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Phil
I understand your frustration but let me be honest. I’ve worked in China for the last 12 years and it’s not like Ronseal Varnish. It isn’t what it says on the tin ( if you get my drift).
Business ethics has nothing to do with the law and legal rules. If you mean that China and Russia have better trading laws than the West then I don't think so.
Was just reading about the evergrande scandal on the bbc and I had to laugh when it quoted the Chinese security commission stating that they intended to fight with 'teeth and horns' to protect small investors.
Honestly....from what I have seen with our markets over the years, I think china and Russia has more business ethics than our so called democracies😂🤷♂️
Chas,
Unfortunately they would be well prepared to defend themselves and they are not going to reply with anything to excuse themselves of any responsibility. It's up to us to LEGALLY prove with hard evidence there was a criminal reason for it.
Would love the Courts/Regulators to ask the JV why this did not go ahead
Pulling a plug off a JV happens all the time in world markets. It's not a crime in itself. But doing it deliberately and with a plan to fraud, that is a crime IF YOU CAN PROVE IT in court
IF it is the case that a lender scuppered the JV then I presume it must have been the SL rather than Anavio.
Having their loan secured on the assets means that if JV acquired a big chunk then there are obviously less assets.
I also presume the JV wasn't offering enough to clear the SL debt.
Yes, but leaving aside morality and ethics, what is the hard evidence to prove they acted ILLEGALLY?... If there is hard evidence there was illegality, fine. And I am not asking to reveal it in a public forum as it might jeopardize investors' case... Let's keep calm and focus on the legal aspect and its PROVEN EVIDENCE THAT LAWS HAVE BEEN VIOLATED OR BROKEN, which is what it counts in a court of law.... We all know all sorts of court cases where the guilty party walked off scot free only because of the missing little tiny detail could not be proven
I think the reasoning as regards the JV has been clearly stated on the CAG website.
I would encourage all to read the site every word, back to front so as to speak, many of your questions will be answered there.
As regards this specific question about the JV this is what is stated on the website.
"We know that Joint Venture discussions were going on for around 15 months before things fell apart in December 2023. But perhaps what some might not know is that Heads of Terms were agreed with the JV Party in September 2023 and it was then that the lenders got greedy and caused the problems to ensure they benefit from all the upside.
There is clear evidence that shareholders have been lied to and been misled."
We categorically know that the Board and players involved have acted immorally, unethically and likely illegally. In terms of corporate law it seems the idea of good governance did not even occur in the rulebook under many of these involved.
Importantly, what most human beings would regard of others as being of ANY valid worth to a human society, I think we can all see that most of these involved add NOTHING to society, nothing at all. They are as many would say worthless to society being nothing but parasites feeding of the backs of those that have tried to get on and get along.
the key point is the debt burden led us here apparently officially however the debt burden has been revealed as a lot less millions from the in excess of $135 million us dollars (other statement in rns says $130 million) then in same rns says 135 million secured obligations to circa 81 million us dollars including secured and all unsecured in the creditor list submitted to court. the judge has to see the debt burden has been overstated significantly. on top of this he should be asking what was the figure used to value the assets in order for the company to state the debt was in excess of the value of our assets? nothing adds up. i see from tr affidavit which simply deals with pk appointment that he very much is making excuses that the financial department was sp****…what after rg suddenly left well he’s the chairman and has presided in this capacity in a very short time over the company’s demise - does this look like a good advert for him?. if you’re chairman of the company basic info is knowing the value of your debt versus assets held. he made several statements to the markets and to shareholders which are now not adding up. either the creditor list submitted is incorrect or the figures we were given via rns are? which is it copl? in the 10/1 rns to shareholders they bang on about the reprice of the funding from anavio downwards from 4 to 2.6 and mention the depreciation of the share price, now they can see what was going on in terms of shorting from same people at those dates. now critical shorting info in public domain, any logical person would question the sp demise at that time and hopefully this includes the judge as the company themselves have not made any statements or reference to it, which is at best shameful! imho dyor
Https://home.ceo.ca/insiders/arthur-sherman-millholland
Seems recent...
COPL had been in discussions with the potential JVP for well over a year. According to the RNS an LOI had been signed and they were ‘finalising’ the terms.
If the RNS issued is to be believed, cannot see why the JVP would pull the plug after all the time, meetings and expense incurred.
You can only surmise COPL deliberately did everything to discourage. I mean, if you are in extreme financial difficulty, you would accept any reasonable offer, wouldn’t you?
Totally back up Rodney on this. There is a HUGE amount of work going on behind the scenes, let’s not get distracted by this at present - despite the potential issues surrounding non-disclosure and legitimacy, it will not help us with the current battle we are in. Maybe in the future, but not now. Thanks for your understanding.
