Replies to post #2344 on Hercules Offshore Inc (fka HEROQ)

[mike_dotcom]

Well, there were new directors named to oversee the bankruptcy so imagine they'll soak a paycheck for a few months.

[mike_dotcom]

I don't think they're going to give us our money this month. Maybe next month. Maybe next year. Maybe never.

[mike_dotcom]

I don't think we're going to live long enough to ever see a penny out of this.

[mike_dotcom]

Just like I predicted - the new board members have to soak a paycheck for a few months - or years.

[mike_dotcom]

NOTHING THIS MONTH. MAYBE IN ANOTHER YEAR OR SO. THESE NEW BOARD MEMBERS HAVE TO SOAK UP SOME FREE CASH.

[mike_dotcom]

I guess we're never going to hear from these guys again.

[mike_dotcom]

Well, it looks like we're finally getting a distribution - $20 million. "Pursuant to the Plan, future distributions, if any, to holders of the Wind Down Entity Interests
will be paid only to the extent of available funds and if declared by the Trust." Notice the "if any" part. Me thinks they have other plans for the remaining $100 million.