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fredmiller1999

06/07/18 11:54 PM

#521562 RE: Ray137 #521561

Because this is a direct ownership of an indivisible assets you own.

How can a company you own pay you?


How about a check?.....
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jerrylev

06/08/18 1:24 AM

#521566 RE: Ray137 #521561

Zai2, the problem with asking KCC to update your address right now is that they will reply to you that there is no money and there is no need to update your address or talk with your broker. They either don't know that we will receive money or they have been told not to say anything. Some people on IHUB said that they call KCC and KCC told them to contact the broker for address change and they have no money to distribute. But the brokers only have the escrow CUSIP for the purpose of distributing dispute shares only and not for distributing money.

So you have to wait until the time when it is publicly announced that escrow will be paid to contact KCC to update your address.

The trust unfortunately hides behind KCC and if you contact them then they will tell you to contact KCC.

All of the above happened to PIERS for which there are about 50 millions to be paid.

But when it comes to pay escrow, we are talking about billions. Even if we get a measly pay, it is still at least 2 Billion and potentially 40 billion. I don't know if KCC has the logistics to handle that kind of money. I think the trust will have to use a bank as bridge bank to distribute the money.