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Post by scubasteve1319 on Mar 5, 2011 4:27:04 GMT -5
Hi everyone. I'm not sure if this has been answered before and there is just too much to go through to find out.
Back in December at the COG council meeting, I heard something that I haven't seen discussed. Maybe I heard wrong but perhaps some of the experts on here can tell me.
They said that when the bonds sell and they give the money to Hulsizer, if there is a lawsuit from anyone, Hulsizer could potentially walk away and keep the $100 million dollars.
Of course at that they didn't expect this kind of trouble from GWI.
Does anyone else remember this or am I completely wrong?
Thanks!!
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Post by urlacher4778 on Mar 5, 2011 4:34:56 GMT -5
yes that was part of the original agreement but i believe that the CoG has changed the agreement preventing him from being able to walk with the 100 million should the bonds fail or be contested in court
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Post by scubasteve1319 on Mar 5, 2011 4:58:59 GMT -5
Thanks. I was wondering why no one was talking about this as another negative to the deal (as if there aren't enough)
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Post by dlegras on Mar 5, 2011 5:05:13 GMT -5
I don't know if the agreement was amended on the case of Hullsizer keeping the cash. I think the reason why we haven't seen these bonds sell is because of that very reason. COG is worried about selling them and Goldwater sues and Matty keeps the cash.
I also think a high percentage on the bonds are keeping them from going on the market as well.
I don't know who on their good conscious could keep the money from the bonds if they go to court. To me thats like stealing.
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