What I am seeing is that on the effective date I.e 4/3/2019, a sim of $40m was funded by Mercuria as “loan” to Litigation Trust to create Aegean Unsecured Claims Cash Pool. The amount remained in this pool as of 12/31/2021 is at $14.3M after having paid out Allowed Aegean Unsecured Claims prior to the effective date or after.
Of this $14.3M, a Dispute Claims Reserve is at $4.18M for the benefit of holders of Aegean Unsecured Claims that were not allowed as of the effective date. However, the Negative retaining earning as of 12/31/2021 of $1.744 should be offset and additionally the LT Funding Fee payables of $3M should also be offset against this reserve. That would take the reserve down to negative of $0.564M which means none of the remaining Aegean Unsecured Claims would get anything at all. In fact, the LT funding fee liability as a result will take a hit to the extent of the negative 0.564M as of 12/31/2021 or whatever that sum be when the fee gets settled.
Therefore, the funds available for a potential disbursement to LTGBU holders technically is at $11.85M after settling the Accounts payables of $17629. However, please note Mercuria had given a loan of $40m on the effective date and let’s hope in all practicality that the remaining $11.85M will not be taken back by Mercuria.
Do anyone know exactly the number of outstanding shares (leave out the number of shares that belonged to all those who have been accused of having committed a fraud). $11.85M should be divided among that number of outstanding shares as the potential payout for each share.
This is going by the numbers on the quarterly report alone and not taking any sum that LTGBU may get if and when the cases against the defendants are finally won by LTGBU owners.
