Fi liquidating trust
The former Exxon chief executive would give up more than 2 million Exxon shares he would have received over the next 10 years.
In exchange, the company would make a cash payment equal to the value of those shares to a trust to be overseen by a third party.
Exxon said Wednesday that Tillerson has already promised the State Department that if he is confirmed, he will sell 611,000 other shares he currently owns, worth about million at Wednesday's price. Tillerson's selection raised potential conflict-of-interest issues because Exxon has business interests around the globe, including in Russia.
Putting his retirement nest egg into a trust is intended to ease concerns that Tillerson could make decisions as secretary of State that would financially help him or his former associates.
Liquidation of limited liability companies is regulated by Chapter 20 of the Limited Liability Companies Act.
Many of the shoppers had arrived to exchange goods at the store.The defendants also argued that the Trust lacked standing to sue with regard to loans that had been securitized, because a predecessor Res Cap entity had assigned its rights concerning those loans to third-parties.The court rejected this argument, holding that the scope of the assignments raised factual questions that could not be resolved at the motion to dismiss stage.At least one liquidator must be resident in the European Economic Area, unless the PRH grants an exemption from this requirement.The following persons cannot be liquidators: legal persons, minors, bankrupts, persons who are subject to business prohibition, persons under guardianship, or persons with restricted legal competency.