NaturalShrimp Inc (SHMP)

[MFranny]

Steven Walker was served because he's the company's registered agent. It's just a procedural requirement and should have no significance on subject or substance of the case.

The Judge issued the TRO and because NSI did not object to the TRO, the permanent RO was a foregone conclusion. For all intents and purposes NSI's management has conceded Streeterville's case. NSI is in the hands of Ampleo for management, for good.

Ampleo's job will primarily be to windup NSI's operations, bringing in as much value as possible to pay off creditors. Any value remaining after creditors are made whole will go to shareholders. Therefore, a receiver does owe common shareholders a fiduciary duty to maximize the value of a company and secure the greatest value possible for its assets.

I would argue that the 8K for the TRO is sufficient and no further notice is required. My reasoning would be that when one had sufficient notice of when and why the TRO was issued, modification of the TRO into an RO is not really a material change. However, I would expect that any further material changes to NSI's business, such as sales of real estate, would require Ampleo to file an 8K, but that's just my opinion.