Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I wouldn't be surprised if there was another twist to OXS outcome of this meeting today. It's certainly been nothing like what most of us were hoping it to be. So why not another twist in the tale (as in story).
I think the meeting is today rhodi.
I thought that the creditors where having a meeting on the 24th and that they were going to have proposal/s put to them. No news since fairly shocking and no news via my share acct managers as to any news???
Don't think many of us were aware of this (if that's case) Unless I'm mistaken, the confidentiality statements from the company didn't specifically say that the final report wouldn't be released and none of private investors are experts on the workings of this arbitration court.........
The Directors have 'fiduciary duties', Company directors are expected to act legally, honestly and in good faith at all times. Any business decisions they make should be for the benefit of the firm alone. We need to check that they have acted legally and honestly and in good faith, the only way we can do that is to get hold of the arbitration decision. Page 13. https://www.uncitral.org/pdf/english/texts/arbitration/arb-notes/arb-notes-e.pdf
My understanding is that both parties agreed at the start of the UNCITRAL arbitration process that the report would be confidential and not released. No idea why that was agreed, but that's par for the course here. It seems there are a few UNCITRAL results not released to the public.
the most important one for us! the arbitration report ;)) i can't see Oxus having the power to with hold this so why is still not available to view,what's the big deal?
Which one ?
whatever happens we as the shareholders should be entitled to see the report.
I think they vote on forward action by 31st March. My gut feel is that this is dead now. AtB
In this document it states that a decision on the appeals is still to be made and we will be advised soon. Not sure if they mentioned a date though.
I thought RS wasn't drawing down his wage but the arrears total is only £7000. I'd always assumed he'd be due arrears at some stage. Perhaps he was literally not in receipt of a wage whatsoever.
http://www.bdo.co.uk/__data/assets/pdf_file/0004/1367284/P49-Report.pdf administrators report says that this is done.
IMHO this is f**ked and will be liquidated ! Best of luck on future ventures but this is me for the stock markets...
It was posted on the bdo site
In the last RNS it stated that the Administrators would publish their findings on their website before March 22nd, so all quiet on the western front, this has been one big c--k up with lack of info to us the pi's, anyone know any different?
optimist!
If the international legal framework for arbitration has not been followed as seems the case IMHO. Then they have very good grounds for appeal and a very good chance of success. This was announced for a reason before Christmas as they expected to give our legal team least time as possible to look over it. Even UNICITRAL imho know that the process has been flawed. It does not take 6 years to dismiss the claims completely. This has embarrassed them and I hope the administrators give full and serious consideration to push on to get proper justice and appeal the decision in the French courts which will look at the facts and not IMHO be open to threats or corruption.
Cheers buddy I think you're right :-/ Best of luck mate...
Sorry but it looks like we've lost our money on this one. OXS fought the last court case with borrowed money, no one is going to loan to OXS for an appeal that will cost more money with less chance of success. I don't know how much everyone has lost but this is a dead donkey, the administrators have effectively called it.
Does anyone know when (if) this could be announced ? I think now this is the only route where we will get anything back !
..rebel....the Uzbeks have over $15 billion of foreign reserves outside the country and produce over a million tonnes of cotton pa. which is paid for in dollars. Its like any sort of distressed debt it will be sold for a fraction of its face value - the price is reflected by the risk. Someone might reckon its worth a couple of million dollars if the award was made by UNICTRAL....might take two years to realise through the courts but $10 million for a two million dollar risk...someone would be interested. All supposition for now.
So whose going to buy the debt? and how are they going to collect it? lol
...I guess the ninety days to lodge the appeal will be up soon. I know we debated 90 working or 90 calendar days, but the clock is ticking. I will be genuinely surprised if they lodge an appeal, Calunius / Gretton will have sold on the debt for a couple of $$ million and the file will be closed on shareholders, creditors will be lucky yo get anything after BDO's fees are deducted. I am curious to know what happened to FunkyGibbon, as a holder of a big chunk of Oxus equity, he must have been on first name terms with Shead and must have wanted an answer to his huge loss... If you are out there Mr Gibbon, give us an update or tell us what you think may have happened. Cheers.
Yup agree... All the now lies that was spouted on the rns's..... conned.