American Energy Announces Bankruptcy Court Filing by Three Claimed Creditors.Business/Energy Editors The American Energy Group, Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMEL) announced today that it has received notice of an involuntary bankruptcy involuntary bankruptcy Bankruptcy that is forced by creditors instead of being initiated by the firm or individual. Compare voluntary bankruptcy. See also Chapter 7, Chapter 11. petition filed on June 28, 2002 in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the Southern District of Texas-Houston Division by three (3) individuals claiming to be qualified creditors of the company. The petitioners named are Michael Bleks of Dortmund, Germany, Daniel Stoll of Zurich, Switzerland and Peter Barben of Wollcrau, Switzerland. Mr. Bleks has identified the nature of his claim as a personal loan in the amount of $25,000, while Messrs. Stoll and Barben have identified the nature of their claims as unpaid private placement fees in the amounts of $15,867.13 and $9,114.00; respectively. The company has not yet responded to the petition but intends to vigorously defend the claims based upon its belief that these individuals are not now and never have been qualified creditors of the company. Subsequent to the filing, one of the individuals, Mr. Barben, signed a written statement indicating his desire to withdraw from the proceedings. In its investigation to date, the company has also learned that Mr. Georg von Canal assisted counsel for the petitioners in securing the signatures on the petition from two of the petitioners, Messrs. Stoll and Barben. The full extent of Mr. von Canal's involvement in the filing by the three gentlemen has not yet been determined by the company. The American Energy Group, Ltd. is an independent oil and gas exploration, drilling, and production company currently based in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , engaged in international exploration projects. Certain matters described in this report are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. and are subject to risks and uncertainties that could cause actual results to differ materially from those projected. |
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