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  • bskptkl bskptkl Sep 17, 2009 9:39 AM Flag


    19th Litigation Trust report is out on PACER recently. It reports settlements with 16 people now (out of 67 total I believe), 6 settlements since May 2009. The settlements are confidential, but legal bills totaling $6 million (less a $1.5 million retainer seeded by CDCO) presumably have being paid out of the settlements.

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    • Up to 26 Lit Trust reports now...30 settlements, 9 bankruptcies - leaves 27 or so pending cases, mostly in state court. It seems everybody is waiting for the US ct of appeals to rule on defendants petition for yet another appeal, a wait that has taken six months now.

      Meanwhile CDCO liability to CDCOR holders is much reduced by all the settlements and consequently CDCO declared and paid an interim dividend to both CDCO and CDCOR holders. They paid out $20 million of their $50 million cash in April 2011.

      So "book value" of CDCOR shares is currently 9 cents or so while the big unknowns remain how much the Lit Trust can recover and how long it will take.

      I'm still holding, but would love to see a pop in the stock, like spring of 2008's random move into the 20s.

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