Attached files
file | filename |
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8-K - FORM 8-K - LL&E ROYALTY TRUST | h81333e8vk.htm |
Exhibit 99.1
LL&E-ROYALTY TRUST
LL&E ROYALTY TRUST LL&E ROYALTY TRUST ANNOUNCES POSTPONEMENT
OF
HEARING IN BECKETT LAWSUIT
HEARING IN BECKETT LAWSUIT
LL&E ROYALTY TRUST
The Bank of New York Mellon Trust Company, N.A. Trustee
NEWS
RELEASE
FOR IMMEDIATE RELEASE
AUSTIN, Texas, April 11, 2011LL&E Royalty Trust (Pink Sheets:LRTR.pk News) announced that
LL&E Royalty Trust (the Trust) and The Bank of New York Mellon Trust Company, N.A., as trustee
(the Trustee) of the Trust, have agreed to a postponement of the hearing originally scheduled for
April 14, 2011 relating to the Complaint for Legal and Equitable Relief (the Complaint) filed by
Jeff Beckett in the United States District Court for the Eastern District of Michigan. The hearing
is expected to be rescheduled for a later date.
As previously announced, the Complaint seeks a judicial modification of the terms of the Trust
Agreement governing the Trust, a judgment declaring that the termination provisions of the Trust
Agreement do not apply and an order preventing the sale of the Trusts assets. The Complaint also
makes a number of other allegations and seeks removal of the Trustee and other relief. By pending
motion, the Trustee is seeking to have the lawsuit dismissed or transferred to federal court in
Texas. The Trust and Trustee agreed to the postponement of the hearing in an effort to reduce
legal expenses and allow additional time for discussions between the Trustee and the plaintiff.
This press release contains statements that are forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. All statements contained in this press release, other than
statements of historical facts, are forward-looking statements for purposes of these provisions.
These forward-looking statements include all statements included in this press release regarding
the timing of any hearing relating to the Complaint and the possibility of any discussions between
the Trustee and the plaintiff. An investment in Units issued by LL&E Royalty Trust is subject to
the risks described in the Trusts Annual Report on Form 10-K for the year ended December 31, 2008,
and all of its other filings with the Securities and Exchange Commission, including the Form 12b-25
filed by the Trust with the Commission on April 1, 2011. The Trusts annual, quarterly and other
filed reports are available over the Internet at the SECs web
site at http://www.sec.gov.
Contact:
|
LL&E ROYALTY TRUST | |
The Bank of New York Mellon Trust Company, N.A., as Trustee | ||
Mike Ulrich | ||
(800) 852-1422 | ||
www.businesswire.com/cnn/lrt.htm |