Hi LG, thank you for your always positive posts. I know you can’t speak specifics about the possibilities on or before 7/21… but this question….
What do you think about Boris the Spiders post last week concerning the statute of limitations? I am pasting it below… Thank you.
From Boris
So, on the statute of limitations in Sept...
The reason that they previously said no settlement could occur while there was potential for litigation, could explain why no distributions could happen.
Now stay with me here...it could be why the hedgies haven't pursued legal action and have remained quiet. They knew that they had to wait for this 15 year period to pass. Those who did not release, plus the employees who lost their jobs, could have sued if disbursements were made before the 15 yrs was up. Now, once the 15 years passes, disbursements could happen to the hedgies and escrow holders without the encumbrance of a multitude of lawsuits from the employees and non releasers.
This could explain why nothing's happened. Once the statute passes, any funds can be distributed without legal action from those other parties.
Think about it. Makes sense. Even if you don't believe in the hundreds of billions in assets, it's indisputable that there is ~$30B sitting on the sidelines for escrows. Let's see how this all plays out. But the silence of the hedgies has been deafening. This may be why.
Also, remember, escrows were not issued till 2012. So this 15 year period does not apply to escrows in 2023. If funds are not disbursed after the Sept date then law suits could commence from the hedgies.
It's a hot mess, but this could make sense.
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