Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Excellent reposte Rodney , very informative for us all .Thankyou
Many apologies Ryan, I have been busy today but have time now to address your queries. The comments below are my opinion and we are all entitled to have an opinion.
1. I remain hopeful of a reasonable outcome at Summit.
2. Summit wish to detach Anavio from COPL's valuable assets following Anavio's behaviour over the last 2 years. I do not believe there is evidence that Summit wish to detach shareholders from those assets (or, indeed BP either).
3. Summit will acquire the assets in due course - 17 June in all likelihood.
4. At that stage, Creditors and equity holders remain within COPL.
5. COPL's assets will be extracted by Summit as a result of their lien.
6. BP does not have a lien on the assets so it was opportunistic by Mr Pontin to ask Mr Justice Yamauchi to be treated 'pari passu' with Summit.
7. My opinion is there is scope for Summit to select parties within COPL at that stage in relation to 'what happens next'.
8. My opinion is that the codified treatment in the event of insolvency will apply to |COPL but then fact that the assets would be with Summit as a result of the lien gives Summit an element of discretion.
9. I do not believe that Summit were targeting small shareholders in their recent actions. I believe the sole target was Anavio. Summit have an outstanding reputation in their market which I am sure they wish to keep. Based on my inspection of PK's Affidavits, I believe that Summit could have grounds to take legal action against Anavio and would therefore not be surprised to see Summit commence legal action against Anavio in due course.
10. Michael Cotter and his partners including Joel Barry have excellent legal backgrounds, a brief review of the Law Society website shows this.
11. Mr Cotter is obviously very keen to get started. Obviously Anavio and certain COPL directors and management will be on his initial list of targets and more may follow.
12. With the above in mind, I envisage a busy few weeks with Michael Cotter and his team working on the Class Action (he has some wonderful evidence already with more coming) along with Summit moving matters along so that they stay within the law but do not put their hard earned reputation in jeopardy.
The above is my opinion Ryan. Apologies again for the delay.
Will Cathy Hume at least be contacted to give a statement or release all the emails that were sent by concerned share holders over the past 2 years. We were ignored and communications broke down why? she’s the perfect person to integrate.
RBMInvest Appreciated.
K
Question - will Mr Cotter also be submitting all evidence to relevant police investigation agencies regarding these fraudsters to hopefully initiate criminal proceedings 🤔
Thanks.
"Also why was JOEL BARRY sacked by his previous employer?" do you proof of this?
https://brandsmiths.co.uk/blog/view/brandsmiths-names-joel-barry-as-its-latest-partner-
We have already forwarded it on. Thanks.
Received. We have forwarded directly and shall report back to you.
Question for Mr Cotter
In the event a claimant passes away before the end of a successful claim .would the estate of the deceased receive the claim
Or does it die with the claimant ,
Have emailed the question
GLA
RBMInvest - I have just emailed that to and would appreciate an acknowledgement.
Many thanks.
Not at all. Forward us the email you sent him to coplsharewatch@gmail.com
Thanks
On the 6th April2024 I emailed in detail ( as we were requested to do ) to Mr M Cotter to
coplaction@ceclegal.co.uk the shares which I hold in COPL. I know that my holding may be only a fraction of what other investors have and as yet I have not received an acknowledgement from Mr Cotter. Is it because the amount is insignificant for Mr Cotter to look at.
K
Has anybody been in-touch with our Ex shareholders communications, Cathy the snake Hume and find out what shes doing with her shares ? did she join the group ? considering she was paid in shares for her services and declared she hasn't sold any in a grovelling email to us shareholders i would think she’d jump at the chance.
Also why was JOEL BARRY sacked by his previous employer?
K
I agree but can't see it happening unfortunately 🤔😢😮
COPL is still producing oil and let's see JAN. FEB. MARCH. and APRIL @ an average of 29,000 BPM. is = 116000 bls so there is quite a lot of dollars in the COPL BANK ACCOUNT a few million I would say. Now IMO this money should pay for Mr Cotter and Team for all their hard work and investors pay nil as they are not responsible for all this mess.
