London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Sounds that there is no chance to get our money back!
The stole our money and ran away.
Http://atlanticcarbon.com
Nice to see they are all earning profits after ironing out the founding AIM shareholders.....
The bastttttttds got our money and ran away.
Hope karma gets them.
Damn them all.
Just revisiting this chat after many years lol this dead? or still chance for revival?
Companies House shows the company as dissolved https://find-and-update.company-information.service.gov.uk/company/05315929
Started: lucylastic, 3 Nov 2021 08:57
Last post: mebo2, 2 Nov 2022 20:06
Na. Think this is stone dead??
Anyone has got any news please?
The price of coal has been very high!
I wonder if any of you guys get any money back?
Any news guys?
Looks dead to me Hamm
Started: lucylastic, 3 Nov 2021 08:55
Last post: lucylastic, 3 Nov 2021 08:55
Looks dead to me
Started: LittleGreenGaz, 24 Jun 2021 21:59
Last post: Hamm, 1 Nov 2021 08:52
What would happen to us shareholders?
Can we get some money back?
Any ideas guys?
Hi guys, any chance to relist or we can sell our shares? Coal price is the highest ever at the moment.
to my money! ;-(
Started: unvrkw, 29 Sep 2021 08:32
Last post: Grichi, 30 Sep 2021 14:20
A classic example of the cream floating to the top .
(Whatever happened to the trickle down effect)
Whoever got the coal they’ll be doing pretty well right now as the price increases, from admin into the millions, funny that.
Started: unvrkw, 9 Jan 2021 21:11
Last post: mebo2, 18 May 2021 15:04
Probably relaunch on Aim later & con a new bunch of investors
Shares deemed worthless. Removed from portfolio. Massive scam has unfolded here .
Authorities don’t give a fluck.
Adam and blooooodddy best were 2 bassstteerrds. Period.
How can they live by cheating us all?
Maybe a good idea to ask for a result of their investigation??
I'm resigned to think we have been well & truly mugged off ,i now hope that if our investment is a gonna then President Biden makes life hell for them & closes the operation.
Started: Browns99, 13 Jan 2021 10:16
Last post: mariog, 25 Jan 2021 00:00
The loans we had to repay at 15% pa were from his wife account, so is a family business as always. Not necessary he is a failure
Are there ANY plans to de-list this share from AIM so that we might use the loss for CGT?? Why have the LSE let this linger on for so long with no prospect of anything coming back to shareholders??
Started: unvrkw, 24 May 2020 20:29
Last post: unvrkw, 1 Oct 2020 21:12
We don’t have any shares anymore, the company went bust, we lost everything
Dought it,all we can do is if they relist is to warm others not to invest.
Is there any chance we can sell our shares guys?
Thanks
They are bloody basstttds.
God damn them.
Alnost every listed company has a debt. Were they not able to repay it, has the debt maturity date been reached? This company was a leader at the delusting time. Shareholders were told about takeover of another company so nobody sold. Incredible how thus has ended. No court case, no investigation, deal done, shareholders lost all, directors and family happy ever after.
Started: mariog, 18 Sep 2020 01:15
Last post: mariog, 18 Sep 2020 01:15
That relocation allowed them to plan this scam from abroad https://m.marketscreener.com/quote/stock/ATLANTIC-COAL-PLC-4006163/news/Atlantic-Coal-Relocation-of-ACG-Business-HQ-to-USA-23868297/
Started: Browns99, 16 Apr 2020 15:00
Last post: csacs100, 24 May 2020 16:15
hxxps://***************************/2014/03/11/stephen-best-president-of-atlantic-coal-plc/
https://***************************/2014/03/11/stephen-best-president-of-atlantic-coal-plc/
Might be a stupid question as anything back to shareholders?
Error 404. Article on Best is not there.
Say's not found.
Started: krynap, 13 Apr 2020 19:08
Last post: krynap, 13 Apr 2020 19:08
Danie, SVS no longer exists. However, in this case, they acted in good faith. SVS purchase the whole Placing of ATC.
When I saw it, I did the same as my broker; I followed SVS' choice and purchased without their advice.
Probably that erroneous investment added some pain to SVS.
Started: terfur, 1 Apr 2020 22:19
Last post: mariog, 6 Apr 2020 18:10
There was no investigation at all. Just a deal between friendly parties as always on aim.
Extract from Administration Progress Report - 24.2.2020
4. Investigations
4.1 The Administrators conducted investigations into the conduct of the directors and transactions entered into prior to the company’s insolvency, as required by the Company Directors’ Disqualification Act 1986 and Statement of Insolvency Practice 2 – Investigations by Office Holders into Administrations and Insolvent Liquidations. Based upon the outcome of the Administrators’ investigations, there were no matters identified that required further action.
Really! So the BOD were squeaky clean were they? I remember numerous posts here which suggested otherwise. Was there really no evidence of wrong doing or was it all just BS? If the BOD acted improperly or illegally, then action should be taken against them, Administration not withstanding.
