Tuesday, March 06, 2018 10:50:59 PM
Just my opinion here:
Delek failed to send notices to existing ALDW unitholders indicating that all distributions were to be canceled as of such-and-such date. This, then, would logically lead to one's assuming it's business as usual. I view it as deliberate fraud. Hurricane Harvey forced the shutdown of nearly all Houston, TX. refineries with the exception of ALDW which was not impaired at all. It was for this reason that the media painted glorious pictures of looming prosperity bringing unitholders to expect hellacious distributions for WE and Q4.
Q3 paid less than half the amount expected. Q4 was not only unpaid but there wasn't even any guidance explaining this. Nor was this year's non- payment addressed.
I'm still shocked. And disgusted.
How we feel is not worthy of inclusion on the complaint form. That there was no guidance at all is a key item inasmuch as variable MLPs ALWAYS declare their payout intentions or denial of same. After all, MLPs must hand out 90% of their profits. DK says they're not paying but I doubt they dissolved the MLP status of ALDW assets received prior to the February 7th signing.
These, I hold, are totally valid issues we need to stress. Pete807 will a lot to this, I'm sure, as will others.
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