Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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I agree with many that Shatner called it wrong with the 2nd now infamous “Game Over” comment. No change from where we were before, other than we’ve moved further down the road in NY. Fingers crossed it’s the beginning of the end. I suspect it was a genuine error from Shatner, which I’m hoping we will all be able to laugh about at the mega-bucks party in the summer. GLA. Interesting times...
Ziggy - If FTI go after more information via a subpoena and there's enough money in the bank accounts, IMHO PWC will accuse them of running up unnecessary costs. IMHO they will therefore look at the bank accounts first.
Mad , As I posted earlier interesting why our men did not oppose and hope your theory as in last sentence of your 21.47 post is correct
Mad , yes agree they could request whist case was in Caymans , but as outlined in their initial papers to US court they received very little in way of responses. Now they can request info via subpoena if required.
Ziggy - FTI were able to request information since the process started in the Caymens. IMHO what they couldn't access were the bank accounts held by FRCC or it's subsidiaries in the US without approval of the US courts. Hence the US Bankruptcy Courts have Chapter 15 which is designed to help when the process involves foreign companies. IMHO if the accounts have enough to cover the debts the process should conclude quickly.
Shatner ...your talking ballorks this is nothing to do with liquidating group and far from game over.
Nothing unexpected in this document , its just continuation the process that started with DTI getting liquidation of FRCC brought under the supervision of Cayman Court.
They have now been recognised by US court and as their initial submission to same requested last year , the document outlines they are now entitled to gather info from our men .
Whilst expected , its still concerning as reason clearly is to seek out validity of asset move .
What is unknown is why our men did not contest the order ...lack of funds...grounds maybe , or is Mads theory correct ....we shall see.
Fat fingers. Previous post continued -
'After the compulsory liquidation is underway (that, I think, is from now), the process of selling the company's assets begins, while all litigation involving the company (FRCC) usually ceases. In other words, any legal acrtions taken by creditors are considered void once the liquidation has begun as the company is in the process of being closed down and will soon cease to exist as a legal entity.'
So FRCC is now only a vessel for the liquidators to sell off/dispose of FRCC's assets. For all other purposes FRCCis now dead. I hope that that is what we were waiting for!
This appears to be the NY courts formal declaration of the liquidation of FRCC (note - only FRCC and any minor subsidiary companies, NOT FRC or any other Frontera company such as FRUS, FRGE, etc.)
What does it mean? I don't know any more than anyone else here. But there is this info. from the web site of liquidation specialists www.realbusinessrescue.co.uk :-
'After the liq