first of all, there seems to be two "you"s here. One is me and the other is rbtsherman. So, I will give you my train of thought and am certain that as soon as I do rbt will recant. The stock is in CH7, however all of the subsidiaries located in three separate provinces of the PRC are going concerns. The 9/30/13 Quarterly report showed a book value per share of $10 per share. The companies are one residential gas line utility located Xi'an Shaanxi province, cng filling stations, one LNG plant, and a variety of auto conversion and natural gas equipment supply entities. So... there are total assets at $300 mil, total liabilities at $60 mil and some 21 million shares outstanding. 'The Trustee has a duty to see the assets, a fiduciary duty to sell the assets at a commercially reasonable value. Trouble is that he is in New York, the company is located Delaware, and the subsidiaries all located in the PRC. If you believe there is any honor in the system, there is value here.
the loan could easily have been restructured so that the amortization "matched" the cash-flow stream. now you can jump up and down like a little monkey at the circus, but even you, with your third-grade level of understanding can comprehend this small point about the art of banking. And where was your boy Don during all of this? Director Don.
and this herr rbt, is precisely why your boy, Director Fast-Times Devious-Don Yang breached his fiduciary duty to the shareholders of the company. He cannot be a winner with the assets of the company when any shareholder is the loser. Too complicated for you to understand?
and the security interest? the lien? Are the assets free and clear? What was the Chinese company, Xi'an Xilan Natural Gas? So CHNG, the American company was only co-signor, eh? Yet the BK for forced sale of assists (titled assets) is brought by ABAX in the state of New York, eh? Have you informed your boy, fast-times Don of this small problem?
and please do tell, rbt, what title is it that you have looked at? Capital Asset? Shaanxi Province? Was there a registered lien holder on the titled property? Was there a security interest to attach the lien properly? Please rbt. Do tell. Was this contract in Mandarin? Are you chinese so you can read in Mandarin?
chasing his tail. It is quite entertaining. one the one hand the bk judge is the be all and the end all and on the other hand he, the bk judge has no authority in the prc. Keep chasing that tail, rbi, eventually you will arrive.
your mumblings are so much horseshia that we feel sorry for you. The plain and simple is: abax could not collect its loans in the PRC, so they have to make a three year detour to the state of New York. Collecting a valid debt from a company with $300 million in assets should take three months maximum. Yet fast -times Don and the abax boys fail to get the job done. Yet you say the cdb is behind fast-times Don? Don the incompetent banker? The goof ball who can't even collect a small loan.
we all know rbt is a little slow.... so I'll help the boy out. It appears that the article may actually refer to a different company with an almost exact name, to wit:
China Natural Gas Co., Ltd. offers production; sales and distribution of natural gas; and the operation of compressed natural gas stations. The companies through its subsidiaries provides natural gas for vehicular use and also operate around 60 compressed natural gas stations in the Sichuan, Shandong, Hainan, Jiangsu, Shaanxi, Inner Mongolia and Hebei regions of China. China Natural Gas Co., Ltd. is based in China.
No. 143 Huayou Road
China Natural Gas Corp to shut Yan’an LNG plant on 10 March
14 February 2014 07:00 Source:ICIS News
SINGAPORE (ICIS)--China Natural Gas Corp is planning to shut its 2 million cubic metre (mcm)/day gas liquefaction plant at Yan’an in Shaanxi province on 10 March for a routine turnaround, a company source said on Friday.
the insurance company has a $15 million loss confronting them, the insurance co, if the class action plaintiffs win the suit. It makes no difference, what you, rbt-tne-devious want in the matter. And the lawyers for the class action are not fee based, they take only a slice of the pie, but then only if they win. With the dismissal of the accountancy suit, their likely hood of winning is slim.
I do not know if this is cause-effect, but it seems to correlate inversely to my blood pressure. Not certain whether this makes things clearer for you.... but it may also have something to do with the price of oil coming down and the book value being a quasi floor value.
have you entirely missed the point? The plaintiff's atty is asking for the relief from auto stay so that the class action suit can continue proceedings. Your argument has been that it is the BK judge that will rule for the civil action claims!
Are you a listed plaintiff in in either of the class action civil suits?
rbt, your post from mar 06: "The only thing left is against the company and thats in bankruptcy court
You want details of the suit than go to the filing
I read it a long time ago and was asked to be part of it,both suits
I declined both but will be included in second as they have won a whole class suit
I wanted the company to be successful so I did not join the suits "
March 23, 2015
(c) 2015 Dow Jones & Company, Inc.
Investors who bought China Natural Gas Inc.'s publicly traded shares before the company's bankruptcy want to move forward on their lawsuit over securities violations, hoping to be paid from the company's $15 million insurance policy.
In court papers, a lawyer who represents shareholders of China Natural Gas , which distributed natural gas throughout China, asked a federal judge make an exception to the bankruptcy rule that automatically halts lawsuit, enabling the class-action lawsuit to advance
and here one rbtsherman has stated that the judge has already decided what the plaintiffs will receive.
As the Krone gets weaker to the dollar, the less valuable the STO stock.
For example, a year or so back, the Krone traded at 5.6 Krone per USD.
This exchange rate difference translates from the $16 value range today, to 24 value
if the Krone traded at the stronger rate.
The central bank of Norway manipulates the exchange rates and this is a detriment to
the domestic value of the stock in America. The point is simple, factor out the exchange rate
difference and you observe quite a different result.
and to compound your problem, rbt, the historical cost basis of some of these acquisitions have likely appreciated in terms of USD as the Yuan required to buy 1USD in 2005 was 8, it is now only 6, i.e. the value today as much as 25% greater in USD.
the CHNG claim is vie. This makes the separate charters for each and every down range subsidiary moot, just like BABA, eh? The consolidated balance sheet is a snapshot of the values in proportion to ownership interest prepared by company, audited by cpa, and signed by the ceo of CHNG, Qinan Ji. or Shuwen Kang. (don't know if you have ever heard of him before, eh?)