We are about two weeks out from the next Litigation Trust Report.. So I thought, I would mention why I believe it may be awhile before we see any distributions, if ever..
...In the Third Quarterly 2020 Litigation Trust Report it states: Page 7, paragraph 9. As previously reported , the Litigation Trust Advisory Board voted to appeal( filed August 5, 2020 ) the decision of the United States District Court for the Southern District of New York (the District Court) dismissing the Litigation Trust's suit against former Aegean directors and officers Nikolas Tavlarios, Peter Georgioplous, John Tavlarious, and George Konomos to the United States Court of Appeals for the Second Circuit, a process that typically takes somewhere between 9 to 12 months from the date the appeal is filed.
...What we know is that, The Litigation Trust lost a key case for us Class B LTU's Holders.. Which could have led to large distributions to us Class B LTU's.. What we don't know is, if an appeal has been accepted by the United States Court of Appeals for the Second Circuit. Also the Litigation Trust Report did not mention the case # in which they lost and case # for the appeal..
..So we are lacking a lot of information which would update us Class B LTU's holders, as mentioned above, also how much is still owed to Class A, LTU's ,so we Class B LTU's can know how far back in line, we are for distributions.
...GLTA Class B LTU's Holders