The fight continues and we, collectively, are landing some clear blows. Keep up the pressure.
Has it been said copl pulled the plug on the JV ,possibly because JV did NOT want any thing to do with carry on,? Perhaps they are waiting to bid ,no hopefully waiting GLA
The RS report was not in the public domain and may be subject to a non-disclosure agreement. If it has been obtained illegally, it would not only be inadmissible were it to be presented at our Court case later today but possession of it by us would likely be frowned upon by Judge Johnston. At this critical time for all of us, I am asking you to drop the matter of this RS report. Nothing in that report can help our case in front of the Court but just having a copy sure can hurt us. Please remember that as well as the common interests we have as a group. We must stay within the law at all times and not be guilty of what we are accusing Anavio and Co of doing.
Further, the proposed SISP is an open and transparent process, and all creditors, should they desire, will have an opportunity to submit an LOI and bid on all or some of the COPL Group’s assets. In the Monitor’s view, the 45-day solicitation period under the SISP is sufficient to allow interested parties to perform diligence and submit offers, in light of:
(i) the availability of the detailed Restructuring Term Sheet;
(ii) the fact that the SISP will specifically be targeting the oil and gas industry;
(iii) the Monitor’s previous experience in the sale of distressed oil and gas assets, and the Monitor’s review of current market offerings which have similar timelines;
(iv) the fact that the SISP will likely receive substantial media attention owing to the public and well-known nature of the COPL Group; and
(v) the need to balance time considerations and them managing the costs of conducting these CCAA proceedings.40 In addition, as reflected in the Cash Flow Forecast, the Applicants do not have sufficient cash or access to funding to support operations during a longer SISP.41 SISPs with similar or shorter timelines have been approved by CCAA
courts in the recent past.
**************************
I would say (iv) the fact that the SISP will likely receive substantial media attention owing to the public and well-known nature of the COPL Group; and
*************************
IS A GUARANTEE - WE'VE HARDLY STARTED...
from copl---bench-brief-of-the-applicants-(comeback-hearing).pdf page 15
I've had no reply from the MP, not even an acknowledgement
Deltalo
thanks for your reply...
Today should be interesting with the judge now having information that shows that the Kravitz affidavit was not accurate!
How do we even know ryder scot did a report could be all part off scam
We're we called project Jackson,,,,,
Canadian Overseas Petroleum Limited
https://www.canoverseas.com › ...PDF
COPL-2021-Project-Jackson-Prospectus-FINAL.pdf
.. prospect and it should be distinguished from ... Ryan T. Gaffney. Faralee A. Chanin. Head Office ... Canaccord Genuity Group Inc. from August 2008 until August
Cut and paste, hla
Alberta Securities Commission
Autorité des marchés financiers
British Columbia Securities Commission
Financial and Consumer Services Commission, New Brunswick
Financial and Consumer Affairs Authority of Saskatchewan
Manitoba Securities Commission
Nova Scotia Securities Commission
Nunavut Securities Office
Office of the Superintendent of Securities, Newfoundland and Labrador
Ontario Securities Commission
Office of the Superintendent of Securities, Northwest Territories
Office of the Yukon Superintendent of Securities
Superintendent of Securities, Department of Justice and Public Safety, Prince Edward Island
Huge amount of addresses ,numbers,,at the end some were,very interesting read,
OSC - Ontario Securities Commission
https://www.osc.ca › filesPDF
OSC Bulletin Volume 44, Issue 42
21 Oct 2021 — European Union and the United States. The CSA ... Gaffney, Ryan Thomas. 5. 2021-10-01. 37. 247,916 ... Canaccord Genuity Corp. TD Securities Inc ...
192 pages·1 MB
Cut and paste above,,,
Four major international investors, Blackrock Inc, Anavio Capital Partners LLP, Kayne Anderson Capital Advisors LP, and Impax Asset Management, most entering the Greek market for the first time, are set to acquire stakes in Terna Energy, following a company decision to increase its equity capital.greek.
Molecular Energies Plc
https://www.molecularenergiesplc.com › ...PDF
Operational Update
2 Mar 2015 — ... Canaccord Genuity Limited ("Canaccord") are each authorised and ... Gaffney Cline and Associates, December 2014. 2) Highest ranking 3-4
Empyrean Energy PLC
https://www.empyreanenergy.com › ...
China Block 29/11 Project
Prospective resources (un-risked) of all three prospects on the Block (Jade, Topaz and Pearl) were independently validated, by Gaffney, Cline & Associates