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Obvious questions are
1). % chances of positive outcome for shareholders
2) If winning result then when % chance of actually funds being retrieved from culprits so as to compensate shareholders.
3). When does no win no fee kick on
4) Gurantees no more cash calls after 1st stage or when / if the first £150,000 raised is used.
5) Expected time scales.
These are a few of the questions that I would like put forward.
Thanks all for the hard work to date. 😮
Received information from Michael Cotter, we are very fortunate to have his services & I'm most definitely contributing towards the necessary costs involved.
Same here. Looking forward to the zoom calls.
That said, I’m a bit suspicious about the quality of our lawyer here due to the questionable writing style. Not wishing to be a grammar nazi, I’d expect a high degree of literacy from a lawyer heading up a class action suit with over 450 clients. His writing is atrocious and he clearly doesn’t know what a comma is for or how to use one. These aren’t informal messages between mates, this is a lawyer communicating with clients.
Anyway, I’ll try not to judge a book by its cover. I’ll be on one of the calls.
All good, received this morning!
Not had an email since my details were acknowledged.
Nothing and no answers to questions.
I’ve received the first email from Michael Cotter (and the update one) but I’ve not received anything about the zoom calls which Michael said he hoped to send on Friday (yesterday). Has anyone else received this?
Bob, did you read the email? If you did let’s wait for the teams meetings which was what is required so all can get an understanding.
I'm miles behind. Has it been agreed how much we should contribute to the initial Cotter Assessment?
RB no worries - all good from close to the Borders
So does that mean it’s all done and dusted and SL have the asset?
Apologies, just found it in spam folder.
Denarius
Afraid we have not received that, could you please resend to coplsharewatch@gmail.com
Thanks
Mr Justice Yamauchi spoke at length with Mr Pontin representing BP at the Hearing at the end of which Mr Pontin thanked His Lordship admitting the BP Affidavit and for not construing Mr Pontin's submission as a sleight on the other Counsel in attendance. There is no right of appeal and all parties concluded the Hearing as per protocol. That is what happened and no objections were made.
Ryan, after posting here for just 48hours, please stop repeatedly telling CAG what we should be doing and what our priorities should be. Thanks.
Brilliant Denarius, the priority for the Cag has to be to stop this process first before anything else then see where we go from there
Cag might have done this already as I sent info to them yesterday —but had no confirmation .RB may I leave this for you to coordinate ?
Denarius1 - good work. As they want to speak to other creditors, connect the BP rep Derek Pontin with Jinny Kim.
Email: derek.pontin@dentons.com
The OSB will have the powers to intervene before this gets rubber stamped. A stay might allow BP's case for a more adequate SISP to be heard properly.
It’s on a PDF. But address is Headquarters
Office of the Superintendent of Bankruptcy
via 235 Queen Street Ottawa, Ontario
K1A 0H5
osb.ic.gc.ca
I fully intend to take up Mr Cotter's offer. Whatever happens, this criminal activity needs to be investigated. I particularly like the PR element of his campaign. Those characters like to operate in the shadows. If there's one thing they don't like, it is the bright light of publicity being shone on them.
Denarius1, this looks interesting. Please post again with their letterhead, contact details etc, so CAG can follow up if necessary. Thanks.
Acknowledgment of your Complaint
In the matter of the proceeding of Canadian Overseas Petroleum
Limited (COPL), et al. Estate file number: 25-095449
FYI I received this yesterday .
This letter is to acknowledge receipt by our office of your correspondence dated March 17, 2024 addressed to the Minister of Justice and Attorney General of Canada, the Honourable Arif Virani, wherein you outline concerns in the above estate.
The Office of the Superintendent of Bankruptcy (OSB), under the overall oversight of the Court, exercises independent statutory supervision of all matters relating to insolvency proceedings in Canada. As such, your request was forwarded to the Major Cases unit for investigation.
Given the role of the Superintendent of Bankruptcy, Elisabeth Lang, as a potential decision maker under subsection 14.01(1) of the Bankruptcy and Insolvency Act (BIA), the Deputy Superintendent, Integrity and Enforcement, Kirti Manek, will be overseeing this matter.
Therefore, Jinny Kim, Senior Regulatory Investigator, jinny.kim@ised-isde.gc.ca, will undertake an investigation of the issues and reply directly to you within 30 business days of the present. Should the investigation require more time, you will be advised within that period.
The OSB in accordance with the principles of procedural fairness and the provisions of the Privacy Act, supports the principle that the party being investigated should have an opportunity to respond to the concerns raised. Therefore, should the need arise, your identity may be disclosed and the content shared may include the unedited version of the complaint. Furthermore, when the
Reference Number: 24-005085
OSB needs to contact other parties (e.g., LIT/Monitor, debtor or creditor) to investigate the concerns raised, the information you have provided may also be shared with them.
Thank you for bringing this matter to our attention.
Just a few words to put things in context. At Hurricane Energy, I don't think that legals were as complex as they are here (and ours have only just got started in relation to our Class Action). There are reasons I mention this. First, Hurricane announced their legal fees back in 2021 - around £17 million. Secondly, the legal fees already accrued over the last few months by the various parties will be many millions of dollars based on the above. CAG has Michael Cotter working on a no win no fee basis but with a hard fee payable for KC or KC equivalent in the UK, US and Canada. Michael Cotter has been generous with his time given that the hard fee we have paid him to date is tiny. He will be arranging Zoom calls shortly and welcomes any questions you might have. He does not want to work on your behalf until and unless you are happy to proceed with him. There is no obligation and he has been quite clear about that. The alternative to working on a hybrid basis as we are is to appoint a solicitor on a fee basis. The cost of this would be enormous - running into tens of thousands very quickly and beyond. Most of us are not up for this at the moment and for similar reasons most likely. Please take Michael up on his offer - attend the Zoom calls and ask as many questions as you like. Don't proceed with Michael unless you are happy to do so.
Whatever the judge said I’m sure bp won’t let it lie. How can he waive it through with so much noise going on, beggars belief, surely their job is to ensure this kind of deal is legit and there is no wrongdoing . He’s got to be aware that something is amiss , I don’t get it ?
Crowd funding is a possibility, although all should be a lot clearer once the zoom calls take place. hNW individuals, unless embroiled in it would be a harder sell, but as momentum and PR kicks in, a possibility.