King Resources Co. - Oil and Gas Exploration - 1970-1976 dated Stock Certificate
Inv# GS6517 Stock
Stock printed by Federated Banknote Company. Denver, Colorado. Uncancelled and not negotiable.
King Resources Company, previously situated in Denver, Colorado, was a notable firm in the oil and gas exploration sector that faced financial difficulties and underwent a reorganization process during the 1970s. The financial troubles experienced by the company led to several lawsuits, which were consolidated in Denver for pretrial proceedings. In the end, the company was reorganized in accordance with Chapter X of the Bankruptcy Act.
At its inception, King Resources Company was a Colorado-based organization involved in oil and gas exploration. The firm faced significant financial challenges, resulting in legal actions and ultimately, reorganization under bankruptcy laws. The legal issues pertaining to King Resources were consolidated in Denver, specifically in the United States District Court for the District of Colorado, as indicated by Justia Law. The company underwent reorganization under Chapter X of the Bankruptcy Act, a provision that has since been superseded. The western division of the original company, now known as King Resources, LLC, continues to function as an investment group.
A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.
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