Judge David R. Jones is not shareholder friendly. I thought he was in Houston, but I guess the southern district of Texas also includes Corpus Christi. Anyway, study his rulings.
On March 12, just a few months ago, he screwed McDermotts shareholders over real good. Even overruled the objection of Sonia Chae/SEC. She obviously knew that dickson (CEO) and spence (CFO) were shady frauds and made public statements that were lies, with regards to the companies financial health in late 2019. Begging big shareholders NOT to sell, telling them 'everything is fine.'
What did Jones say? "Shareholders lost their money a LONG time ago." The SEC wont be on your side IMO, and it wouldnt matter even if they were.
One confirmation plan hearing was all Jones needed to rubber stamp the debtors' reorganization plan, wipe MDRIQs debt clean, and let the same frauds stay in place with over $105 million in bonuses and 'new' shares awarded.
MDRIQ old shares are still at 4 cents. Welcome to what will likely be a preview of your future with Jones presiding over this CH 11 case.
Oh, and Jones did tell the objecting shareholders post-facto,,,,'feel free to appeal.' What a dick IMO. He knows that will take years and not likely go anywhere.
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