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If we vote no i feel like the company will be stuck in this situation without being able to move forward but if we vote yes then it gives the company a chance to pick itself up at this point we do see that moviepass is tryn to make changes from bringing bak its 10 dollar unlimited to creating movies finding ways to bring in more income
It sucks i do feel the pain cuz i lost so much from this shit and hoping to get some bak what do u guys think i have not voted yet but im leaning towards vote for it
Why has it been so quiet its unsettling there will be a hearing on may 21 thats the only news i see so far
bro for reals at least give us the first round sowei can confirm more is coming haha and yes i need to make more moves when it is available
Things seems very quiet since the 1 dollar situation i wonder if anything has changed since then
does anyone know anything bout this ?? Something dealing with simco vs anwwq
New filing in In re Aegean Marine Petroleum Network Inc. Securities Litigation: NOTICE OF CHANGE OF ADDRESS by Ira M. Press on behalf of Silverback Opportunistic Credit Master Fund Limited. New Address: Kirby McInerney, 250 Park Avenue, Suite 820, New York....
what do u mean by real shares and share owners?? arent people who are holding the share right now considered shareowners and the escrow shares are from anwwq it was just converted to the new cusip number which all shares have including mercuria which hold 14 mil of it
the thing that happen this morning with the 1 dollar people who saw the change was people who recently bought it. i have both but im praying its for both which i believe it seems like it.
Jakeac44 i heard u can transfer stock to others if thats the case and u feel that way then hit me up i take it off ur hands for a price how much u got ?
lol they said its a glitch ?? like really a huge platform like td ameritrade causes glitches like that ?? if its to 1 person yea maybe but it was to alot of people i assume which makes it seems like they just said it just to move on which make the situation hella sketchy
What did u ask?
They themself cant tell u anything cuz info is unclear they ate not gonna hype u up cuz if and maybe
People here are actually doing some research and gathering info on what we read dont get me wrong i gave all them a call too and guess what they told me ... u will prob lose everything ... i was bummed out and started doing my own research to find out there was still hope and at this point it seems very likely that there is
Thats great news to hear im hoping the same
Best wishes to u since u always have great info to share a d to everyone else holding shares with anwwq i am hoping to see much more hood things happening its very exciting moment
The hype was too real lol here comes the dip
How much share was he holding onto?
Ive seens ur post lately thanks for confirming
So u do see the 1 dollar transition
Holy u got 4 mil dang hells yea u will be tiptop after this one
Can someone that post here often confirm that they actually got 1 dollar so far??
dang if this is the case i really want to see wat is possible in the future ... does all of these have to be over 267.1 as well ??
yea i still feel like amex only roughly estimated how much they actually increase the litigation and also the unsecured that total 267.1 may or may not chnage so that also will affect the outcome as well but overall the result seems to be very promising
IMPORTANT UPDATE!!bold will be my comments and the statement will be from docket #555 please keep in mind i might not translate this correctly so if i am wrong feel free to correct me. thanks to amex they made this negotiation happen and the deal was made
-Amex helped negotiate the Restructuring Support Agreement, general unsecured creditors of Aegean were entitled to receive
$40 million in cash on the Effective Date and 100% of the proceeds of what is estimated to be
approximately $300 million in litigation claims
for this part i believe the 40 mil goes directly to aegean and it seems like they still get majority of the 300 mil as planned
-According to the supporting filings,
the sale would add $681 million in value for the Reorganized Debtors’ estates through a credit bid, assumed liabilities and a small amount of cash.
im not sure how much they paid for aegean but the way i see it here is that they only have to pay a small cost (around 300+ mil of litigation claims) to gain an extra 300 mil from assets in aegean
-As part of the proposed sale, Mercuria was to obtain (for virtually no
consideration) over $300 million in litigation claims4 arising out of the fraud that precipitated the
filing of the Reorganized Debtors’ cases, and recovery for general unsecured creditors at Aegean
was uncertain. Sale Motion.
once agreed to purchase mercuria became responsible for the 300 mil litigation claim (just know that mercuria already accepted the deal and will pay unless they back out of it which is now unlikely)
-The Plan obtained nearly universal
creditor support and provided for, among other things: (a) payment in full in cash of all administrative and priority claims, (b) payment in full or the reinstatement of all secured claims,
(c) payment in full in cash of all unsecured claims at Reorganized Debtor subsidiaries of Aegean, (d) payment of $40 million in cash and 100% of the net proceeds of the Litigation Claims until
paid in full to the holders of Aegean Unsecured Claims, and (e) after the Aegean Unsecured Claims are paid in full, holders of Interests in Aegean to receive the remaining 100% of the net proceeds
of the Litigation Claims.
it seems like our litigation claims was increase by 40 mil to 340 mil because they will be paying 40mil in cash ontop of the 300 mil so if we have the 340 mil - 267.1 mil of unsecured = 72.9 will remain to the aegean holders which is share holders i think this would confirm it "Importantly, the fees and expenses would be funded on top of the $40
million in cash slated for the general unsecured creditors and would, therefore, not dilute any
creditor recoveries."
