyone have info on the tender to convert pfd. Into common at 4.5 to 1 ratio?

[hotmeat]

Get back on your meds wacko!

You people are completely off your rockers. WOW!!!

[rockraider3]

Again, documents still posting to KCCLLC as of April 2019. Nothing material, but gives the illusion that there's still activity. Also my brokerage account still shows my position, so the securities have not been officially cancelled as of yet (although they appear at basically a zero value).

So just curious if any other bagholders are still hanging around, waiting for the miracle? lol. meh, win some, lose some.

[rockraider3]

Anyone around? It's been a year. Still documents posting to KCCLLC. Although nothing noteworthy it seems.

[romang]

Sorry i have not been following the case. Seams like all hope is lost. I sold most of my shares for a tax loss last year.

[rockraider3]

Can we presume the Trustee made this payment that was authorized but not required to pay the arrears on the Israeli assets?

http://www.kccllc.net/atpog/document/1236187170309000000000002

If so, where does that leave us?

[rockraider3]

Anything new on ATP? Anyone following along anymore?

[romang]

http://www.kccllc.net/atpog/document/1236187170303000000000002

[OHMYGOD]

Link?

Thanks,

Omg

[palico]

See docket #3958 dated 3/3/17. Everybody on this website should be writing a letter to the Court in support of Randy Tow/Charles Rubio motion. It is not a given that Isgur is on the side of the non-dip creditors. Your letter should end with same bankruptcy laws used by Charles Rubio in paragraphs 15 thru 19.. You should also ask the Court to contact ALL of the creditors to see if every creditor wants to chip in the funds. There are enough creditors to put up ten times the money needed.See docket #2 in August 2012 listing the 30 largest creditors. Those 30 alone could afford 10 times the amount needed. Tell that to the judge.

[Mwnotary]

Please keep me posted, I will check back.

My question is why do they have a web site that says under construction be comming soon, if we are stuck holding stocks that are no good, it doesn't make sence to me.

[BAMBAM1965]

Please put me on the list .

[rockraider3]

I'd be willing to dump in $70 per $100,000 face value that I hold, but what I hold is completely insignificant.

Shocking to me that the Trustee has no lists or information on who owns the bulk of the $1.25 billion in senior unsecured debt. Maybe beyond shocking.

Now I suppose at sub 1 cent, and with this being a dead fish in the water for years now, bondholders could have all turned over. But come on. Once you've ridden it down this far, there's no reason to sell to recoup principle on these at a few cents per bond (literally).

Seismic, if you are reading, give us an update please.

[palico]

Seismic, Randy Tow is asking you for a list of the unsecured creditors. Tell him to take a look at the ATPG claims list on the court web page. It shows unsecured, secured, administrative claims etc. It shows the amounts claimed , names and addresses. Some of the claims are for over a million dollars. Doesn't he think they would gladly fund the payment needed to secure the Israeli claim. With regards to going back to Capter 11, the case would still be in Chapter 11 if someone did not write a crude letter to the Court which was completely invalid under the motion rule but they posted it even though they did not post your motion because it did not conform to the motion rule. That should tell you something about Isgur's conduct as an impartial Judge. Then in open court he says someone has made a motion for Chapter 7 and Mr Kelley says "I second the motion". Was it in compliance with the court rule ? Did you get a copy of the motion in the mail allowing twenty days to reply if you objected to the motion ? I didn't. Now that crude letter may cause everybody involved to lose out on hundreds of millions of dollars and wasn't even valid under court rules. Maybe Randy Tow should use his highly paid lawyers who are now being paid while the creditors are not to just make a motion that the Chapter 7 motion was invalid under the rules and the case automatically goes back to Chapter 11.

[ggirl]

I'm here. Keep posting to let us know what's happening.

[miki711]

hallo
ja ich bin Stammaktieninhaber (Commons)
und ich verfolge dieses Forum schon lange
bin gespannt was noch passiert
danke an alle die sich Mühe machen

[romang]

This sounds good better then zero hope i had before. moves are odds for a recovery form 0% to maybe 10% in my opinion for the 2nd lien bonds sadly i do not see this reaching commons.

I sold most of my ATP bonds for a tax loss but i still hold a few in my Roth and i would vote to accept this is we had a vote.

