Arbitration

Pacific Coast Oil Trust Announces There Will Be No April Cash Distribution

Retrieved on: 
Thursday, April 28, 2022

ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face.

Key Points: 
  • ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face.
  • Therefore, until the net profits deficit is eliminated, the only cash proceeds the Trust will receive are pursuant to the 7.5% overriding royalty interest.
  • Costs associated with returning wells to service must be recovered before cash flow to the Trust can be created.
  • Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the Underlying Properties).

Pacific Coast Oil Trust Announces There Will Be No March Cash Distribution

Retrieved on: 
Friday, March 18, 2022

ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face.

Key Points: 
  • ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face.
  • Therefore, until the net profits deficit is eliminated, the only cash proceeds the Trust will receive are pursuant to the 7.5% overriding royalty interest.
  • Costs associated with returning wells to service must be recovered before cash flow to the Trust can be created.
  • Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the Underlying Properties).

Well-Known Houston Litigator Heather Kabele Joins Kane Russell Coleman Logan

Retrieved on: 
Wednesday, March 9, 2022

HOUSTON, TEXAS, March 09, 2022 (GLOBE NEWSWIRE) -- Kane Russell Coleman Logan announces that Heather Kabele has joined the firms Litigation Group in the Houston office.

Key Points: 
  • HOUSTON, TEXAS, March 09, 2022 (GLOBE NEWSWIRE) -- Kane Russell Coleman Logan announces that Heather Kabele has joined the firms Litigation Group in the Houston office.
  • Kabele is a litigation attorney with impressive victories in the courtroom and favorable results in negotiated resolutions.
  • Heather Kabele is a great addition to the Houston litigation team.
  • Kane Russell Coleman Logan PC is a full-service law firm with offices in Dallas and Houston.

Pacific Coast Oil Trust Announces There Will Be No February Cash Distribution

Retrieved on: 
Tuesday, February 22, 2022

ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face.

Key Points: 
  • ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face.
  • Therefore, until the net profits deficit is eliminated, the only cash proceeds the Trust will receive are pursuant to the 7.5% overriding royalty interest.
  • Costs associated with returning wells to service must be recovered before cash flow to the Trust can be created.
  • Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the Underlying Properties).

Sunniva Inc. Announces Issuance of Secured Promissory Notes of its Wholly-Owned Subsidiary, CP Logistics, LLC

Retrieved on: 
Monday, February 14, 2022

VANCOUVER, British Columbia, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Sunniva Inc. (Sunniva, the Company) (CSE:SNN) (OTC Pink Sheets:SNNVF) announced today that its wholly-owned subsidiary, CP Logistics, LLC (CPL), closed a non-brokered private placement of secured promissory notes (the Notes) on February 10, 2022, for aggregate proceeds of US$700,000.

Key Points: 
  • VANCOUVER, British Columbia, Feb. 14, 2022 (GLOBE NEWSWIRE) -- Sunniva Inc. (Sunniva, the Company) (CSE:SNN) (OTC Pink Sheets:SNNVF) announced today that its wholly-owned subsidiary, CP Logistics, LLC (CPL), closed a non-brokered private placement of secured promissory notes (the Notes) on February 10, 2022, for aggregate proceeds of US$700,000.
  • The Notes bear interest at a rate of 20% per annum, mature on January 31, 2026, and are secured against all of the assets of CPL.
  • If the Arbitration (as defined below) results in a monetary award, holders of the Notes shall be entitled to be repaid in respect of the Notes from such monetary award.
  • The proceeds from the Notes will be used to fund ongoing costs associated with the Arbitration and for general working capital purposes.

Pacific Coast Oil Trust Announces There Will Be No January Cash Distribution

Retrieved on: 
Thursday, January 27, 2022

ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face.