Started: TTNY2013, 27 Aug 2019 15:05
Last post: garykc, 28 Feb 2020 07:53
Unscrupulous activity by two "trusted" directors of our company. Would be interesting to see if they have any "interest" in the new entity. Pigs, troughs, crooks and thieves spring to mind.............................
How did it end here?
It may be worth contacting the Live Company Targeting team - www.gov.uk/complain-about-a-limited-company, then follow the link to the complaint form.
The Live Company Targeting team, (as part of the Insolvency Service) deal with complaints/enquiries regarding the conduct of a director(s) who is acting in an unfit matter.
You can make a complaint if you have reasonable grounds to suspect a currently active company of:
causing significant harm to customers, suppliers, etc
breaking the law, eg fraud
serious misconduct, eg company assets have not been used properly
having a significant irregularity in its affairs
The Insolvency Service
Telephone: 0300 678 0017
24-hour answerphone to ask for a form
You can also complain in writing.
Intelligence Hub
Investigations and Enforcement Services
Insolvency Service
3rd Floor Cannon House
18 Priory Queensway
Birmingham
B4 6FD
SEC -Investors complaint US commissions exchange
Email:
tradingandmarkets@sec.gov
Or
Link to the complaint form
https://www.sec.gov/oiea/Complaint.html
can anyone advise me what is Sec? What I need to do??? Please
Started: Danie, 27 Feb 2020 09:26
Last post: Danie, 27 Feb 2020 09:26
I got into atc on recommendation of my broker, SVS Securities. SVS is now in special administration and I wonder what are the chances of claiming compensation from the FSCS on the basis of bad advice?
Started: mariog, 25 Feb 2020 23:58
Last post: mariog, 25 Feb 2020 23:58
How it all ended with the lawyers when conpany was actuve but delisted?
Bod should be brought to the court for misleading and wrongdoing!
Started: unvrkw, 3 Feb 2020 22:13
Last post: Grichi, 23 Feb 2020 12:53
Massive scam has unfolded here . Our asset is now in the hands of a wealthy bank/vulture fund.
Business as usual. Lick yer wounds.
Move along nothing to see here.
it shareholders with nothing which is pretty standard when a business goes under. there is a list of who gets paid first with the money recieved.
now whether you believe there is any connection between the previous BOD and the future no idea. the company how too much debt it declared, couldnt pay and so went into admin.
in theory all shareholders have lost out even the BOD. its not unusual for companies to use admin to remove different debt and obligations and start again? no idea whether this is the case but we stand no chance of getting anything.
Thanx for all the info, unvrkw, but where does all this come from and where does it leave us?
What I understand is that White Oak has bought the assets out of the bankrupt ATC for a song and left the shareholders behind with nothing. Nobody cares and nobody is going to do anything about it.
SSG Capital Advisors, LLC ("SSG") acted as the investment banker to Atlantic Carbon Group Plc ("Atlantic Carbon" or the "Company") in the sale of its equity interests to ACG Holdco, LLC, an affiliate of White Oak Global Advisors, LLC ("White Oak"). The sale was effectuated through an Administration proceeding in the United Kingdom and an ancillary Chapter 15 proceeding in the U.S. Bankruptcy Court for the District of Delaware. The transaction closed in December 2019.
Atlantic Carbon is a leading anthracite mining and processing company with operational headquarters in Hazleton, Pennsylvania. The Company is among the top U.S. suppliers of high-quality anthracite coal from surface mines with property that spans over 2,500 acres of owned and leased land. Atlantic Carbon is one of the largest anthracite mining producers with a maximum operating capacity of approximately 480,000 tons of anthracite coal annually.
While Atlantic Carbon had a strong history of successful operations and continued growth, a recent acquisition of a nearby mining site constrained liquidity which led them to trip loan covenants. Upon receipt of a notice of default from its lender, Atlantic Carbon opted to initiate an Administration proceeding in the United Kingdom to protect its assets and continue as a going concern.
SSG was retained by the UK Administrators to conduct a comprehensive marketing process and solicit offers for the equity interests in Atlantic Carbon. The process attracted significant interest from several domestic and international strategic and financial parties. A credit bid from White Oak was ultimately determined to be the highest and best offer for all of Atlantic Carbon's equity interests. SSG's previous anthracite coal experience and special situations sale expertise enabled the Company to continue operations as a going concern, preserve over 150 jobs in Northeast Pennsylvania and maximize value for all stakeholders.
White Oak is an investment advisor and private credit firm that provides small and middle market businesses with term loans, asset-based loans, invoice factoring, trade finance, equipment financing and treasury management.
