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This month of May, would be a good time, for Aegean to pay up. GLTA Class B LTU Holders
..Yes that was a good example of opportunities missed, due to foot dragging on paying out, on our Class B LTU's. It seems that there would be consequences and liabilities, due to the cost of our missed opportunities, this past year or so. Aegean former Owners, Directors and Accounting Firms need to pay up now or have the debt, owed to us, double or tripled in a little while. GLTA Class B Holders
.. Penalties for corruption are brutal in the USA. Many wealthy, globally have have become penny less, due to USA anti-corruption laws. GLTA Class B LTU Holders.
...Interesting article from April 2021, last month. Dimitris Melissanidis hit the headlines in Greece, could face a football lifetime ban in Greece
(a national pride ).
..Also faces MAJOR issues in personal and business life, with a new case filed in New York, USA about his stolen 300 million cash and assets from Aegean. Also made false public filings, false financial statements and had false audit opinions made .
..Dimitris Melissandidis cannot find a rock to hide under in his own Country. Might as well pay up and enjoy his Golden Years. Better to do that, than have to pay triple damages. GLTA Class B LTU Holders
That would be a good track to be on and place to go. GLTA Class B LTU Holders
... Month of May is here. It should be about, 2 weeks till the First Quarter Litigation Trust Report. GLTA Class B LTU Holders.
Yes I would like closure also. We need to keep in mind, that a fast pace can mean a year or two. My wish, as well as all of us, is that we could start, getting HUGE distributions this year and for many years to come, as the lawsuits are settled. GLTA Class B LTU Holders
...The Shareholders were robbed long ago. Aegean was listed on the New York Stock Exchanged before these crimes were committed. If Aegean was properly managed long ago, as Tyler Baron and many others were led to believe, Aegean would most likely be a $50 or more, per share stock now. There has been a lot of damage done here. So regardless of any recoveries made for us Class B LTU Holders, it will never be, what it could have been. The new owners Mercuria have up righted the ship and have the ability to salvage recoveries for us Class B LTU Holders. So we wait and hope for speedy solutions. GLTA Class B LTU Holders.
This is just a HUGE CASH COW, building steam, getting ready to blow. The old Aegean Management and business Associates can't find a rock to hide under. The new Mercuria / Minerva Bunker team just want to make a clean and fair deal. GLTA LTU Holders.
That would good news to have this moving along at a faster pace. Seems that the former Accounting Firm and two Directors could be liable for much more than they took. Can we say triple damages. Heck I would even take monthly or quarterly payments as a settlement. Also good to hear Mercuria is as anxious to get this over with, as we are. Heck I would even take shares of Minerva Bunker, if Mercuria wanted to spin it off, to get their profits and included our Litigation Trust Units (LTU) for a fair price. Anyway it's good to hear Mercuria has got the pan, pot and oven cooking. Looking forward for something good to come out of all this. GLTA ... LTU Holders
I don't have much of an idea of the time wise for our distributions, just hope the distributions are HUGE, so that it will be worth the wait. GLTA LTU Holders..
I believed we all missed that one. It certainly looks to be good news for all the Class B LTU Holders and the article is recent at that, March 30, 2021. Thanks for the insight makinezmoney.
It does seem quite odd that former Aegean officers , directors , and whoever else could raid Aegean funds without any liability. Imagine if all of our large listed New York Stock Exchange Companies drained out all of the cash there Companies had and the Courts allowed it, which seems to be the case here. So something seems to be seriously wrong here, which we hope the Litigation Trust can correct for us and the United States Courts take corrective action as you say. GLTA Class B LTU Holders.
The jurisdiction issue seems to be key alright, and a cause for for an appeal. How they can get any traction on the jurisdiction issue, I would imagine the Litigation Trust has a plan, because an appeal was made right away.
..The Marshall Island case looks to be going like a breeze and hope others do as well also. I believe we will need to win all of our cases to get any significate amounts of distributions. Seems to be a little difficult as of now, but not impossible. My hope is the Litigation Trust can find some smoking guns, to turn the tables for our Class B LTU's favor. Hopefully all the future Litigation Trust Quarterly Reports will be more revealing and have a more positive spins on them, which will lead to our distributions. GLTA Class B Holders
I was able to read about the original dismissal on DocketBird, when I went back to print it and reread it was no longer there. So I would imagine it is available to some, such as attorneys What I noticed on that case, was the Judge decided that it was out of the Litigation Trust Jurisdiction to try the case in the United States. Judge Naomi Reice Buchwald also mentioned the defendants never visited the U.S. to do business, just one non related visit. So what the bases of an appeal is hard to imagine, but one was filed right away, so the Litigation Trust must have felt there was a need and reason to take action.. So what happened on February 25, 2021 is also of interest to me.. GLTA Class B LTU Holders
Just trying keep things alive here, while we wait for the process to work at a snails pace. Enjoy the weather as it continues to get better. May all be well with family and friends. GLTA Class B LTU Holders
Docket #744 was post Aegean bankruptcy disbursements of 359+ thousand dollars. No details of where the money went, but it does look like the post bankruptcy is winding down..
