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There are no more shares, only Litigation Trust Units (LTU's). The shares have been exchanged 1 share for 1 Class B LTU..Payouts could workout to be a lump sum or many smaller distributions over the years, which will be a more likely scenario..Remember there are also, Class A LTU's.. (Creditors).. which will have to be paid first and then after that. Class B LTU's (Shareholders) will be second in line.
NWBO up over 20% and over 1 million shares traded. Interesting
Also noticed that Mercuria-Minerva Bunkering did indeed hedge, before oil prices got cut in half. I have been wondering about that, since when the oil prices collapsed. So that means, Mercuria and Minvera Bunkering are still financially sound, while everyone else is collapsing..
Thanks vagelis for the news. It's always good to know, how all of the pieces of the puzzle are doing.
Another interesting development,is that tomorrow is the last day of the first quarter 2020..As MastaBeta pointed out, Mercuria Settled 71 out of 74 divisions of Aegean Marine Petroleum Network, Inc..Also makinezmoney pointed out today, That AMEX still seems to be greedy after volunteering to be on the Bankruptcy Committee.. That case should be thrown out..It appears that we're getting a lot closer to resolving our cases, to get to our payouts.
.. So anyway we still have more waiting to do..I'm wondering why it took so long for the 4th quarter 2019 Litigation Trust Report to come out, also how much Mercuria has set aside for payouts to the Litigation Trust. Because they also have to return, any stolen funds found, to the Litigation Trust. IMO GLTA Class B LTU's
..I took a look at the 3rd Quarter 2019 Litigation Report it also had the word TBD in the Financials.
.. The other Docket #684 3/19/2020 is showing positive cash..Keep in mind it looks like Mercuria is using it's own cash to own Aegean Marine Network Inc. free and clear and renaming it Minerva Bunker. What it does, as far as we are concerned,-- is not showing us how much cash, debt, and assets ANW had.--If a lot of cash is found-- thru returned cash, hidden cash, or hidden assets,-- that was not part of the Bankruptcy--- then it would belong to the Litigation Trust as a recovery.-- I'm sure if Mercuria does not want to do this properly-- than the Defendants will require it as part of any Settlement. So far Mercuria has shown no signs of being corrupt and are flush with cash to do this properly ---so we can get a fair deal. IMO
The 4th Quarter 2019 Litigation Trust Report is the one were all waiting for. It is a continuation of the 3rd Quarter 2019 Litigation Trust Report. What is interesting about this Litigation Report, was they added a line in the the financial statement, ( Other Assets--Litigation Assets--TBD ).. TBD (to be determined) , it looks like part of Docket # 684 that makinezmoney was taking about today, showing that Class A's should have enough to be paid now, and they're moving onto Class B LTU's . We're still in the game, just need some payouts to get the ball rolling. Also keep in mind when the Class A's are paid, all of the future Litigation wins go to Class B's..We just need our money ASAP. IMO GLTA, my prayers go out for our success, happiness and good health.
Not sure how it can be a new docket (#684) when it's been on the Epiq 11 site since 3/19/2020..
Wouldn't mind getting the Class A out the way and start putting $CASH$ into our Class B Holders pockets ASAP. GLTA
..An interesting post (4166) I wrote a while back, about receiving our distributions , while the market takes a dip. My words may come true. IMO
One of my old posts (4137), we can always make more noise. Always good to hear from everyone, stay safe, good luck to all.
So you believe that the Class A LTU's have been paid off. That would truly be amazing news. Also there is more litigation by the Litigation Trust, that the wins would go to the Class B LTU's.. If it is true we would be truly blessed.. Stay safe and the party will be on the way. GLTA Class B LTU.s
.Hope tomorrow is the day we can change course and start to be on the receiving end. Although tomorrow maybe the last day of the month, and the Litigation Trust submits the 4th Quarter Report, it still may not show up on the Epiq 11 site, for a few more days. GLTA
This post (#4130) seems to show how long us Class B LTU's has have waited (May 2019) and I hope and prayers, that we get some relief,in the next few days, thru the 4th quarter 2019 Litigation Trust Report. GLTA and stay safe.
..Here's a practical guide to the road to distributions, post # 4122..
Here is a post (#4120) which I previously posted. I believed at the time a Market Maker wanted to buy our Class B LTU's to cover his naked short position or believed the Class B LTU's were worth more than a $1.00 per unit and wanted to trade in it. Others believed that it was to do a count of who owned all of the Units and who the payments will be made to. IMO
Here's another post (#4115) that should help answer your question.
.I've been reviewing some of these older posts, since the pace of life has slowed down with this Covid-19 thing..
..So I have a question for you, when and if you have time for it..Seventy-one out of seventy-four cases of the Post Bankruptcy, have had a Final Decree..Could these 71 out of 74 cases, that have had a Final Decree, could there have been found, stolen, missing, returned, or other reasons that the Class A LTU's have been paid off ?? Then is it possible, for the Class B LTU's to have a payout after this Litigation Trust, 2019 4th Quarter, Report, that should come out in a few days ??
...Stay safe, healthy, and out of Hub jail to all Class B LTU's Holders
Here's another post (#4025) that will help answer your question.
Post #3775 should be Post #4018
You do not have to do anything except wait for distributions. See post # 3775. Also some posts that maybe of interest to you, 3852-3853-3856-3864-3871-3873-3904--3911-3918-3924-3952-3964-3967-3996..and many others.