K
Stas, thinking about it logically those 450 shareholders would have already posted their proof of shareholding to the CAG weeks ago, hopefully each shareholding was viewed and checked at the time, the CAG then passed those 450 email addresses to Mr Cotter who then invited them to the three Zoom meetings, if that isn't deemed enough then the only way around it is to maybe sign an NDA or something beforehand.
Great list of questions by the way.
Thanks Stas. Have the CAG announced the total % of shares we own as a group ? is it over the 5% ?
NSTiger my question today at 11.49, I added it to the questions I had already passed to MC. Reposted below for you.
14. In the normal course of events, legal / client privilege would lend itself to confidentiality, in this case with 450 shareholders involved, it may be reasonable to assume that within those ranks we may have an infiltrator from the opposition, how do we maintain confidential advantage?
How do we make sure that members of the BOD or personal working from the other side don't have representation at these zoom calls and future meetings ? A little share holding keeps will allow moles in the camp will it not ?
Confirm questions and answers via email to members of the group 😮
WWK - good idea - if people have questions then add to the list and forward to the Lawyers. hopefully he will answers all relevant questions at the Zoom meeting and perhaps would be good to confirm questions via email to all members of the group.
RBM, CAG, Dusterhater, Alfresco, Antha, Stas20 and others,
We all seem to be asking similar questions and I've collated the ones I came across here in this post and added mine at the end, which echo others. I suspect everyone will be keen to participate, so the Zoom calls could get a little messy; I suggest we send the questions to MC before so he has time to prepare effective answers.
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) Guarantees no more cash calls after 1st stage or when / if the first £150,000 raised is used.
5) Expected time scales.
6. What percentage will the lawyer take on top of the contributions already made.
7. Has Michael Cotter been in contact with Mr Denton of BP?
1. How much work have you conducted to date to know if we have a strong legal case?
2. Can you explain all the upfront costs?
3. Are there other fees (later down the line) that might need to be paid, on top of the 100 – 550 charges such as disbursements / expenses etc?
4. In the case of a win am I correct in that we would need to pay;
a. Your CEC costs?
b. Do you also envisage a success fee, what is the success fee, is it a percentage of the base fee, if yes what percentage?
c. Do you also expect to get a cut of the awarded damages on top of the above?
d. What percentage would you expect shareholders to receive against their original investment?
e. What percentage of your costs could we recoup from the opposition?
5. In the case of a loss are fees to be paid to the other side, who pays them or do we take insurance against this?
6. Will there be multiple cases, e.g. against Anavio, then against Directors individually, how will the case be structured?
7. Under what jurisdiction will we be fighting this case?
8. Assuming we win the initial case, is there a possibility to further fight for punitive damages (what about in the US this is COPL America that owns the assets). Punitive damages are for me almost more important due to the;
a. time spent,
b. stress
c. sleepless night,
d. distress for both me and family,
e. missed opportunity etc.
9. I note CEC (Barry legal) had a US attorney (Daniel Shier..) on his team is this still the case, can he be of help. – who will be on our team?
10. How do the various actors and support networks fit into the mix between CEC and Setford?
11. What plans does MC have as regards Media.
12. The CAG and the support base of 450 shareholders can be powerful to support, what can we do to support you further?
13 His background-how many similar cases has he been involved with and success rate (%)?
14 How does he rate our case 1-10 and why?
15 Even if we win the court case what about the money? And further costs?
16 Fees-how many stages might there be and costs for each? In more than one jurisdiction?
17 Timescales for our/similar cases?
Hi RBM (who is RMG!!! Sorry) Thanks Emc
Rb I can assure you I have been reading this board virtually every day for 4 years so I know what’s been going on. I understand your suspicions of any new posters and I have seen everything on here myself however I am a genuine investor who just wants justice here and my money back or whatever I can get back, so will happily join the zoom call and take it from there. Unless there is some miraculous turn around between now and June 17th then this looks like the only option we have.