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When your plan fails, and your back is against the wall like our current situation for LTH's.
The fight will continue in the UK courts. The only thing to do now, the only option is to STAY HARD!
It was nice chatting with you guys.
Anyone who predicted that UK administration wouldn't be a walk in the park - it looks like it will be with Alixpartners appointed as administrators. Correct me if I'm wrong but those cats are on the lenders' payroll.
‘The fight will continue in the UK courts. The only thing to do now, the only option is to STAY HARD! ‘
Please don’t pin your hopes on this mate. Although the size and scale of this failure magnifies the situation there is nothing happening here that doesn’t happen in bankruptcy proceedings every day of the week. It’s not some massive scandal, no one has stolen anything from anyone. It’s just what happens when you borrow too much without the means to lay it back in the timescales required.
So a simple question
How can the Cineworld continue to operate in the UK where is the revenue income going and who's paying costs and staff salaries etc?
Wolf, just out of interest, does the stock need to be cancelled in this situation before one could unlock and keep his money made from shorting? If the newco comes to market and the lenders will start losing value and their money for real (not hypothetically like now), it would be perfect time to short. My question is should I wait until the newco crumbles or try to get out a couple of weeks before that happens?
Rep - it's all going to and coming from the new company once all the assets have been transferred across to it though it may be a little messier than that until this actually happens (but I think it should only be days, if that, as it's one of the first tasks of the administrator I think and everything has been lined up to take place 'promptly'). In fact it could all be seamless in practice?
5th amended plan is in on kroll
Yes Cause I AM HARD!!!!!!!!.
Wolfie..."you're" always quick to comment. (caught myself this time.... :-)
You see Wolfie... just because something is legally right , doesn't make it morally ethical.
Change does not happen unless noise is made and politicians are engaged. How long will the
people put up with Companies screwing over shareholders, while given a fresh restart to recoup ?
I am a US citizen and have written my local legislators to start discussions. What went down here is not right. Change is needed.
I took and held an "L" this time, but something about this just doesn't sit right with me.
As previously mentioned, lesson learned I lost a lot of money, but the interesting thing was....
I actually did not have to get a second job.
I actually got a new job with a base pay of 160k plus benefits. This was literally lambo money
I was trying to flip, but ended up on the wrong side. Literally only 1/5 of my overall portfolio.
While a significant hit, not that disruptive, big picture.
I wish the best for everyone else and hope they take the lessons and move forward. S&P 500 ETF is the best way to go!!!! It's boring, but steady and slow, and has an amazing historical track record.
And for the record, I am still down to pursue these CINE A**holes in the UK courts. A pennies on the dollar settlement would make me whole, in reality, as I came in on the back end.
Mr Kioto - there is nothing to pursue. The law is what matters and the plc has assembled the best corporate lawyers in the land. Your moral and ethical point has some merit. Although I would say that someone who views these issues in this way probably shouldn’t be investing.
Or if you are going to invest at least research what your share represents what rights it gives you and more importantly what what rights you don’t have when things go bad. That way you would have been more fully prepared for this outcome at the outset when you invested in what was a very high risk situation.
‘Wolf, just out of interest, does the stock need to be cancelled in this situation before one could unlock and keep his money made from shorting? If the newco comes to market and the lenders will start losing value and their money for real (not hypothetically like now), it would be perfect time to short. My question is should I wait until the newco crumbles or try to get out a couple of weeks before that happens?’
My assumption would be that they just walk away and their position is cancelled by their broker as there is nothing left for them to return to their lender.
Stanleypro, is there any evidence of Alixpartners being on CINE's payroll (as is alleged, just covering my a** here!) It will be useful information for the Shareholder Group to pass on to the UK legal team (who will be appointed today - we have a final call with one of the firms this afternoon).
Ps, the law firms we have spoken with have said that now (i.e. once the administration process has formally begun in the UK) is when we can actually take action. First step is contesting the official valuation, and providing our evidence that it was inaccurate and done in bad faith. We have letters and information to this effect good to go; once the law firm has been chosen, we'll be letting fly.
Nice mate hooe we get sorted
Hope even
Chipstaker - they have been working on this the whole way way through with a Cine. Google it it’s well publicised.
.
Excellent chipster