"They reported" your quote rbt. however I did realize that the tax-free Bahama honest best is probably what you meant, wink wink. And by the way yong hui li also reported, from the provinces of british canadia that he was the owner of 220,000 shares personally. ouch, there went your trane of logic. Are you stating rbt, that the shares acquired were the shares of Q-Ji? Because if they are thus, they amount to a fraudulent conveyance, in anticipation of the forthcoming lawsuit. The attorneys can void the sale and honest best and its owner get the return of their nominal consideration. Eh? isn't that how the game is played rbt?
purchased greater than 3 million shares of chng stock.
hmmmmm..... why would a chinaman pee away millions of dollars in years 2013 and 2014 to purchase so many shares that vbtshermans asserts are worthless? just asking here boys. Could these be the shares of Q-Ji? But Q-Ji never filed a repost of sale. hmm, rbt please your studied incite please.
do you think that he has "bailed" out of the company? He was the majority share holder, the controlling interest. And you think he sold everything? By the way, regardless, he has to report the sales to the SEC on a 10 G or whatever it is called. He has filed no such report.
Correct me if I am wrong the incite man.
well... if nothing else, it will certainly be interesting to watch. I think you are right about this and will likely buy on the drop.
anyone who reads your posts knows you are slow or feigning ignorance, so please....
Do you know what a judgement is? Do you know how a judgement "attaches" to the assets of the so-adjudged? Do you recall how many shares of CHNG (the american stock) were owned by Q-Ji? Do you think that when the Trustee sells the 10 or so respective vie, that any of the proceeds after the creditors, will make their way to the previous ownership interest of Ji? It appears as though your boys in China, Yang, et al, are in the process of phooqing Q-Ji. Whaddayathink?
Default Judgement in amount of $10.4 million for Skyway et al against Qinan Ji. Signed 1/30/15 by District of Delaware Judge Richard G. Andrews.
To view this google Skeway v China Natural Gas, Inc. and view or click on Justia Docs with the docket dated 1/30/15. Three or four page document for vbtshermans reading pleasure.
I really surprised that rbtsherman the information "ace" could have missed this.
"Sorry you will get zero"
Very childish rbt. Do you have the foggiest notion of when my first shares were purchased and for what price?
Your arrogant tone seems to imply that you have some inside China information. Are you a Chinaman?
a D & O claim does not go to the company, especially if the company is in CH 7. Q-Ji was a director and an officer, his failures of duty caused the suit. The plaintiffs have already attained judgement against Qinan Ji in the amount of $10 million, the judgement has not yet been filed. Filing is a clerical matter.
and from this very lawsuit the following "The bankruptcy petition stayed the case against CHNG. This case continues against Ji." "On 9/10/13 the clerk of court entered a default against Ji pursuant to Federal Rule of Civil Procedure 55 (a) for failure to appear or answer Plaintiff's second amended complaint."
I believe that Ji still owns some greater than 2 million shares of CHNG stock. So it is easy to see what is cooking down at the brew pub. Qinan Ji, current Shaanxi prez of the Xi'an Xilan group of subsidiaries gets screwed out of the proceeds of sale of vie interest proceeds net of Abax payments when the Trustee holds the garage sale.
Law360, New York (April 29, 2015, 6:04 PM ET) -- A Delaware securities fraud class action against Chapter 7 debtor China Natural Gas Inc. may proceed to the extent that a $15 million insurance policy can fund it, a New York bankruptcy judge ruled Tuesday, lifting a normally ironclad automatic bankruptcy litigation stay.
U.S. Bankruptcy Judge Sean H. Lane issued the order — related to the XL Insurance Company Ltd. directors' and officers' liability policy — after class representatives Robert Skeway and Raimundo Jo-Fung sought to lift the stay in pursuit of damages from the debtor,...
in a CH7 there is an "automatic stay" imposed on the assets of the company, in this case CHNG. Creditors must submit proofs of claim, proving their respective amounts due. The lawsuits are pending, with exception of a claim from classaction against the $15m D&O claim. There are no other class actions in process. The reason that the lawsuits are moot is this: CH7 requires insolvency. SEC balance sheets attested to by cap firms state in black and white a book value greater than $10 per share. So what is this bk judge doing affirming a CH7 liquidation? Something strange going on here. Each of the 10 separate companies was a going concern. added information indicates that the subsidiaries have grown into lng terminals on the Yangtze, to the tune of $25 million. And how... if the company is in CH7?
the lawsuit is pending, you say. That is in direct contradiction to what one rbtsherman has been stating on this very board. For the life of me.
the "steel" may be in the various republics of the PRC, the ownership claims, the vie, reside at the holding company level on the books of CHNG. CHNG holds the controlling ownership to separately chartered companies in the PRC. Think of this as owning the shares to separate subsidiaries. When the trustee has the garage sale, he will not be selling steel.
If you have paid attention, you recall the $800K sec penalty to Q-Ji and Chng that was promptly paid.
If this were to set a precedent that the respective vie were "worth-less" in America, then the sheet heats the fan as they say and baba et al are Bernie Madoff scams. This may well be precedent setting. If you were the sort of person to think about such things.
highly leveraged? Total assets $300 total debt $60. Debt Equity ratio only 25%. Want to restate that rbt? or is this the mumbling bs, lies, and hs that is you normal.
there is nothing you or I can do. The assets of CHNG are owned by the Trustee in CH 7 BK. That simple. The Trustee is under to sell the assets to pay the "proved" creditors of the estate. The only Creditors to the Estate were the three Abax related totaling close to $60 million. The controlling ownership in 10 respective VIE located across three provinces in the PRC. The 9/30/13 Sec consolidated balance showed book value greater than $10 per share. The CHNG has opted under sec permission to "go black." As far as we know, all of the VIE remain as going concerns. No part of the company was ever "insolvent" and yet this time-less stretch for the BK Trustee to line up the garage sale. The trustee is in a world of hurt if he returns "0" to shareholders. If he does this, is he taking a personal bribe from Chinese who are defrauding the American shareholders? Well... clan we will have to wait and see what transpires. You and I are paying the Trustee $400 per hour to tour China, kick the tires, throw a few parties, taste a few "pastries" and well you have seen how the attorney class takes theirs first. That is where we sit. The book value of the company, last time we had cpa attested valuation was greater than $10 per share.
no answer at all rbt. I accused you of being a shill for the China cabal that is trying to steal the stock from American owners. Everything you have done is consistent with this. Are you a Chinaman?
I think that his obtuse and ignorant postings are "an act" I think he is a boy with an agenda. You have observed how emotionally defensive he is for Director Fast-times Don Yang. In my opinion it is Director "Don" fast-times who is trying to steal the company. Merrill Boy in China, educated at Wharton, these guys are all devious kreeps. And my guess is that the dunce rbt mumbling meaningless negatives is their shill. for what it's worth.