Other professionals who worked on the transaction include:
Alastair P. Beveridge, Simon J. Appell and Clare L. Kennedy of AlixPartners UK LLP, Joint Administrators for Atlantic Carbon Group Plc;
Seth Schwartz of Energy Ventures Analysis, Inc., restructuring operator for Atlantic Carbon Group Plc;
Graham Lane and Iben Madsen of Willkie Farr & Gallagher (UK) LLP, counsel to the Joint Administrators for Atlantic Carbon Group Plc;
Pauline K. Morgan, Sean T. Greecher and Jordan E. Sazant of Young Conaway Stargatt & Taylor, LLP, counsel to Atlantic Carbon Group Plc in the Chapter 15 proceeding; and
Deyan P. Spiridonov, Andrew V. Tenzer and Shlomo Maza of Paul Hastings LLP, counsel to ACG Holdco, LLC and White Oak Global Advisors, LLC, as Administrative Agent.
Started: Margarito, 8 Dec 2019 18:20
Last post: Grichi, 30 Jan 2020 17:58
Any news on the SEC investigations into the wrongdoings of the ATC board?
Had a small amount in this which I wrote off a while back to be honest. No real surprise whats happened here to be honest, AIM is littered with shysters such as the ones running this company. Commiserations to all who've lost here.
Started: Danie, 31 Oct 2019 12:32
Last post: krynap, 13 Nov 2019 18:57
SVS itself purchased the whole load as Placing. that's why I followed them as a route for gains. They must have lost a lot here. My other assets are frozen, no access to my account. If you know anything, write to me...
Thanks krynapatgmail and then dotcom
I bought my shares in ATC on recommendation of my broker, which is SVS Securities. Now SVS is in special administration for misconduct and all my assets are frozen. I am just wondering if I, and others in the same boat, could perhaps claim compensation from the FSCS, based on the argument of bad financial advice? Anyone with experience of this?
Started: Danie, 30 Oct 2019 05:00
Last post: unvrkw, 31 Oct 2019 09:10
They’ll have followed legal law whether you like it or not I’m afraid. That maybe far different from expectations however they only need to do the minimum. The independent/new ceo will demonstrate decisions made by him, previous bod sit on side lines doing nothing wrong but demonstrate they can continue the business as a going concern and buy out for a fraction with less debt. This isn’t unusual nor alien to many businesses and the risk increased by literally being so far away in different legal jurisdictions
Eff all
What is happening to our complaints to the SEC? Does anybody have any info?
Started: mariog, 25 Oct 2019 09:51
Last post: unvrkw, 29 Oct 2019 13:14
Every trace of the business will go, it’s who does admin sell the business to? It’s usually the closest ones who offer to keep jobs going ie going concern. In this case it probably is with some debt gone. So I suspect close aids of the bod will buy it for not a lot, bod loose all their shares like us however the new business moves on
Think its a bit late for that mariog. Our company has been stolen from us and the regulators/administrators could not give a toss about it!!!!
Administrators should also look into events prior to delisting to see the real scam and stop this robbery before is too late!
Started: szynd, 4 Oct 2019 16:41
Last post: szynd, 17 Oct 2019 14:46
Hopefully mines running as usual Debt be in paid down once the mine mines is sold depends what’s left of debt and what they get for it? If it’s a going concern they will get for it.
How much debt is there anyone have the figures??
Because it’s a massive sham and always was. More often than not aim companies are. They only benefit those at the top and the institutions. I have lodged my concern with the relevant (authorities) but won’t hold my breath. They are there to pay lip service at best.
Once again Aim turne's over the small investor,no more Aim for me.
I am confused! How can the administrators claim that there are no funds for shareholders if the mine continues to be run as a business entity and presumably continues to be profitable. Is this purely to allow the lenders to get their money out, and if so why can't the business continue making a profit for the benefit of all of us?
The business won’t stop trading just admin to clear debts and start all over free. Not unusual, not illegal just **** for everyone Involved bar the bod of course
Started: terfur, 23 Sep 2019 11:10
Last post: terfur, 23 Sep 2019 11:10
Just found my share certificate and would like to join in the action. Details are:
terfur25@gmail.com
Quantity - 2,050,316
Cost - about £4,500
I was hoping these might just about pay for my funeral plan, but it looks as though the missus will have to black-bag me after all. Let's hope we get something back. Good luck to us all. Do we have specific grounds for our complaint to FCA apart from being misled? Company directors (and politicians) do that all the time! Trying to decide how to formulate my letter to FCA, etc.
Started: penny01, 20 Sep 2019 06:25
Last post: penny01, 20 Sep 2019 06:25
To all those who are wondering and asking the question is the mining operations running. They are running as usual. For about 1 week in the beginning of August it seemed to shut down but everything went back to business as usual. I know because I live right on the road they travel between Stockton site and Jeansville site.
Started: krynap, 6 Sep 2019 16:12
Last post: Mr_Dangerous, 18 Sep 2019 23:56
Hi all,
As below is it too late my 1.7 mill
Wheresdangerous@hotmail.com
Regards
MrD
Hi, is too late to add my details?
Shares: 283,786
£5000
Sandkc1@outlook.com
Thanks
I found in my correspondence this amount of ATC shares: 1.297.671 Cost unknown as I can't access my account at SVS Securities.
krynap@gmail.com