Enterprising Investor
4 weeks ago
Motion to Approve (Motion of Debtors for Entry of Order (I) Approving Proposed Disclosure Statement and Form and Manner of Notice of Disclosure Statement Hearing, (II) Establishing Solicitation, Voting and Tabulation Procedures, (III) Scheduling Confirmation Hearing, (IV) Establishing Notice and Objection Procedures for Confirmation of Plan, (V) Establishing Cure Procedures and (VI) Granting Related Relief) Filed by Silvergate Capital Corporation. Hearing scheduled for 11/1/2024 at 10:00 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. Objections due by 10/25/2024. David Queroli (10/11/24)
Source: Stretto [Docket 149]
https://cases.stretto.com/public/x353/13020/PLEADINGS/1302010112480000000112.pdf
Enterprising Investor
4 weeks ago
The Stilwell Group Comments on the Results of Silvergate's 2024 Annual Meeting (9/27/24)
NEW YORK, Sept. 30, 2024 /PRNewswire/ -- The Stilwell Group ("Stilwell"), a beneficial owner of 12.4% of Silvergate Capital Corporation ("Silvergate" or the "Company") (OTC: SICP, SICPQ, SICPL), today commented on the outcome of the Company's September 27, 2024 Annual Meeting of Stockholders (the "Annual Meeting").
On Friday, September 27, 2024, Joseph Stilwell was elected to the Silvergate board with more than 10.5 million votes, over 95% of the shares voted. The legacy directors received just over 1 million votes. Despite having set the date, time, and place of the Annual Meeting, none of these directors were able to attend the meeting, according to the Company's lawyer from Cravath, Swaine & Moore LLP.
Four of the legacy directors, Paul D. Colucci, Thomas C. Dircks, Michael T. Lempres (Chairman), and Scott A. Reed, oversaw the demise of Silvergate Bank. They also oversaw previous management whom the Securities and Exchange Commission charged with committing "negligence-based fraud."[1]
Joseph Stilwell says, "I will work to maximize value for the common holders."
Cravath, Swaine & Moore LLP has served as lead counsel for the Company during many months of litigation and the Company's five failed attempts to stop the Annual Meeting.
https://www.prnewswire.com/news-releases/the-stilwell-group-comments-on-the-results-of-silvergates-2024-annual-meeting-302262005.html
Invest-in-America
2 years ago
SI: Get ready to PARTY!!! My glorious SI HomeBoys, HomeGirls, & straight-up GangBangers!!! I gots the party MUSIC for ya-all, below!!! Who's gonna bring the REFRESHMENTS!!!??? (Hey, Emperor G-2-G, how about some disruptive, brand-new, very tasty, "Little-Debbie-Cannabis-Infused-Strawberry-Snack-Cakes", Dude!!!???)
Invest-in-America
2 years ago
SI: You likely know that I do NOT like Bitcoin, inter alia. HOWEVER, the "Blockchain" infrastructures --- when exploited vis-a-vis a "STABLECOIN" (e.g., Tether), could very well offer Planet Earth an alternative to traditional BANKS. (But, 'INSURED ACCOUNTS' will be required.)
https://finance.yahoo.com/news/u-banking-crisis-could-present-092701980.html
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