The only thing weshare holders can do is to ensure no one from the management including the UK Directors who have resigned do not get there hands on MHL/VIP to buy out and benefit
Your description is on Target. I Spoke with the Trustee for ECIG Chapter 7 yesterday....They do not expect any distribution from the Sale of VIP. The administrator for VIP also confirmed there will be nothing to distribute to ECIG form VIP sale.
Trustee for ECIG was told that Calm Water was suppose to write the check for the $3mil Tax Debt and decided he was done writing any more checks and let it go into Admin. He was also told told that they initially assumed VIP would be worth $50-100 million but the bids are coming in at a much lower figure $26-30mil.
According to his information Calm Waters is not one of the companies bidding for VIP. I do not know who is at this point.
Another bit of info is that apparently management asked the bankruptcy attorneys if chapter 11 was an option and there was just not enough money to go that direction.
I was and still am very suspect with the order of events here. We will see who ends up buying VIP.....maybe BAT??
There is no ECIG comeback here in my opinion....there will be nothing left!
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