[RealRaynor]

Sounds very interesting. I am still holding bonds and am watching this. Today, I sent an email to the trustee expressing my interest in participating.

However, the big players would be better suited to finance this.

I suggested to the trustee to
a) contact the Depository Trust & Clearing Corporation (DTCC), which could contact all people still holding the bonds (they can do that for corporate actions like splits/dividends etc.),

b) contact the plaintiffs in the ATP bonds securities class action, Court of Appeals Docket #: 1531094: The Firefighters Pension & Relief Fund; or in general members of the class,

c) contact the Bank of New York Mellon Trust Company, N. A. as trustee and collateral agent for the bonds.

The DIP Lenders should be interested in investing some money as well to recoup their DIP claim.

[seismic]

Ja das ist die Stammaktien Aktionäre Forum, sind Sie Inhaber eines Shre?

[miki711]

hallo
bin Besitzer von Stammaktien bin ich dann richtig auf diesem Forum
danke an alle
miki711

[OHMYGOD]

Words are cheap, I am willing to listen to the trustee simply because it sounds like he has been working his assistant off for us. I was not aware that there was a settlement with BP. What are the payments he refers to?

Best,

OMG

[seismic]

OhMyGod thanks for your post!

I had basically given up, it was really painful. But without a legal team what can one expect.

I received a package from the trustee today, I have been asked by the trustee to contact him and in his letter he asks if there was a forum to communicate with what he calls the ATP unsecured creditors.

Because he asks for information on a forum to communicate and his letter is not marked confidential please find the following letter to me.

Dear Mr. Meyer,

I am the Chapter 7 bankruptcy trustee for ATP. Since you were an active unsecured creditor in this estate I would like you to contact me at your earliest convenience.

I recently filed a motion for use of cash collateral seeking to use $345,000 of funds to pay for the expenses on the Israeli gas interests so the estate could proceed with its investment. The motion advised the Court that the estate would need to use $4 million of the BP funds to pay our portion of the first well and another $4 million for the second well. I advised the Court that I was hoping the timing of the need to use the funds would correspond to the next two BP payments which will come in October 2017 and October 2018. At the hearing the Court was emphatic that he would not allow me to make a speculative investment of estate funds for this project and that I needed to sell the interest.

It is clear that if I sell this interest now the unsecured creditors will get nothing. In fact, the DIP lenders will not be paid in full either. I explained to the Court that in order to protect a potential recovery for the unsecured creditors I need to take this asset through both drillings. I told him that a sale now would guarantee that the unsecureds would receive nothing. He stated that there was less than a 1% chance he would approve the investment, that if I wanted to do something like that then I would have to convert the case to a chapter 11 and then he believed there would only be a 4% chance he would approve it. In other words, the chance is bleak.

If the first well is successful the value of this asset increases exponentially. If the second well is successful, it is likely the unsecured creditors would receive something unless the figure of $500 million being owed to Chapter 11 administrative expenses is correct, which I doubt but that issue may have to be litigated.

There are fields surrounding the Daniels East, Daniels West, and the Shimshon that have been successful. I've enclosed some data gathered by my engineer regarding these fields.

Is there a forum to communicate with ATP unsecured creditors? I would like to communicate with as many ATP unsecured creditors as possible to see if there is a way this asset can be preserved for the potential benefit of unsecured creditors. If the Court will not let me use estate funds for this purpose, it is possible he may agree to the use of non-estate funds. I did a quick calculation and realized that if all unsecured creditors participated in the effort to raise the funds necessary to drill these wells, assuming $1.25 billion in unsecured creditors, the investment would be about $70.00 per $100,000.00 of original investment.

Whether the investment comes from the unsecured pool or elsewhere I don't care, so long as I can try to preserve this asset's value for the benefit of unsecured creditors. If we remove the speculative use of estate funds and replace it with the speculative use of third party funds then maybe we can get this through whether it is in a chapter 7 or a chapter 11. I can move to convert to a chapter 11 if l can work something out. However, in a chapter 11 we will need votes to approve a plan.

