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My opinion on this situation.......
Palmer made a bad desperate finational deal with these guys......
Stroll has had previous dealings with these guys.. .. He knows there corrupt. ...
Toby is not happy about the Palmer deal.. which leaves AML worse off... . Yes I believe there's more to this deal than we know....
..
So... Toby being Toby... he found a legal way to break it..........business...
Doyezee asked why I found the law suit disturbing. My supposition is that AML is not the only party suffering a loss here regardless of how valid their claims may be. The doctors seem to be heavily invested in Aston Martin St.Gallen in Switzerland. Just take a look at Nico Roseburg touring the place in the Valkyrie YouTube video. That's some money to build that place. According to Nico it is the largest Aston Martin dealer in the world. Not something the doctors would want to loose. AML will also have to replace those sales with cars sold off some other dealers lot if they pull the St Gallen license.
I suspect that recovery of the deposits is not the whole story here but rather an attempt to renegotiate agreements now that the mid-engine cars are soon coming to fruition. Getting into legal battles that can drag on for years may not be ideal from either a cost or time spent perspective.
@Ishi99 - Most on here would agree with your view that AML is in a much better place today.
As lockdown rules continue to ease over the next few months things should improve further.
Cheers, Paul. :)
Aml_007
I am not surprised, I was sarcastic.
I am just trying not to hate or get winded up.
Tbf I couldn’t care less what others think of this share price or the company. My only interest is for the management to have the highest regard for the brand and it’s welfare, and for them not to mess up.
After 1 year I am very happy with the companies progress. And it would be very difficult to argue why the current situation is not A LOT better than 1.5 years ago.
Every promise up to this point has been kept by the new management. Inventory of great/sport cars are very low compared to 2019. There are almost 0 new cars in uk, 200 gt/sport cars in USA, (I can’t find an estimate for EU or China, but I would assume it’s around that.) So that agrees with managements 500-700 stock cars at one time globally.
Furthermore, Balance sheet is far stronger because of refinancing loans, and capital raise over the year.
Yes anyone can argue that the interest payments are large, however there is nothing wrong with debt until it’s managed and can be repayed or re financed, and hopefully if results progress it will be refinanced on a much lower interest loan later.
All this all is obviously my OWN opinion and therefore nothing should be taken as true or for granted.
@Ishi99 – Why are you surprized that @c2645sg failed to highlight the positives, they never do.
However, based on @Doyezee’s replies on 11/06/21, @c2645sg bought some AML shares @ £22.
(I filtered @c2645sg a long time ago.)
@c2645sg constantly states how much better informed they are compared to the rest of us.
(Based on pre-filtered posts and the replies of others since.)
Yet, despite all @c2645sg’s ‘Glass half empty’ posts, he thought £22 was a good entry point.
Given @c2645sg claims to be an expert investor, what SP does that suggest AML will reach?
(A 10% RoI = £24, 20% = £26, etc.)
Again, based on @Doyezee’s reply, @c2645sg sold his £22 shares 10 minutes later.
Which means @c2645sg either:
- Posts all the negatives, but keeps the positives to themselves (LT AML SP is > £26).
- Has no more idea about what they are doing than the rest of us.
- Is a Troll.
Either way, I’m not losing any sleep over missing out on their posts.
Cheers, Paul. :)
If you put it that way, I wouldn’t be able to choose ??. I would stay clear of all this ( in terms of betting).
The question is, did the dealer breach any regulations that were signed between dealer and company, and whats under the nebula project ag hood.
If AML win we are back to square 1, nothing gained, nothing lost.
I might be wrong, but I know who my money is on between Palmer and two ex surgeons from Switzerland.
Yes c264
However you failed to highlight what happens if they win…
You know the positives…
In this case I very much doubt Aston’s senior management including Moers (who has been in automotive industry for 25 years) and Lawrence Stroll who has been to court countless times, would waste resources if they think they will:
A. Lose
B. Not worth doing
There has definitely been some serious strategic thinking that’s been done (IMO).
