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Fairpoint Group Share Chat (FRP)


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Sollea
Posts: 3
Off Topic
Opinion:No Opinion
Price:1.00
RE: Daylight robbery
31 Aug '17
Totally agree
 
irredentist
Posts: 29
Off Topic
Opinion:No Opinion
Price:1.00
Daylight robbery
31 Aug '17
How do I make a citizens arrest? These people have robbed us blind.
EdGasket
Posts: 183
Off Topic
Opinion:No Opinion
Price:1.00
RE: Seen a few trades
16 Aug '17
Reported on HL's website too; strange as they are supposed to be suspended. Anyway 1p or nothing hardly makes a difference does it.
dadean
Posts: 139
Off Topic
Opinion:No Opinion
Price:1.00
Seen a few trades
14 Aug '17
Hi am I missing something, I seem to have seen a few trades go through Friday and today at 1p per share on Google Finance, could that be right, thanks
dadean
Posts: 139
Off Topic
Opinion:No Opinion
Price:9.89
RE: Simpson and millar
9 Aug '17
Thank you Aunboy and Sonny for taking the time to reply, greatly appreciated for your explanation information and views. Ref the landlord of the hq, they better hope they get another tenant after being unaccomadating to fairpoint, the economy may not be favourable to finding tenants if things roll over, gla
SonnyBurnett
Posts: 79
Off Topic
Opinion:No Opinion
Price:9.89
RE: Simpson and millar
9 Aug '17
Dadean,

Yes, Fairpoint owns 100% of Simpson Millar and the IVA business.
David "incompetent" Broadbent together with the Simpson Millar top and Doorway Capital have conjured up a plan here to grab the assets, protect their jobs and screw the shareholders.

Doorway Capital are in full control of the entire company since they took over the line of credit. They are very active in everything they hold in their portfolio and they simply refused to provide funding towards the IVA business (Lease issue).
The line of credit from Doorway Capital is backed by our assets so when we can't pay they can foreclose and get their hands on all of our assets.

Simply holding the assets as it is now still leaves the lease contract intact so what better way than to let the entity (FRP) that signed the lease contract go bust. Best way to get rid of the contract and for Doorway Capital to grab the assets.

Normally company assets would be sold to the highest bidder but that doesn't seem to be happening here.
Also, most of the company is still running pretty good, it's just the IVA part which is less than 20% of our revenue now.

From the company press release:

"The Board do not expect this announcement to have a material impact on the planned disposal of the IVA and Claims divisions to a third party, as previously announced on 12 July 2017."

That's even weirder, so even after Fairpoint goes bust the IVA business will still be running? How? From a homeless shelter or will someone else pay for the lease? True Master Plan!

And a quote from the Simpson Millar team:

"It said in a statement: “Whilst we are saddened that this has been a difficult time for Fairpoint Group, it is business as usual at Simpson Millar and we do not anticipate any significant changes as a result of Fairpoint Group’s announcement."

http://www.thebusinessdesk.com/northwest/news/2007617-fairpoint-bring-administrators

Simpson Millar have more than 500 legal staff and none of them were able to find a way to get out of the lease contract?
Anyone who truly believes that is an idiot.

So in the end it looks like the IVA part will still be operational and get sold at some point and over at Simpson Millar it's "Business as usual" while they are predicting revenue growth in 2018.
The only downside is that Fairpoint shareholders lose everything but i doubt Broadbent, the Simpson Millar top and Doorway Capital really give a $hit!

Our only hope is that our major shareholders put up some sort of fight here. Fingers firmly crossed for such a thing.
dadean
Posts: 139
Off Topic
Opinion:No Opinion
Price:9.89
Simpson and millar
8 Aug '17
I don't know how things work but if simpson and Millar was 100‰ owned by fairpoint does that not make us shareholders 100‰ own of simpson and Millar, it was just a couple of years ago that they paid something like 50million for?

Or are they keeping that asset and just dumping the shareholders?
Sollea
Posts: 3
Observation
Opinion:No Opinion
Price:9.89
Butterry
7 Aug '17
Butterry. I'm in the same position just I am sitting on a larger loss. Us shareholders here are being screwed. They have conveniently emptied the PLC for their benefit.
JoeAverage
Posts: 6
Off Topic
Opinion:No Opinion
Price:9.89
RE: Bust
7 Aug '17
Ambulance chasers? Are you sure you did some DD on these Arsene? They don't operate in that market.
Butterry
Posts: 23
Off Topic
Opinion:Strong Buy
Price:9.89
Plan C
6 Aug '17
I have about £5000 worth of shares here.. 1. Could we not re-lease the property to someone? And rethink the location.. To satisfy the loan. 2. Are there not enough retained earnings here to resell for investors.. 3. Can shareholders come together and figure out a plan C? 4. Surely someone could be interested in buying the financial part of this company.. Selling off the lease and paying off shareholders appropriately.. I refuse to believe I should be losing this money..




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