Current Report Filing (8-k)
03 Janvier 2023 - 10:32PM
Edgar (US Regulatory)
0001555074false00015550742022-12-292022-12-29
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of Report (Date of earliest event reported): January 3,
2023 (December 29, 2022)
ALTISOURCE ASSET MANAGEMENT CORPORATION
(Exact name of Registrant as specified in its charter)
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U.S. Virgin Islands |
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001-36063
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66-0783125 |
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(State or other jurisdiction of incorporation or
organization) |
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(Commission File Number) |
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(I.R.S. Employer Identification No.) |
5100 Tamarind Reef
Christiansted, U.S. Virgin Islands 00820
(Address of principal executive offices including zip
code)
(704) 275-9113
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last
report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Securities registered or to be registered pursuant to Section 12(b)
of the Act:
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Title of each class
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Trading Symbol(s) |
Name of each exchange on which registered
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Common stock, par value $0.01 per share |
AAMC |
NYSE American |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter):
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the
Exchange Act.
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Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Executive Arbitration
Former Chief Executive Officer, Indroneel Chatterjee
On December 29, 2022, the arbitrator entered a final order which
granted an additional award of fees and costs to the Company in the
amount of over $1 million, bringing the Company's total judgment
against Mr. Chatterjee to approximately $1.6 million. In the
arbitrator’s final award, he also included the amounts he had
previously awarded to the Company in his October 19, 2022 order,
which were $400,000 plus interest at the U.S. Virgin Islands’ 9%
statutory rate for contractual claims (since Mr. Chatterjee’s
termination on April 16, 2021) and approximately $140,000 as
reimbursement to the Company for all expenses the Company incurred
directly and solely as a result of Mr. Chatterjee’s misconduct in
the arbitration.
The Company intends to enforce the judgment against Mr.
Chatterjee.
Item 9.01 Financial Statements and Exhibits.
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Exhibit No.
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Description
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101 |
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Pursuant to Rule 406 of Regulation S-T, the cover page is formatted
in Inline XBRL (Inline eXtensible Business Reporting
Language) |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL
document). |
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, as amended, the registrant has
duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
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Altisource Asset Management Corporation
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January 3, 2023 |
By:
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/s/ Kevin Sullivan |
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Kevin Sullivan
General Counsel
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Altisource Asset Managem... (AMEX:AAMC)
Graphique Historique de l'Action
De Fév 2023 à Mar 2023
Altisource Asset Managem... (AMEX:AAMC)
Graphique Historique de l'Action
De Mar 2022 à Mar 2023