It seems to me if, the st Galen dealer really did breach dealership agreements that were in place with Aston, then that would seem the likeliest reason that Aston would assume they can tear up past paperwork. So it is definitely more than just the Valkyrie project.
This info is stated in online sources (before someone starts questioning some of my facts).
Can you not read Doyezee?
"The carmaker will take a £15m hit to profits this year and book a further undisclosed amount next year, it said in a statement.".
Undisclosed could be anything.
And if AML lose the they get nothing, plus they have to pay court costs.
A pessimist is a well-informed optimist. ;)
Not sure why you think the legal case is ‘quite disturbing’ Peter_van? It’s a dispute (and a small one) in the scheme of things which is a very common occurrence in the corporate world and nobody other than the parties involved knows the details or is privy to the contracts themselves. Aston are the ones who’ve initiated proceedings so from a legal perspective, must feel that contractual breaches have occurred by the defendant or that Aston themselves believe they have not breached contractual obligations in their actions. Either way and whatever the outcome £10-15 million (the amount in dispute) is very small in the scheme of things. This is more a point of principal/legal definition/contractual obligation and I doubt will drag on for long at all. It will have no impact of significance on the company or it’s share price IMO
https://www.autoevolution.com/news/aston-martin-sues-swiss-partner-for-keeping-10-million-in-valkyrie-deposits-163759.html
Interesting read.
I would say this is quite disturbing. I doubt AML has the right to unilateral cancelation of royalty payments after the Swiss dealer put monies into the development and still has no deliveries of finished cars.
Trust me, if you knew how long I have been invested, and hoping for the right people to come along and sort this mess out at Aston…
Longggg time
Exactly. Just chill and let Stroll do what he’s proven at doing.
PLEASE don’t listen to that cretinous idiot C3PO. Who I think is probably one of the old team that was working this board, WhiteGhost, 3300 etc etc
This whole situation reminds me of what Rolex does to AD’s who defy their price and selling regulations.
Takes away their AD statues.
I have been through a 2 year litigation at the Royal Courts of Justice against a former corrupt colleague. One thing you absolutely need, to go through litigation (which is what this matter will be) is deep pockets and top lawyers. I’m sure Stroll has those covered comfortably. If he didn’t think he could get a result from this, he would have settled behind closed doors IMO. He knows exactly what he’s doing ;-) Don’t think it will have much of an impact at all to the SP, if any.
Court battles are unpredictable.
But I think Aston has a strong argument, based on what is in the news. I want to see what the af ag dealer board say later.
And if that's true Ish, with Stroll's Lawyers fighting the case we'll get the money back and we're then in a win win situation.
Yes.
The News online and I think RNS also stated that the Swiss dealer also broke their agreement on some car sales other than the Valkyrie. They basically didn’t adhere to dealer agreements.
I don’t know all the background stuff but I think Aston has a strong case here.
I've been following what you've all had to say about this deposit theft with interest. Personally, I think it will just be a storm in a teacup for us...very quickly forgotten. Stroll is lumping the loss into this quarter which wont look great added to the interest on results day... but the city will be expecting it. I think the the most important thing to us LTHs moving forward, as Ish said, are the car sales which are improving. It's best we get the bad news over now so we are still primed for improvements in H2 when valkyrie and the DBX hybrid are released. We will also see sales from speedster coming through in volume. I thought a couple of positive from today's news were yesterday's huge sales speeding up Adeem's exit and the fact that in the long term we now stand to make even more money from valkyrie. Also, we may eventually get the £15m back once Stroll's lawyers have done their work:-))
There is 0 effect on the sp from this news (seems to me).
What ever is going on behind the scenes there might be a little “power show” which might be the entire point of this.
Going back to earlier posts I don’t see why some people are saying that q2 results will be “bad”. Maybe they are losing money, but they will IMO sell more cars.
I am basing my last sentence from data on car websites including auto dealers “new stock” levels
Including the fact there is barely any new astons for sale in the uk now.
IMO The hardest market for them to crack will be the USA one. They probably have the largest new stock inventory. But half of the inventory are the dbx suvs, so they should be able to shift them more quickly.