Key Points: 
  • ARO is the recognition related to net present value of future plugging and abandonment costs that all oil and gas operators face.
  • Therefore, until the net profits deficit is eliminated, the only cash proceeds the Trust will receive are pursuant to the 7.5% overriding royalty interest.
  • Costs associated with returning wells to service must be recovered before cash flow to the Trust can be created.
  • Pacific Coast Oil Trust is a Delaware statutory trust formed by PCEC to own interests in certain oil and gas properties in the Santa Maria Basin and the Los Angeles Basin in California (the Underlying Properties).

Sunniva Inc. Announces Financial Update

Retrieved on: 
Friday, January 14, 2022

VANCOUVER, British Columbia, Jan. 14, 2022 (GLOBE NEWSWIRE) -- Sunniva Inc. (Sunniva, the Company) (CSE:SNN) (OTC Pink Sheets:SNNVF) provides an update on several financing related items.

Key Points: 
  • VANCOUVER, British Columbia, Jan. 14, 2022 (GLOBE NEWSWIRE) -- Sunniva Inc. (Sunniva, the Company) (CSE:SNN) (OTC Pink Sheets:SNNVF) provides an update on several financing related items.
  • The proceeds from the Notes will be used principally to fund CPLs ongoing expenses pursuant to the Arbitration.
  • With respect to forward-looking information and statements contained herein, Sunniva has made numerous assumptions including, among other things, assumptions about general business and economic conditions.
  • Sunniva assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information or for any other reason except as required by law.

IsZo Capital Initiates FINRA Arbitration Against Jefferies and Its Leaders Over Alleged Fraud and Theft

Retrieved on: 
Wednesday, December 8, 2021

IsZo manages a fund by the name of IsZo Capital LP.

Key Points: 
  • IsZo manages a fund by the name of IsZo Capital LP.
  • IsZo Capital LP has maintained a brokerage account with Jefferies LLC (together with its affiliates, Jefferies or the Bank) since 2016 and the Bank has charged us over $28 million in fees and interest.
  • All of this information is available in public filings and demonstrates that Jefferies statements to IsZo Capital in emails and letters constitute obvious fraud.
  • Furthermore, Jefferies has not only seized IsZo Capital's funds, but it has also prohibited any transactions by IsZo Capital.

Leading Alternative Dispute Resolution Firm Expands Charlotte Office, Acquiring Four Mediators

Retrieved on: 
Wednesday, October 20, 2021

Miles Mediation & Arbitration , the fastest growing alternative dispute resolution (ADR) firm in the Southeast, announces today the expansion of their Charlotte office, acquiring four additional mediators and arbitrators to accommodate every case type, size, and complexity.

Key Points: 
  • Miles Mediation & Arbitration , the fastest growing alternative dispute resolution (ADR) firm in the Southeast, announces today the expansion of their Charlotte office, acquiring four additional mediators and arbitrators to accommodate every case type, size, and complexity.
  • The Miles Charlotte office, the only firm in Charlotte with an office dedicated to alternative dispute resolution, has continued to experience significant growth despite opening in the midst of a pandemic.
  • The firm specializes in mediation, arbitration, and all forms of dispute management, and has a reputation for delivering exceptional client service coupled with successful results.
  • Mediation, arbitration, and dispute management are often a more efficient and economical way to resolve legal and corporate disputes between parties.

U.S. Chief Magistrate Judge Mark Falk (Ret.) Joins Walsh Pizzi O'Reilly Falanga LLP

Retrieved on: 
Friday, October 1, 2021

"We are honored to welcome Judge Falk, a respected jurist with a reputation for fair-mindedness," said Liza M. Walsh, co-founder and managing partner.

Key Points: 
  • "We are honored to welcome Judge Falk, a respected jurist with a reputation for fair-mindedness," said Liza M. Walsh, co-founder and managing partner.
  • Judge Falk served the District of New Jersey with distinction before retiring, having been appointed that Court's first Chief Magistrate Judge.
  • Judge Falk brings deep experience in resolving complex, challenging disputes, as he conducted thousands of settlement conferences and mediations while on the bench.
  • In addition to his role in the Federal Magistrate Judges Association, Judge Falk served two terms on the Advisory Committee on the Administration of the Magistrate Judge System in Washington.