I posted a few days ago and was quickly shot done as not knowing what I was talking about and I agree that I'm not knowledgeable on the process. I lost $17,500 and it's been killing me to continue to wait and wait only to get small golden nuggets of hope along the way with no results...
Just now I called Kevin Zuzolo from Akin Gump Strauss Hauer & Feld LLP, here's what he had to say.
1) No recoveries have been made so far, the only money in the trust is that from a loan to fund the litigation process
2) He believes the likelihood of recovering all 290,000,000 in claims is very unlikely
3) Time frame- he could not say but he said if we received anything he could see it taking 3-5 years
I asked him this: "in a non lawyer way, as a person can you give me your opinion on the likelihood of receiving any recoveries", he said its very unlikely. This is the guy who is in charge of fighting for us and he does not believe common stock holders will see any recovery.
Anyway there's plenty of fluff on this board and for me its more painful to keep up the hope, checking back in here every so often only to see the same ol' story... That's all.
AKIN GUMP STRAUSS HAUER & FELD LLP
Attorneys for the Creditors’ Committee
One Bryant Park
New York, NY 10036
(212) 872-1000
