The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Be still, sad heart! and cease repining;
Behind the clouds is the sun still shining;
Thy fate is the common fate of all,
Into each life some rain must fall,
Some days must be dark and dreary.
Henry Wadsworth Longfellow (1807–1882)
If this is the end I am so pissed off with all the BS that was spoken in the shareholder meeting in October.
It would be nice to hear from the company, hopefully this document that has been revealed today is old news and a settlement to make this company work has been agreed.
I'm trying not to be too peed off until we hear the truth, but surely it is over to FRR to get some kind of update to us now, either via YJ, Mlacy or maybe it is time for FSHG to make initial contact?
As I cannot view the document I am a little blind here. When was the discovery granted? Was it after these documents were drafted?
5p, Noloss, That's what I got but waited and refreshed and it came up. You may need to zoom in once it appears to be able to read it.
star - your talking about the injunction being lifted on 18th December- it was re applied. Do you think wed still be here with block 12 if it wasnt re applied ffs
Im getting the same 5p
I have not read the document as do not have access, not that I cannot be bothered.
I click the link and it says, document does not exist
What we need now is YJ, Zaza, Malcy or Mole to confirm that this is old news. If this was indeed the initial document, and that it preceded all those words of comfort, then we are still on track. We need to know what happened today, not 2 months ago.
Would have thought that case would have been dismissed rather then a stay on proceedings.
For uninformed read timing. Not sure how that autocorrect happened!
Agree 5p it could be a permenant stay but doubt it would be granted as what would happen if by some miracle we wine the appeal. Would we then have to restart the case? Can’t see Cayman courts wanting that given their reputation for timing and cost efficiencies.
The Stay is probably a permanent one, i.e. that there is no case.
I've not read the document, but going on what people have said here it is not good.
It seems like Zaza decided to play poker with all our cash and lost, he could have done a fund raise for the $2m interest, I do not understand why he has gambled the company for the sake of $2m.
Fell well peed off
An ooc not in frr's favor? Was this a stalling tactic for the loan? Why was YA restructure deemed so leniant if not for evidence against Hope? Short term cash flow issues or box ticking for the loan agreement? I have literally no idea what is going on. Those last few pages of the judgment make very little comfort.
Star rage thanks for posting. My reading is that this is the judgement that we are taking to the court of appeal. So yes the injunction has been lifted but it was immediately reinstated until the court of appeal hearing. We knew this.
Not great reading for FRR but there is a lot in there about preliminary arguments etc which makes sense as the initial hearing was essentially an emergency one to get the injunction in place.
I think given the uninformed of the publication of this that my earlier post was probably close - I.e. hope has asked for the commercial case to be put on hold until the outcome of the court of appeal hearing as the current judgement makes it clear (sadly) that there is no case to be heard on any of the claims made by FRR.
Hope I’m wrong and today’s application is to stay proceedings for an OOCS as per the final paragraph of the judgement!
star - its from the 18th December. The injunction was lifted and then re applied
Heres the last statement in the document from 18th December hearing, delivered on the 19th January
it starts- the frontera group appears to have considerable value despite the present dispute and then goes on to suggest they should resolve the issue out of court.
Item 50 in the document - i cant cut n paste.
you've either been excited like a happy puppy and in your haste to post not read the detail
or you have an agenda.
Thank god when crap like this hits we are not tradeable.
No
We always knew they were incompetent lol
Star Rage.
Thanks for posting and read through everything and your analysis seems to have been pretty accurate.
As the judge said at the end it is more about a commercial judgement.t moving forward rather than a judicial one.
Let us hope pragmatism takes over,everyone puts past.thoughts apart and work together and try and salvage something my from this mess
I agree zip, but I didn’t like the bit where he wrote that claiming Hope neglected fiduciary duties was a case of the pot calling the kettle black.
NOMAD resigned 2 days after FRR were told the draft findings....
Star, you said, "Let’s see what Frontera say".
Do you think we will hear from them!?
The last sentence is pretty clear...the commercial merits of the business are huge and he's basically saying sort yourselves out ffs..
This is the ruling on the case heard on 22nd Jan. So what is todays case about? A commercial compromise?
We are still very much in the dark (very dark, pitch black)
Hope has won so it's over to him now and I think the chances of PIs coming out of this are slim, but await details of todays hearing.
Frontera group appears to have considerable market value despite the present dispute. It is unbelievable that outrider would take steps to be calamitous to his own interests...
Absolutely farcical. Also the judge writes like a bloke who really took pleasure in trashing our company. What a horrible document to read.
But page 18 is so clear. Now I’m lost! How can anyone come back from that judgement?