LL&E Royalty Trust (fka LRTR)

[LLnEorBust]

Well, that's where it gets... tricky. It's a confidential settlement and neither party has disclosure requirements (LL&E's registration was revoked by the SEC 10 years ago). There's another transcript in SDNY unsealing at the end of June, but I doubt they'll say a number on the record. I do have one other potential source--don't want to say exactly what, in case someone's reading this, but it's a bit of a quirk unique to the asset owned by the Trust, and one the attorneys for both parties are likely unaware of. If it pans out, I'll post it here.

A trust has no capacity for self-governance, so you're correct in that the Trustee would be responsible for directing a distribution of the settlement proceeds, less legal fees. Roger Parsons is General Counsel of a private investment firm (CITG Capital Partners) headed by an individual (Bela Mehta) who owned, at the time of the Trust's last filing, a plurality of units, and initiated the proxy. Mehta is firmly in the driver's seat on the lawsuit. Since I last visited the CITG website a few years ago, it's been replaced by a single page with only a short description.