Those details can be worked out later. The purpose of this email is to try to help you as an unsecured creditor. If this effort does not work then I will have to sell all or part of the interest. At today's value a sale of the entire interest will not be at a price that can make a return to unsecured creditors.

What I want to do is work out a mechanism to try to help the unsecured creditors. The forum or just emails may work. Please let me know if you think you can help.

I want to emphasize, there is absolutely no certainty I can organize anything that will work but I'm willing to try.

Yours truly,

Rodney Tow

[OHMYGOD]

Hey Seismic,

I stopped praying for ATP a while back. What is up?

OMG

[seismic]

Good evening ......... I received a letter from the Trustee today. It appears he needs our help.

Anyone left watching ATP?

[Mwnotary]

If anyone knows any information about this stock did we lose our stocks, or is there still a chance. I would appreciate the information.

[japhbu]

What is the latest news? Are we finished?

[Mwnotary]

I haven't been up on this board for awhile, I read all the post, that it was looking good there for a little bit, till the last couple post. Would like to know how the hearing turned out. I saw ATP oil & gas, Atpog, is opening a web site, it say web site comming, I thought maybe there was still some hope till I read these messages tonight. Please post something so we know if we are totally dead in the water
Thank you all, for the post.

[cdkrause]

I missed the second half of the hearing. I was very disappointed in the lawyer just wanting to give up and ask for only 30 million. Did anything notable happen in the second half?

[ROCKHard]

Ever since all three (Common, Preferred, and Bonds) have been destroyed, I've taken my eyes completely off of this disaster. So then what is it that we're looking for at the hearing that might reignite some hope for our losses?

[seismic]

Telephonic Participation/Live Viewing of Court Documents During Hearings.
a. Dial in at least 5 minutes before your hearing is scheduled to begin.
b. Parties are always permitted to participate by dial-in without any permission or notification to the Court except:
i. Dial-in participation is not allowed for chapter 13 panel hearings.
ii. Witnesses may not be presented by dial-in and witnesses may not be examined by telephone, except in emergency situations if the Court determines to waive this prohibition for good cause.
iii. Parties may not participate by cell phone, but may listen to hearings from their cell phone.
c. Parties may not participate by speakerphone.
d. Do not place your telephone on hold. You may mute your phone. If you dial in to a hearing, you are participating in a court proceeding and are bound by the normal rules of courtesy and attention.
e. If a technological problem arises, the hearing will continue without the participation of dial in participants. The Court will not delay hearings for signal problems or interference. Accordingly, persons choosing to attend a hearing by dial-in do so at their own risk of a technological failure.
f. The following procedures must be used for dial-in participation.
i. The dial-in number is 1-712-432-3100. You will be responsible for your own long-distance charges. This dial-in number should be used regardless of the Court location of the hearing (Houston, Brownsville, Corpus Christi, Galveston or McAllen).
ii. You will be asked to key in the conference room number. The conference room number is 815978. Once this number is entered, you will be connected live to the courtroom.
iii. Once you are connected, you will be able to hear persons speaking in the courtroom and other persons on the call addressing the Court. You will not be able to address the Court until the Court addresses you or you request to speak and the Court grants the request.
iv. If you wish to address the Court, you must press 5*. Do not press 5* until you need to address the Court. Within 5 seconds, the Court will receive a signal that you wish to speak. When the Court calls on you, you will hear a recorded message that your line has been unmuted. At that time, you can be heard.
v. When you are done, the Court may again terminate your ability to speak. You may press 5* if an additional issue arises that you wish to address with the Court.
vi. Telephonic participants may connect on-line to view the Court’s broadcast onto the courtroom’s television monitors. This procedure will not show any broadcast made by a party. To view on-line, you may connect through the website located at https://www.join.me. Click on “Join Meeting”. The code for the meeting is “judgeisgur”. If you are attempting to view the broadcast on an IPAD or similar device, you may be required to download a free app from the website.

[palico]

I notice the court record is posting documents by email. The Court main page shows an email enquiry email address of " district ecf [e-mail] " You click on that and it gives you a page for sending emails. You can try that and see if it gets posted. Identify Isgur and Court case number

[seismic]

The next best thing is to call in, I will not be driving to Houston but will be calling in. From the court documents, looks like two letters.

