Can someone give me a thumbnail sketch of LFGRQ?
I have read through the iBox, and here is what I see so far:
-there are net assets substantially in excess of liabilities
-there is some question (court case) regarding whether some portion of those assets are truly "company" assets (to be used to pay off liabilities with excess being the value available to common shareholders) or whether this portion of the assets are in some way "reserved" to specific customers
Here are my specific questions:
--has someone done a pro-forma valuation indicating what amount of assets are in question in this court case, and which "residual" assets are not in question? In other words, if the court ruling were to go against the LES intervenors, and those exchange assets were reserved each to the customer involved (do I have this right?), how much would be left to net against liabilities? What is the net assets figure, assuming a court loss, per share? Looks like they have sold certain businesses to Fidelity and that there may be substantial value in THOSE assets and proceeds even if the court decision goes against shareholders.
--do we have any visibility into timing of court decisions?
--is there any precedent regarding resolution of asset ownership in cases like this?
Thanks!
If I could afford to buy all of them, I would not need to buy any of them and I sure wouldn't be spending time on the message boards!
