Post by beavis on Apr 16, 2010 12:33:58 GMT -5
noahltl1.proboards.com/index.cgi?board=cmkx1&action=display&thread=1807&page=7
Re: AGREE..we may not hear from Hodges directly...
« Reply #22 Today at 9:23pm » [
The following is JIMHO, and some is partially based on the limited fiduciary knowledge I was exposed to back in 2001- 2002...but most of the following could be considered by many as as 'WAG'...and they would be right...but it makes good business sense in our current environment.
The Trustee who receives the economic release (which could mean nothing more that receiving the go-ahead from the "other side" to release what he already holds in trust) will retain the fiduciary responsibility to carry out the assigned task of distribution...that is probably why the Trustee was selected. What is his assigned task? I think it is to distribute the monies directly to the shareholders...with the exception of monies obtained from sale of company assets and other company related items. The latter he will distribute to CMKM Diamonds...because those funds are rightfully company funds as long as the company remains solvent and in business...which CMKM is. (If CMKM had gone out of business...such as bankruptcy, etc,...the company related funds would have been designated for shareholder distribution as "other company assets" (does that phrase ring a bell?). Once Tyler receives their funds, then they will proceed with the process they have been assigned...to maybe provide a buyout of those interested in getting out, and to go forward with New Corp. You may have noticed that they have not yet moved forward with their business plan, except for the planning phase, and probably won't until they receive their funds.
Tyler will not be given the task for distribution because (1) they are not the trustee, and (2) they (the Govt) want to keep Tyler as far away as possible from this Bevins lawsuit and subsequent distribution (with the exception of being a recepient as describe in the preceeding paragraph). Remember, as of now the "CMKX was a scam story" will probably be the one that goes down in history (and I don't like it either)...so Tyler does not perform any Trustee function which will link them to this money. And they (Tyler) will probably disguise what they receive as coming from the Trusts (2 or 3 that Urban had) and other assets as a result of their litigation over the past 3-4 years against Urban and others.
The Govt will not be given the task of distribution because (1) they are not the trustee, and (2) with their track record over the past 4-5 years, we want them as far away from the funds as possible. This part I totally agree with.
Thus, we could hear the details from Al and the Trustee through correspondence which could be in the first package or packet we receive from the Trustee (which will probably also contain some "don't talk about this in pubic" document). This would also satisfy a legal requirement that all persons benefiting from this legal action and/or distribution will get the information within the same approximate time frame. I have tried to type that Al could give us a basic statement over the internet about the release of the funds...but I can't...I just don't believe that will happen. Mum will be the word about reality, while the "CMKX was a scam" story does it damage control and regains its' predominate position as the "real story" I really hope that I am wrong about this and that the truth comes out...but at this time I just don't see it.
Thats my story (as of now) and I'm sticking to it.
Have a good evening
roberto
Re: AGREE..we may not hear from Hodges directly...
« Reply #22 Today at 9:23pm » [
The following is JIMHO, and some is partially based on the limited fiduciary knowledge I was exposed to back in 2001- 2002...but most of the following could be considered by many as as 'WAG'...and they would be right...but it makes good business sense in our current environment.
The Trustee who receives the economic release (which could mean nothing more that receiving the go-ahead from the "other side" to release what he already holds in trust) will retain the fiduciary responsibility to carry out the assigned task of distribution...that is probably why the Trustee was selected. What is his assigned task? I think it is to distribute the monies directly to the shareholders...with the exception of monies obtained from sale of company assets and other company related items. The latter he will distribute to CMKM Diamonds...because those funds are rightfully company funds as long as the company remains solvent and in business...which CMKM is. (If CMKM had gone out of business...such as bankruptcy, etc,...the company related funds would have been designated for shareholder distribution as "other company assets" (does that phrase ring a bell?). Once Tyler receives their funds, then they will proceed with the process they have been assigned...to maybe provide a buyout of those interested in getting out, and to go forward with New Corp. You may have noticed that they have not yet moved forward with their business plan, except for the planning phase, and probably won't until they receive their funds.
Tyler will not be given the task for distribution because (1) they are not the trustee, and (2) they (the Govt) want to keep Tyler as far away as possible from this Bevins lawsuit and subsequent distribution (with the exception of being a recepient as describe in the preceeding paragraph). Remember, as of now the "CMKX was a scam story" will probably be the one that goes down in history (and I don't like it either)...so Tyler does not perform any Trustee function which will link them to this money. And they (Tyler) will probably disguise what they receive as coming from the Trusts (2 or 3 that Urban had) and other assets as a result of their litigation over the past 3-4 years against Urban and others.
The Govt will not be given the task of distribution because (1) they are not the trustee, and (2) with their track record over the past 4-5 years, we want them as far away from the funds as possible. This part I totally agree with.
Thus, we could hear the details from Al and the Trustee through correspondence which could be in the first package or packet we receive from the Trustee (which will probably also contain some "don't talk about this in pubic" document). This would also satisfy a legal requirement that all persons benefiting from this legal action and/or distribution will get the information within the same approximate time frame. I have tried to type that Al could give us a basic statement over the internet about the release of the funds...but I can't...I just don't believe that will happen. Mum will be the word about reality, while the "CMKX was a scam" story does it damage control and regains its' predominate position as the "real story" I really hope that I am wrong about this and that the truth comes out...but at this time I just don't see it.
Thats my story (as of now) and I'm sticking to it.
Have a good evening
roberto