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Hugoton Royalty Trust Message Board

  • neilfe99 neilfe99 Feb 20, 2013 1:13 PM Flag

    HGT Litigation Timeline

    As mentioned previously, the arbitration has been pushed back to October instead of May (see below from latest press release on 2/15/13.....Does anyone know if there are any other arbitration procdedings that might come due before this - that will be extrapolated before October I AM SURPRISED STOCK HAS ACTED SO NEGATIVE TO THIS NEWS - at worst - it just means 5 more months of normalized dividends for HGT - does anyone read anything negative into the delay????

    As mentioned in the third quarter Form 10-Q filed on November 5, 2012, the trustee disagrees with XTO Energy that all or any portion of the settlement should be deducted from Trust revenues, and the dispute is being arbitrated. The three member panel of arbitrators (the "Tribunal") has been named and pleadings have been filed by both parties. The arbitration hearing is tentatively scheduled for October 7, 2013 in Fort Worth, Texas if not sooner disposed of by the parties by agreement or by the Tribunal on motion.

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    • Is it possible to submit individual comments to the Arb. Panel? It makes no sense to take disivends away from current shareholders just because (if) XTO overpaid other shareholders several years ago. We should be able to submit our own opinions on this.

      Sentiment: Hold

      • 3 Replies to r.c1000
      • Its unfair on some levels but its not like previous shareholders were personally at fault. HGT is an entity that currently has financial obligations to pay off. It would be worse to tell the other companies "Sorry some of the current HGT shareholders didn't own the shares back then so you don't get paid."
        Hopefully it will get straightened out later and XTO has to pay.
        I agree with Liza, it would be a nightmare if they went back to previous share holders.

      • It's not fair, but that's how every investment works.
        Can you imagine the confusion if prior holders had to give back gains on any stock that they sold which subsequently has some bad news?

        No point in wasting your time submitting comments like that. When you invest in a stock or a trust like this, you take on the risk from any future losses. It's not fair but it's understood you face that risk when you invest.

      • RC I would simply think not. I'm no atty. But the Trustees are representing the shareholders in this case. So, they are "speaking" for us. Send your thoughts to the bank if you think they will help. Seems to me, your thoughts are exactly what this hearing is about??

        Just my best guess.

    • I don't think the market action was HGT specific. A lot of energy and commodity plays sold off today.
      First there was some kind of smackdown on oil prices (rumored to be a hedge fund blowup), followed by fed minutes showing discussion about ending stimulus, causing speculation about rising interest rates.
      That's probably the driver of the market action, not the news about arbitration which few apart from on this board are following.

 
HGT
8.96Oct 17 4:02 PMEDT

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