Thanks, ancient one. I did everything right the first time, just as Jazz advised, but haven't heard a peep. I will now use the phone numbers so kindly provided by Jazz to call and make loud squeaking noises. I have heard that the squeaky wheel gets the grease. Maybe I can help myself along.

thelongrunner

This is a selfish post and I am looking for direction; I have written by email to Cohen and Contractor at Gowlings regarding my wish to opt in and I have received no reply. I wrote Cohen slightly more than a month ago and I wrote Contractor last week.

I am grateful for any suggestion with exception to anything involving my rear end.

Thelongrunner

Yes, Don, you have a point, and I will corroborate that, back in the day, when you know who was king of the board and had what could be described as a cult following, you didn't have to say very much critical at all, in fact, all you had to do was be analytical as opposed to blindly optimistic, to get yourself banned. It was crazy!

One day, the king and his cult left and started another board, and the banished, well some survived to think and post again.

thelongrunner

So where ARE the Expendables, when you really need them?

thelongrunner

Good points and discussion here.

Tenor gets 70.55% of the Net Arbitration Award. But all the debts, claims and notes get paid first.

I haven't done the math, but if you wish review the priority of distribution it can be found in the Tenth Monitor's report, clauses 42 and 43 in our Link Library.

If there were and award of, say, $2 Billion, and there were aggregated costs, debs and loans of $200 million off the top, that would leave 1.8 Billion. If Tenor gets, 70.55%, then shareholders share 29.45% or, $530 million. We have 419 million fully diluted shares outstanding. That translates to $1.27 per share.

If our Arbitration Award were a generous $3.3 Billion then, by the same math, shareholders would be left to share $913 million or, $2.18 per share.

Someplace between $1.27 and $2.18 per share might be our Award range.

What do ya'll think? Am I anywhere close?

thelongrunner

Those words sound sweet, and I do hope you are right. However, a few months back I did some research around ICSID enforcements and did not have a satisfactory result. It appears that there is no effective mechanism for enforcing judgements.

If you are suggesting that the cargo of those vessels delivering to the US could be seized under a lein or some other legal mechanism, then I believe it would be a precedent.

In any case, if the Yanks could take control of 10 to 20 ships, I hope they would be sharing the loot around to us non-US shareholders up in Canada, other wise we might have to shut off their water!;~)

thelongrunner