First magnus liquidating trust
I start to wonder, if everyone's email is the same as mine, how many people actually see any of the emails that are sent out?
For Ellipsis Monday Photo Shoot #104: Photographer's Choice, I thought I might take the opportunity to shoot fresh portraits, or at least new photos, of Cayenne and Pepper.
Oil price weakness is now anticipated to last into at least the third quarter of this year and is the main reason for the continued slow-down.
There were no significant precipitation events, 5 days with wind speeds in excess of 35 mph (too high for completion work), and 2 days in Williston with temperatures below -10F.
will contend the plan shouldn't be approved because it doesn't deal properly with .8 million the company is holding although it may belong to creditors. contends First Magnus at filing was holding 0,000 received as interim servicer on loans Wells Fargo owned.
The bank says its money was commingled with .8 million in which other third parties say they have an interest.
But he also said a class-action lawsuit is getting in the way. "There is nothing unusual about our situation in First Magnus except this one company that doesn't want to do that, hasn't done that, hasn't said 'let's make an allowance for the WARN claim' like the other companies are doing," he said.
It was filed by a group of employees against the lender for failing to provide advance notice of a mass layoff, which is required under the federal Worker Adjustment and Retraining Notification, or WARN, Act. Raisner said that if litigation over the WARN claim is protracted, there won't be much money left to pay anyone.
I think we have enough money to pay out (million)- million at this point. Under the bankruptcy code there is a section that refers to preferential payments. I imagine there is going to be quite a bit of push-back on this suit.
"I have a feeling all of it (the money for wage claims) will be eaten up.
The attorneys always win." Mattull said he doesn't believe his branch employed enough people to be part of the WARN Act suit. We paid about 5 percent of the wage claims months ago.
At tomorrow's hearing for approval of the First Magnus Financial Corp.
liquidating Chapter 11 plan, Wells Fargo Funding Inc.
Operators are now even more committed to running fewer rigs as oil prices remain at very low levels.