I assume the advice given to SN et al was sound and due to a lack of parent co. guarantee the creditors cannot go after their licenses. Although if the money was received in bad faith that won't look good but with SN being connected to one of the creditors surely that will be in FRR's favour too. Ultimately the creditors will know FRR's production targets for YE16 and YE17 as will the courts. They'll also know FRR has never hit a target so the odds are they won't hit these but the plan is to monetise the assets before possible full scale development (or asset sale). I don't think SN is reluctant to release news due to the creditors but due to and market not reacting to good news until the CLNs have been cleared up and removed from the balance sheet. I hope it's clear cut, companies lending to individuals can sting them with small print and be unscrupulous so it works every which way.
I hope we can have clarity ASAP and it doesn't cost us too much in fees.
Do we know the breakdown, how much did the Nicandros trust lend and the others? Also with 10% interest, how much interest have they earnt?
4 expensive lawyers for an open and closed case!!! so looks like some work need to be done and either the plaintive is confident in his position or the reverse knows he can't win. FRR must be worried and may need another billion shares to pay the Lawyers - I wonder if they will accept shares as payment. This is going into 2017 before we see any positive (assuming they are any). Hummm - If the plaintive/s win then all of the assets become theirs as we are not valued enough to cover the debt. So - SN's daughter is one of the plaintive/s is she not!
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