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Gold/Mining/Energy : ATPG Shareholders
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To: DHR1 who wrote (138)8/29/2012 8:58:33 AM
From: mrpanick  Read Replies (1) of 3620
 
You may be able to find a law firm willing to do the initial work for free in exchange for a shot of collecting millions (without exaggeration) in legal fees if they are appointed by the court as counsel for the official equity committee. Bear in mind that:

1. ATPG Pays Fees for EC
Once an equity committee gets appointed by the court then ATPG would be required to reimburse the lawyers for their legal fees, expert witnesses, consultants etc. This is a real gravy train for a law firm given that ATPG just got a 600 mil DIP. This is a complex case that will go on for a couple of years. They could collect 10 mil in legal fees altogether and it's a high profile case. The right law firm should do the initial work for free if they believe they are likely to succeed.

2. Shareholder Support
You would be able to provide a long list of holders to the law firm. They might want letters as well. I think this stuff is important for hepig them to get appointed. Even if some hedge fund comes forward separately with their own legal team, based on the shareholder support from this message board the law firm selected here would probably end up co-counsel for the EQ and split millions in legal fees with another firm.

Maybe I'm wrong and these guys all want to be paid up front despite the fact that we are giving them the opportunity to win millions in business for their firm. It wouldn't hurt to ask them to do it for free though. Be sure to mention the 600 mil DIP that ATPG got and watch their interest perk up - LOL.
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