$gtii Update--I'm annoyed

Summary

In this video, the speaker expresses frustration over delays in a legal case involving GTI, where they are one of the plaintiffs. They highlight the slow pace of motions being filed, the lack of communication from the receiver and their legal team, and concerns over shareholders not returning shares. Despite appreciating the efforts of their own legal team, they demand faster progress and more transparency. The speaker encourages other shareholders to contact the receiver and push for action, while emphasizing the importance of moving the case forward efficiently. They also discuss a potential hearing and future legal actions.

Takeaways

• 😀 The speaker expresses frustration over delays in legal proceedings related to GTI, specifically with the filing of two important motions that have been promised for over three weeks but still haven't been filed.
• 😀 There is a lack of communication from the receiver and their council, leaving the speaker feeling in the dark about the status of the case.
• 😀 The speaker urges GTI shareholders to take action by contacting the receiver directly to ask for updates on the filings, the status of the audit, and the delay in the motions.
• 😀 The speaker stresses the importance of legal aggression, especially in holding shareholders accountable for not returning shares, suggesting that the receiver's team should use stronger legal measures.
• 😀 The speaker emphasizes that there is no excuse for the delay, especially if the issue is a lack of manpower. They believe the receiver should seek additional resources if needed.
• 😀 The speaker criticizes the pace of the case, particularly the slow filing process and the failure to provide necessary updates, which they argue is harming shareholder interests.
• 😀 The speaker is considering substituting themselves in proper as a plaintiff to gain more control over the legal proceedings, but will wait a week to see if the situation improves before making this decision.
• 😀 The speaker highlights a hearing scheduled for May 28th, and expresses concern that the delayed filings may prevent the motions from being heard in time at the status conference.
• 😀 There is frustration over potential misconduct by some GTI shareholders who are reluctant to return their shares, with the speaker suggesting that the receiver should take aggressive action, including legal penalties or even jail time.
• 😀 The speaker calls for more transparency in the process, urging the receiver to release reports, file the motions, and provide more frequent updates to shareholders.
• 😀 The speaker encourages polite persistence from shareholders when contacting the receiver, urging them to ask for updates while remaining respectful and focused on advancing the case.

Q & A

Why is the speaker frustrated with the receiver's progress?

The speaker is frustrated because the receiver has not provided any updates or filed two important motions that were expected for over three weeks, causing a delay in the legal proceedings. This lack of communication and progress is a significant source of annoyance.

What are the two motions the speaker is waiting for, and why are they important?

The speaker does not specify the exact content of the two motions, but emphasizes that they are essential to completing a transaction with AI. These motions are critical for moving forward with the case, and their delay is causing significant concern.

What role does the receiver play in the case?

The receiver is tasked with managing the situation, including overseeing legal matters and ensuring that all required documents and actions, like the filing of motions and reports, are handled. The speaker believes the receiver has been too passive and slow in fulfilling these responsibilities.

How does the speaker suggest shareholders should respond to the delays?

The speaker suggests that shareholders directly contact the receiver to ask about the delay, the status of motions, the audit, and the overall progress. They are encouraged to be polite but persistent in pressuring the receiver to take action.

What concerns does the speaker have about the lack of communication from the receiver?

The speaker is concerned that the receiver has not provided any updates or filed important motions, and that this lack of communication could indicate inefficiency or insufficient resources. The absence of reports and action creates a sense of uncertainty and frustration.

Why does the speaker mention the potential misconduct of certain GTI shareholders?

The speaker references potential misconduct by some GTI shareholders who may be reluctant to return their shares. The speaker advocates for the receiver to take a strong legal stance against these shareholders, suggesting that legal action, including jail time, may be necessary to ensure compliance.

What does the speaker mean by 'legal aggression'?

By 'legal aggression', the speaker is calling for a more forceful and proactive approach to handling the legal proceedings. This includes filing motions, enforcing shareholder compliance, and pushing for faster results, rather than waiting passively for things to progress on their own.

What does the speaker suggest might be the reason for the delay in filing the motions?

The speaker speculates that the delay may be due to a lack of manpower from the receiver's legal team. If this is the case, the speaker urges the receiver to seek additional resources or assistance from the plaintiff’s council to speed up the process.

How does the speaker feel about the involvement of former management in the GTI case?

The speaker expresses no interest in protecting former management, emphasizing that if former management committed misconduct, they should face legal consequences, including potentially going to jail. The priority is to clear out any remaining issues related to past management to move the case forward.

Why does the speaker consider stepping in as a plaintiff representing themselves in the case?

The speaker considers stepping in as a plaintiff to gain more control over the proceedings and to potentially expedite the process. They feel that by representing themselves, they could directly influence the actions in the case, though they are still hesitant about incurring the associated costs and responsibilities.