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Including us Jeremiah
apart from a few squeaky bums on here that are sweating
If FRR fail officially Ill log the loss with HMRC and use it But I dont think thats going to be required to happen folks
we are in Crunch time now good luck to all
cheers
Aurora
Good post Ziggy. I think most creditors will have arrived at the same conclusion that we have, that this is a complex geopolitical situation involving large resources and needs to play itself out in its own sweet time, with important events likely to follow the coming election. They will know that FRR are currently potless and you can't get blood out of a stone so they have no choice but to wait and hope that things finally go our way for a change.
Don't forget XTO had $10 billion of debt when Exxon snaffled them up.. If a major player wanted us, our debt is peanuts to them..
My simplistic view on Company situation / actions to date .
My day job for the last 30 odds years has been in the Builders Merchants game .
As you can imagine in that industry bankruptcy, liquidations etc , are an every day occurrence, think local builder through to Carillion .
I have had dealings with many cases over the years , many of them with full order books but obviously all lacking cash flow to fund the now, never mind the future.
Irrelevant of wether the Company / sole trader got themselves into the position or were forced under due to being a creditor of someone else who failed , ( you could say equivalent of our politics issue or combination of both ) there is generally a reoccurring theme .
That is once the merdi is about to or hits the fan they will do anything to protect THEIR interests and avoid the final reckoning . Tactics used will include hiding assets , transferring them to new companies , going underground , ignore correspondence , make false promises , make false statements , hide money , spin out legals and on and on and on .
Often of course , they put the blame for their situation on some one else , often a director / partner who is no longer about to face the music in person , he’s done a runner .
I obviously have never been involved with a case that involves the politics that this one has , and very clearly those politics have had / continues to have an impact on our past & future situation .
However every thing else we are seeing here re debt avoidance ....nothing new, all par for the course .
Its gone badly wrong for the Company , and it seems they are now / have been , acting as a typical Bob the builder does when he cannot pay his debts .....for whatever reason ......and his creditors generally after many false promises , decide enough is enough .
There may be stuff in the ground , we may still own it , we may not, but one thing is certain , at some point we will run out of options as we cannot avoid the final reckoning with our creditors in the courts indefinitely .
Assuming FRR ( and hopefully shareholders ) still own something of value the only question is do we have enough time before the the rug is pulled .
30 days until the Georgian Election.
https://www.timeanddate.com/countdown/halloween
According to the IPSOS survey, 25% of the respondents would vote for Georgian Dream, 15.5% for National Movement and 5% for European Georgia
https://www.interpressnews.ge/en/article/109293-according-to-the-ipsos-survey-25-of-the-respondents-would-vote-for-georgian-dream-155-for-national-movement-and-5-for-european-georgia