Folks need to call in, I will provide everyone with the call in instructions to make it easy. You can also see the hearing via the internet. I will provide that information also.

We need to flood the call in line.

[palico]

Send your letter to the Court Att: Judge Marvin Isgur by overnight mail tomorrow morning 8/12/16 or it will not arrive on time.

[cdkrause]

by e-mail or snail mail? What is address of the one we should use?

[seismic]

Send letters Today!!!!!!!

[palico]

Realraynor, the answer to your question is yes. The judge is looking for oppositions to Randy Tow's BP motion. It is obvious from his posting of allowing for letters to the court in lieu of formal motions of opposition. This case is now between the debtor,(Randy Tow trustee) vs. the creditors. And in Chaptor 7 the Trustee and his boss, U S Trustee Nancy Holley are entitled to 10 percent of any sale. That is what the law says. Every person on this website should be sending a letter of opposition today. Even if you can't type it to make sure it gets to the court before Monday morning 8/15. If no one opposes it, by law, Isgur has to grant it. He needs as many opposition letters as possible posted to the court docket to show he ruled in favor with the majority in case this case goes to an Appeals Court which it probably will. Their is no need now to settle anything with BP. The creditors will get nothing. Tell the judge we should wait until we hear from Motley Rice.

[seismic]

Good Evening ..... a must read is Mr. Mekbib's letter, court document 3795.

Just me, it is not over we have a hearing.

[RealRaynor]

Maybe one of us should oppose (by a written filing and telephonic appearance on the hearing) the trustee's motion to settle with BP in terms that the settlement should only be approved if our advisor Motley Rice says it is approvable. As Motley Rice gets 33% on contingency of any settlement they should be inclined to fight for 33% of 3.x billion USD instead of 33% of 25 million USD if they think it is worth it.

The parties from the OPA test cases appealed Barbier's order from march 2016 dissmissing the moratorium claims and the appeal has not yet been ruled on (United States Court of Appeals FIFTH CIRCUIT Case 16-30245). Docket is here:

https://ecf.ca5.uscourts.gov/cmecf/servlet/TransportRoom?servlet=CaseSummary.jsp?caseNum=16-30245&dktType=dktPublic&incOrigDkt=Y&incDktEntries=Y

I'm living outside the US, so maybe a US resident could act and oppose the trustee's motion.

[cdkrause]

I presume everyone got the notice about the court settlement hearing on August 15, and telephone invitation. Is it worth listening to or does everyone believe that the settlement is essentially done?

[TheProfit]

Thanks Romang..I am getting rid of these worthless bonds to use against all my stock gains this year, actually going to help this yr to have a big negative for tax purposes..
Thanks for the update..and take car my friend!

[romang]

Yes the dip is still owed money i think its more then that not sure the exact amount. And the gas money could be a nice recovery but we would probably sell for a big discount. And the dip would get first dibs on the cash. I believe 99% that this will be just a tax loss from me.

Basically the judge on the BP lawsuit destroyed any chance of recovery.

My new thing i am into is www.solarcoin.org if you are interested.

Trades with bitcoin
https://bittrex.com/Market/Index?MarketName=BTC-SLR

[TheProfit]

Is the DIP still owed $160m plus interest? How likely is getting a payout on natural gas fields and approx how much would that be? I've held this long I guess its worth holding longer to see how this plays out..any thoughts??

[romang]

Judge ruled against the test cases that's why. Tax loss time unles we get money from the natural gas fields.

[Franklin2013]

Unbelievable BP settlement proposal is $25 million:

http://www.kccllc.net/atpog/document/1236187160531000000000001

[romang]

Thanks you to buddy.

[TheProfit]

Good catch Romang! Hope all is well with you besides this POS!

[TheProfit]

Sure sounds like fight is continuing! The part I liked the most was the special counsel will pay any fee's upfront..this sounds to me like the lawyers think there is a very good chance they do get atleast some money out of BP litigation case. Why else would they agree to front all fee's and still take this case on???
Anyone please chirp in if you have been following this case.
Thanks again Romang!

[biltan]

Sure sounds like it. Can't hurt.

[romang]

Fight continues?

http://www.kccllc.net/atpog/document/1236187160321000000000001

[romang]

Not good.