Exactly, the MLOG shares should still be on the books. If Mr. Sledge does not know anything about the shares, then shareholders have a problem. These assets were not "secured", so they should not have paid to YA Global to pay down any remaining debt. Maybe Sledge was put in charge to "only" pay DAC settelement fees to YA Global, and nothing more.
MLOG shares today are not worth much, so MOBL's debtors are likely not going to pay all the legal/court fees to obtain these shares. It is just not worth their effort and cost to obtain them. So, the real question is WHO has these shares?
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