SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : TRINITY GAS CORP. [TRGC]
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: sedahS who wrote (806)5/16/1998 7:23:00 PM
From: Pete Schueler  Read Replies (1) of 1081
 
It sure seems like we're being taken on two sides now. Sid's taken the Colombian concession and Seals is mopping up the rest with fees. Maybe Seals will float some more stock to keep the meter running. We need a shareholders committee that can watch the till. We're being robbed blind. Here's the clue:

"Shortly after his appointment in January, 1998, the
Trustee assembled (from the funds sequestered by the SEC)
approximately $600,000. The Trustee*s primary counsel
recently submitted a statement for services rendered in
connection with the Trustee*s efforts through March 31, 1998
for approximately $345,000, including expenses. The
Trustee*s counsel agreed to defer its request for
compensation of 15% of its fees. Pursuant to a procedural
order entered by the Bankruptcy Court, the Trustee has issued
payment to his counsel for all expenses incurred and 80% of
fees and expenses incurred less the 15% deferred amounts --
approximating $250,000. The Shareholders Committee is very
concerned about the amount of professional fees incurred to
date by the Trustee*s professionals. As a result of that
substantial fee request, which does not include Trustee*s
counsel*s fees and expenses incurred during the months of
April and May, the Shareholders Committee has decided to file
a plan of reorganization for Trinity USA and seek to have it
emerge from Chapter 11 as soon as practicable. To that end,
the Shareholders Committee is presently working to
assemble a comprehensive plan of reorganization and
disclosure statement for the shareholders* consideration."
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News