根据公司1997年的重组计划, all of Gulfport's possible causes of action against third parties (with the exception of certain litigation related to recovery of marine and rig equipment assets and claims against Tri-12月k), 自该计划生效之日起存在的, were transferred into a "Litigation Trust" controlled by an independent party for the benefit of most of the Company's existing unsecured creditors. The litigation related to recovery of marine and rig equipment and the Tri-12月k claims were subsequently transferred to the Litigation Trust as described below.

诉讼信托基金体育平台是由一个3,000,000 cash payment from the Company, which was made on the effective date of reorganization. 格尔夫波特拥有一家 12与另一方在诉讼信托中享有%的权益 88% being owned by the former general unsecured creditors of Gulfport. 用于财务报表报告的目的, Gulfport has not recognized the potential value of recoveries which may ultimately be obtained, 如果有任何, 由于诉讼信托基金的行动, 处理整个$3,000,000 payment as a reorganization cost at the time of Gulfport's reorganization.

1月20日, 1998, Gulfport and the Litigation Trust entered into a Clarification Agreement whereby the rights to pursue various claims reserved by Gulfport under the plan of reorganization were assigned to the Litigation Trust. In connection with this agreement, the Litigation Trust agreed to reimburse the Company $100,000 for legal fees Gulfport had incurred in connection with these claims. As additional consideration for the contribution of this claim to the Litigation Trust, 格尔夫波特有权 20% to 80这些索赔的净收入的%.

2009年12月, the Company received a final distribution from the Litigation Trust of approximately $234,000. No proceeds were received from the Litigation Trust for the years ended 12月ember 31, 2011 or 2010.