...It is interesting that you made your first post this week. Considering that the Litigation Trust Report should be coming out in a few days. My prayers are, that it will show a distribution due, to the same Cusip number, that I believe you have. Stay safe and healthy all Class B LTU's Holders.
The recent rally was short covering. It will be a little longer before the the markets turn around. IMO
I find it interesting that you mentioned that 71 cases out of 74 cases have been closed out... With Docket #653, showing 70 of the 74 cases, on December 16 2019 were closed out... I'm well curious about this report, that is to come out by the end of the month... The reason being, is why would the Litigation Trust not be able to disclose if any payments were made to the Litigation Trust and the long delay for the report to come out ?? If there was no payments, made to the Litigation Trust, there would be no need to worry about disclosures and a delay in the Litigation Trust Report , which should have came out around February 15th 2020. In summary my prayers are that, the Class A LTU's have been paid off, from hidden illegal funds that, may have been found and are owed to the Litigation Trust. This could set us Class B LTU's in line for payments also. That would be the best case scenario for us right now and praying for, along with good health, for all of us. GLTA Class B LTU's Holders
Yes and hope we have good news. My prayers go out to us, for a recovery of our funds and good health, to all of us. GLTA
.Yes it would be nice, to get closer, to payout numbers, such as 65 cents, $3.00 dollars or more. It does look to be a long process, that we're working thru. Hopefully we can get the Class A LTU's paid off sooner, than later. Which is why I'm curious, if the Litigation Trust Report will show that some of it has been paid down. Then when Settlements are made, we can start getting some estimates of what us Class B LTU's Holders could receive. At least that's the way it's looking to me now. If others see it differently their viewpoints would also be interesting, to be heard. GLTA
Was able to talk to the Litigation Trust today. They said "the 2019 4th quarter Litigation Trust Report will be out by the end of this month and will be on the Epiq 11 site.
.I also ask how much was owed to the Class A LTU's ? He said around 250 million to 275 million dollars after the 40 million dollars has been paid to the Class A LTU's..
.I asked if any payments have been made to the Litigation Trust? His answer was that we would have to wait for the Litigation Trust Report to come out, due to disclosure reasons and that they are not involved in that part.
.I asked any settlements have been made by the Litigation Trust, his answer is not yet. If any settlements were made they would know, because that's what they do.
.I also asked If they see favorable judgments for the the Litigation Trust, with difficulties in collecting? His answer was they do not have any Settlements yet and do not do, the collection part when Settlements are Court Ordered. So next time I call I will dwell on this question more and if they see, unfavorable judgements , will be more likely.
.Anyway were looking for our 4th quarter 2019 Litigation Trust Report within a week, with a possibility Mercuria has made some payments to the Class A LTU's and the Class B LTU's getting closer to a payout. GLTA Class B LTU's
epiq 11 pretty much just prints out Dockets as they get them. The way life is slowing down, I maybe able to get a hold of someone at the Litigation Trust. If someone else wants to, let us know how it goes. GLTA
So anyway it would be nice to know where we stand as Class B LTU's Holders. Hopefully Mercuria has found a boatload of cash hidden on the books, or someone got scared and returned the stolen funds. As long as the news remains good, even though were blinded to it, I can wait. GLTA
Well it is nice to get Docket #682. However it is not the Litigation Trust Quarterly Report for 2019 4th quarter.. So the mystery remains why we are not getting our quarterly Litigation Trust Report. As of now I can only guess the Litigation Trust does not want the Defendants to see the report or that it is complete separate entity from the Bankruptcy now. So it looks to me were still on the drawing board to what happened to the 4th quarter, 2019 Litigation Trust Report. GLTA Class B LTU'S Holders
I believe your right that this virus is a super spreader. Looking at China it arrived quickly and disappeared quickly also. The world will look much different than it is today, in a few months. In the meantime be careful, because Covid 19 is a powerful illness, to about 1 to 5 percent who catch it.
I called epiq today and the person I talk to said he would make a suggestion to post docket #682. If they are not able to post it they would, call, e mail, or mail a response. So hopefully it will be posted today or we can get some answers soon. GLTA LTU's holders
Is docket #682 out and just not showing up on epiq ? The way the cash is flowing is another interesting question as you say. Hopefully we can get to the bottom of this soon and all ends well, in a positive way, for us LTU's Class B holders.
Wonder what this means for the Litigation Trust, if anything ? Still waiting for the 2019 Litigation Trust 4th quarter report, which I believe is docket #682.
Looks like all that oil storage space Mercuria acquired from Aegean Marine Petroleum Network Inc will come in handy now. Oil has fallen from over $50 per barrel,down to $22.29 today. No reason for Mercuria to sell oil at these prices now.
Quite odd, wonder if there was a reason or just an oversight.
I wonder if they will send the 2019 Litigation Trust, fourth quarter report to you ? At least what you got, is a start to normal operations. GLTA
Thanks for the update, looking forward for EPIQ getting back online again.
Thanks for updating me.
The problem with Docketbird is, they want you to subscribe to there service. If we subscribe to every service that comes along, our bank accounts, will get milked dry. Eventually someone will step forward with some answers. However your point is interesting at that, no one has shelled out the money yet. Hopefully that will change soon, or the free version will come out.