Have you suffered losses investing with Argent Energy Trust? If so, the attorneys at The White Law Group may be able to help.
Argent Energy Trust owned, operated and managed oil and gas properties located primarily in South Texas, and Wyoming, U.S., with drilling prospects focused in the Parkman and Turner formations. The trust was established as a mutual fund trust in 2012 and completed its IPO the same year.
Argent Energy Trust and certain subsidiaries filed an application for bankruptcy protection in February of 2016.
On May 17, 2016, Argent announced the sale of all of its oil and gas assets in the US to BXP Partners IV, LP. The transaction was approved by the Court of Queen’s Bench of Alberta and the United States Bankruptcy Court. The proceeds received from the transaction are insufficient to provide any funds for distribution to unitholders or bondholders of the Trust. The Trust is currently winding down operations.
High-yield bonds—also called non-investment-grade bonds, speculative-grade bonds, or junk bonds—such as Argent Energy Trust, 6.5%12-31-2018 are bonds that are rated below investment grade, typically ‘BB’ or lower by Standard & Poor’s and ‘Ba’ or lower by Moody’s. They pay high yields to bondholders because the borrowers credit ratings are less than pristine, making it difficult for them to acquire capital at an inexpensive cost. Junk bonds carry an above average risk that the issuer will default on the bond. The increased risk makes them arguably unsuitable for many investors.
If you have lost money investing in Argent Energy Trust 6.5% 12-31-18, then The White Law Group may be able to help.
Brokerage-firms and investment adviser are required to make investment recommendations that are suitable for their clients in light of their clients particular investment situation – net worth, investment objectives, income, and investment experience. Brokerage firms or advisors who sell junk bonds to unsuitable investors or fail to adequately disclose the risks of the investments can be held accountable for losses suffered through a FINRA arbitration claim.
If you have concerns regarding your investment in Argent Energy Trust and would like to speak with a securities attorney about your litigation options, please call The White Law Group at (888) 637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
To learn more about The White Law Group visit www.whitesecuritieslaw.com.