The Litigation Trust First Quarter 2021 is having some activity. The Grady Action Jan. 13 2021, Duplicate Claims Feb 5 2021, appeal Feb. 25 2021, U.S. District for the Southern District Court of N.Y. , case dismissing the Litigation Trust suit against former Aegean directors and officers, Nikolois Tavarios, Peter Georgiopolous, John Tavarios, and George Konomas to the U.S. Court of Appeals of the Second Circuit... March 9, 2021 Duplicate Claims. The Litigation Trust First Quarter 2021 should have some news ,and updates coming out in about 5 weeks May 15, 2021. GLTA Class B LTU Holders
All's quiet on the Aegean Front. Hopefully it's the calm before the good news. GLTA Class B LTU Holders
Enjoy the humor. Would be nice if the Litigation Trust could have an annual meeting for updates and a question and answer session, with online viewing for Class A and B Holders. GLTA Class B Holders
To early to tell. The Litigation Trust has frozen assets on the claims it is pursuing and lawsuits worldwide. There is a significate amount of money at stake, which is why there is a Litigation Trust with 15 million dollars to pursue claims. GLTA Class B LTU Holders.
The Litigation Trust has total liabilities of $18,173,180.85, which is mainly a 15 million dollar loan, with a 3 million dollar fee attached to it , totaling 18 million dollars..
..The total assets are $15,539,845.57 , which $4,223,493.86 is disputed claims reserves and $11,316,351.71 is the remaining litigation trust loan.
..Subtract the Litigation Trust liabilities from the assets , you have a negative net worth of $2,633,335.28. Yes as of now at the end of the year 2020 The Litigation Trust owes more than it has cash in hand. That why I say the Litigation Trust needs to start collecting our money NOW, we're way past due in receiving our distributions. GLTA Class B LTU Holders.
Looks like our Litigation Trust has a negative net worth of $2,633,335.28, for the year ending 2020. The Litigation Trust needs to start collecting our monies soon, that is the whole purpose of having them. GLTA Class B LTU Holders.
Sounds like a cross between a bunny and a dummy, but hey, what do I know.
10 or more is fair in my book.
Yes around May 15
Better for this to drag on , then to get nothing. We need to find a way to get what was taken from us. Hopefully the Litigation Trust has found a way. GLTA Class B LTU's
Sure I understand. However there must be a way for Class B LTU's to get recoveries, after all that has happened.
That would be interesting. Mercuria returning the Company back to Aegean per Greek and International Law. Mercuria restoring Shareholder NYSE listing, pay damages to Shareholders. GLTA Class B LTU's
Keep looking and find someone who can do something for our side. GLTA Class B LTU's
Have to agree we should have been be paid by now massive sums, with all that's going on with the markets, what Aegean stole from us and what they are making now.. Looking at older posts in May 2019 many believed, we were due for a payment any day. We are long past due for our $$CASH$$. GLTA Class B LTU's
For Mercuria nothing is impossible in this situation, so tossing some ideas around for them to look at. For the most we're waiting for the Class A LTU's to get paid. Then we can move on to us Class B LTU'S ..GLTA
That was an interesting article from 11-27-2020. Not to old, at that . I think Mercuria ought to convert the 53 million Litigation Trust Units( Class B LTU's) into 53 common shares on the NYSE. That would cement the new deal. Regardless thanks for the news.
vagelis anymore news out of Greece where you work by the old Aegean offices.
It seems to me if Melissanidis sold shares to Aegean for $8 per share and then stole the funds from Aegean, that the monies would have been returned by now. GLTA Class B LTU Holders
Your former calculations do show how much risk former shareholders and the value of good companies and management are. One would hope that the Litigation Trust will find a road to full recoveries to Class B LTU's or that Mercuria will consider using profits from Minerva Bunker (fka Aegean Marine Petroleum ) to make things right.
Your former calculations do show how much risk former shareholders and the value of good companies and management are. One would hope that the Litigation Trust will find a road to full recoveries to Class B LTU's or that Mercuria will consider using profits from Minerva Bunker (fka Aegean Marine Petroleum ) to make thing right.
Docket #739 was filed on a Saturday. Love it these Dockets keep pouring out. Gives us a better chance of learning what's going on, when the Litigation Trust Quarterly Report comes out, on about 5/15/21 or good news sooner GLTA Class B LTU Holders
Another interesting thing about a case for $10 or more, per Class B LTU. Mercuria owners and Tyler Baron own well over 50% of Aegean Marine Petroleum Class B LTU's. By paying out $10 per LTU they actually would be paying less than $5 per Class B LTU. I'm sure some may frown on large distributions, but in reality it is what is due to us Class B LTU"s. IMO
Have to agree that Aegean has water down, pissed on equity interest. They need to pay up $10 or more per unit, to make things right. GLTA Class B LTU Holders
Docket #738 is showing 9 Claims reclassified as Aegean interest. Reason for reclassification , claim is based on equity interest... 28 Claims to be Disallowed and Expunged, Reason for Disallowance, Claim is duplicative of Unsecured Notes Claim pursuant to the Plan. 11 Claims to be Disallowed & Expunged, claims does not contain sufficient information to determine validity of claim. Docket #738 cleaned a total of 9+28+11=48 claims disallowed, because they are duplicative, lack sufficient information, or base on equity interest. Another feather in Class B LTU Holders cap.