-The fees and expenses sought in this Application are reasonable, and payment of such fees and expenses from the Reorganized Debtors (Mercuria) is appropriate under the circumstances. Such payment will not impose any burden on Aegean’s unsecured creditors, yet
will acknowledge the significant value to the estates created through the efforts of Amex and its
counsel.
none of the amex fee and expenses will be involved with the now 340 mil that belonds to us mercuria will pay them separately
-Without Amex negotiating alongside the Committee professionals, this case very
likely would have resolved with the initial Mercuria deal proposed at the commencement of this
case—a section 363 sale of all of the Reorganized Debtors’ assets without fair value for the over
$300 million in litigation claims and uncertain recoveries to general unsecured creditors. See Sale
Motion. Instead, the Restructuring Support Agreement led to a now confirmed and effective
Chapter 11 Plan that includes: (a) payment in full in cash of all administrative and priority claims;
(b) payment in full or the reinstatement of all secured claims; (c) payment in full in cash of all unsecured claims at Reorganized Debtor subsidiaries of Aegean; (d) payment of $40 million in
cash and 100% of the net proceeds of the Litigation Claims until paid in full to the holders of
Aegean Unsecured Claims, and (e) after the Aegean Unsecured Claims are paid in full, holders of
Interests in Aegean to receive the remaining 100% of the net proceeds of the Litigation Claims.
In approximately one month of negotiations, Amex and the Committee increased the recoveries to
unsecured creditors of Aegean by at least $25 million in cash proceeds and proceeds of Litigation
Claims potentially worth $300 million.
here is what amex did and also it seems like amex was also able to add about 25mil ontop of the 340 mil that i mentioned earlier so i believe it is now 365 mil in litigation - 267.1 mil unsecured = 97.9 mil which leaves us with, so share holder will recieve 97.9mil / 53mil = 1.85 per share for all aegean share holders these number can change depending on the roughly estimated 300mil that the claim originally was file and also the extra 65 mil was me putting what i read together so i might not interpret it correctly so if im wrong let me know
LET GO ANWWQ
Seems very likely
Doesnt seem like we are getting anything near 3 per share but i can be wrong imma take a look at it again tomorrow see if i can pick up anything else from what they gave us so far
It does mention something above 300+ mil but when u say mercuria will pay for all unsecured claims does that mean the 300 mil belongs to all shareholders ??
300mil / 53mil share = $5.7 per share
So at this point is 267.1 still be part of the equation becuz it seems like amex might have increased the value from 300 mil to somethings alittle higher but at the end of the post it mentions tens of millions so it made it sound like something near the 1 dollar per share so far it havent mention any numbers beside the 300 mil that we already know of. We are just waiting on the exact number per share which they have not put out. And also where did 94.6 and 172.5 mil come from i cant seems to find that please clarify thanks but yes we are for sure getting paid
General Unsecured Debt
4.00% Convertible Unsecured Notes due 2018: $94.6M
4.25% Convertible Unsecured Notes due 2021 $172.5M
Total General Unsecured Debt: $267.1M
Go anwwq
its docket 555 its best if u take a look at all of it
the info i got was from pg 16-17
need help understanding what this means how does the numbers add up and what is left for us... it does mention that what ever is left over will be for the holders, does the 40 mil and the 25 mil add onto the original 300 mil??
(a) payment in full in cash of all administrative and priority claims;
(b) payment in full or the reinstatement of all secured claims;
(c) payment in full in cash of all unsecured claims at Reorganized Debtor subsidiaries of Aegean;
(d) payment of $40 million in cash and 100% of the net proceeds of the Litigation Claims until paid in full to the holders of Aegean Unsecured Claims, and
(e) after the Aegean Unsecured Claims are paid in full, holders of Interests in Aegean to receive the remaining 100% of the net proceeds of the Litigation Claims. In approximately one month of negotiations, Amex and the Committee increased the recoveries to unsecured creditors of Aegean by at least $25 million in cash proceeds and proceeds of Litigation Claims potentially worth $300 million.
Important news !! please read and help me understand what is happening but it does look good tho
[tag]https://dm.epiq11.com/case/AES/dockets [/tag]
Ive held this stock for a couple days but when i sell today it boosts up... this happens all the damm time
Yea we are waiting to see the change in our accounts and please oh please 3 dollars or above
Awaiting change
Lets go anw
What happen to hmny stock
My td ameritrade indicates that the price is 0 its no longer showing .003
Why do u say friday?? Ur the second person that mention friday haha just wondering
I hope its friday too lets get that 2-3 dollas $$
Are they tryn to get back on the NYSE market again if thats the case it would be a good start
so we expect another r/s, and can they even do it without the holder approval?? what does this mean for us as holder it seems like the price will just drop again without any evidence of company even improving in anyway
All dockets are being finalized it seems we are close to getting our results
https://dm.epiq11.com/case/AES/dockets
go anwwq
man if that was the case its like waking up knowing u won the lottery i really hope so
So is this financial spin off a good thing for the company or a bad thing
I give this company props for not giving up even if they did shareholders dirty what more can they take
if they are hiring new people it must be some reasonable plan to keep this company active and move forward i dont know this company is confusing and clueless but i hope these new financial committee is not here to bail them out and take as much wid them as possible
Lets pray they have new plans in store
makinezmoney thanks for making it clear and thanks for providing great information keeping everyone up to date its been so helpful
lets go anwwq !!
base on vagelis news link
it seems like mercuria has already move forward with their deal, seems like there will be no going back. mercuria will take over anwwq and they will fight for aegean the way i see it is that even if greece deny the BK mercuria will do what ever it takes to have this company because it is a crucial part and a great asset to their company .. going forward we will see some new news popping up.
my question is will all share holder pre and post BK get the litigation trust units i hope all share holders will get a pay for what they hold
Good luck everyone
go anwwq
Markets going wild for this stock rn gonna see it rally after hrs again and its gonna continue to rally until the presentation and if the presentation reveals good news about the progression of endoxifen it will soar ... cant wait to see this