Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Glad you guys mentioned posting problem.
It's been difficult to post all day.
Re assets, absolutely but they won't, Fosun and the Turk positioned themselves for a reason, this was all decided weeks ago imo.
There must be a technical issue with this site.. its happening to everyone
If Govt has to repatriate all assets sold should go straight back to Govt as its our money
Well there is no guarantee of that. Stuck between a rock and hard place.
surely the government would be first to be paid once assets are sold off?
How much did you lose on DEBS?
If only the UK Government had bailed out Debenhams
get the credit swap guys to buy it once its liquidated !!!!!
£600m is a lot of money for nothing in return. If they pump in the £200m, it will save £400m with the possibility of recovering the £200m in the future, but I doubt it will since TCG seems to be a money pit run by a bunch of clowns.
Gov knows repat will happen a bit later even if they bailout now, so why pay £800m when you can get out now with £600m
lesson learned = monitor these shoddy businesses more carefully
auditors fail again
good luck on that
none of the BOD will lose anything personally
Usually with a bank you can turn things around since the working capital and equity are mainly cash. Not so with a travel company. I feel very angry as a tax payer at the BoD. But the choice is the government providing £200m or they rescue passengers at a cost of £500m. I prefer the former, but I also want the equity holders and BoD to be wiped out.
we bailed out RBS and the CEO ran off with millions, legally
I am not sure they want to, the Monarch rescue cost £60m, they estimate that the TCG efforts would cost £500m. Unbelievable the BOD trying to force the government to act. The government should do a Northern Rock on TCG and wind it down.
The government should let the business fail. It cannot be right to use tax payer money to bail out debt ridden and badly run companies.
These mug punters seem to think that their dumbass penny stock bets should be underwritten by HMG
if you don't like capitalism vote Corbyn he will nationalise businesses and keep everybody in jobs just like Soviet Russia
In the Times, “more likely than not to enter administration”
A sad day indeed, but nothing to do with shorters, they didn’t rack up billions in debt and hire incompetent managers/Directors. Sorry too to anyone who looses money if admin does happen, but there have been plenty of warnings from the company and in the press and plenty on here saying salvage what you can, so anyone with money left in here now only have themselves to blame if it collapses.
a sad day? much worse things have happened
anyway Fosun taking over means it is no longer a UK company
It will be a sad day if TC collapses as this is a UK institution and one of the largest holiday companies in the world