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This is all fine and good however insurance will be used for much of this loss. Somebody is really missing the boat here.
Take a look at the recently filed 10-Q. There is mention of the settlement at issue, and the two other class suits. It says if the suits go against HGT then HGT will have to pay its share of 80%. There is no mention of any insurance.
I don't think so, the trustee at HGT said it will probably take around 18 months to pay off this settlement (depending on natural gas prices).
if XTO is our fiduciary (or whoever it is), would they not have to make up the losses (overpayments) for breech of duty and for paying out money they should not have paid out.
Perhaps XTO may have to make the initial repayment, but the trust would likely then have to reimburse XTO.This looks ugly. If all 3 cases end up being successful against HGT, we are talking about a $3/unit price. This thing won't pay distributions for years.The stub will have value and I give little credence to the R/P, which continues to grow year after year...but clearly, this thing is going to be taken apart if they lose all 3 cases.