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Perhaps we need to slow down re expecting instant answers ,
Having attended a few creditors meetings over the years as a creditor , the first one is generally where a director of the failed Co is required to be present and answers the whys and wheres re their Co’s failure together with being grilled re their stated finances / assets / liabilities etc .
In my experience never at such a meeting have negotiations / proposed deal been on the agenda
Subsequent negotiations with Liquidator obviously can take place by Co down the line with any proposed solution / deal then voted on by creditors .
He could be from Grimsby by th language he used.
Looed has gone out of his way for the company ans shareholders.
I hope SN can see that and will be just. I for one won't blame Looed if this goes wrong, but there will be lessons to be learnt.
Is he really from Grimsby?
Monti: as will become clear in time, and as Ricardo has already observed, it won't be reason 2. But otherwise the two potential reasons you suggest are possibilities. These things often seem to take much longer than one would expect, but given the understandable current levels of concern as the Company our shares are in is being liquidated, it would be considerate of the former Directors to provide us with an update via Looed soonest.
I guess the outburst from our own Capt Grimsby last night was understandable if misplaced as Looed is only a messenger and not the author of the message. Our frustrations are running high because after Thursday’s meeting, we are left to wonder what is happening. Looed mentioned that this was the first Creditor meeting alluding there could be more. I am sure Team-FRR are fully cognizant of our feelings so it begs the question why have we not received a message either via Jim Slade or Looed? The reason could be one of these: 1) debt reorganization is underway and will require follow up meeting(s) to finalize and conclude before it can be announced, 2) Company unwilling to issue any unofficial statement in case it is referred back to the liquidator, 3) no deal reached and therefore wind up is being concluded.
Bravo jmolina and ODR.
See what I mean gotreal!
Positive over neg everytime for me.
Please ignore Looed, one of the cuckoos flew the nest last night, hopefully it’s back on the meds now
GLA real holders
Oh dear, someone was on the lash yesterday evening ...which is fine, but it is not acceptable to make accusations against Looed given what he has done for the readers of this board.
I thought that given his credentials have been verified and the source of his information independently confirmed that such stupid accusations would be behind us, but sadly not.
Looed - please ignore the (clearly) drunken rant.
Maybe well spotted ! But .
Money
Tickets ! Please , the yanks have took us brits for num heads , f..ked us over big time , i have no faith in the west , god knows what we !
Lifeishard, I cling on to that hope! I still have my tickets....
Ricardo2019, the train is just running late
https://m.youtube.com/watch?v=A0F9lh8TiSM
Ricardo,
I echo your sentiments entirely!
My only reply is…………. ‘woof woof’ 😝
If you think the liquidators, who'll have a bunch of overworked, underpaid Generation Z'ers on the team who friggin grew up with the internet, can't use Google to find this place on their own then I don't know what to say to you....
The Company knows that whatever they send to Looed is effectively immediately public and they won't be telling Looed anything that they wouldn't want anyone else to know. Don't fall into the trap of thinking you are all getting some special secret messages from the Company - you aren't.
The more this goes on the more I think we've been hoodwinked by the company. But I keep visiting here in forlorn hope like a dog on a station platform whose owner departed on a train days ago and hasn't yet come back.
I hope not as well, but that is my fear. We shall see.
Let us hope that is not the case njames 😞
I doubt there will ever be another update from the company via Looed on this site after a poster took the exact words and sent them to the liquidators.
Gotreal, the very same could be said for the people who post stating the opposite to my personal belief, LSE has kindly given us all a great little add on, the filter button, so crack on to anyone who wishes to use it.
Time will tell all tales in our ongoing saga?
GLA real holders
Hi Looed - I think Deloitte has already stated that any matters relating to FRR should be directed to them, so I am pretty sure there is going to be no response, just like my numerous previous emails to that address. Nevertheless, for a piece of mind, I will do as you say and drop a courtesy email enquiring about yesterdays meeting. Thanks again.
Montiburns - yes we are saying the same thing. At some point Deloitte will contact shareholders.
I always encourage people to contact the company so yes, worth reaching out. The info@ email address is monitored.
Let me also add my thanks Looed. As you can tell, there are many people who are holding their breath wondering what transpired yesterday. From my perspective, Deloitte will have to issue a shareholder notification in due course on whether a deal was reached with the creditors or no deal and therefore the company is being wound down especially as there are no assets or cash in the company to keep Deloitte employed. Sure, there is a legal and a due process before shareholders are informed but it would not be unreasonable to try and get an early little heads-up from the company if possible things are moving in the right directions. I can als u Der stand FRR’s reservation or not saying much in case it is used by dark forces.
From your perspective, do you think it would be wise to stay quiet and wait for the news to drop or is it worth reaching out to the company for a quick update?
LIH.... I think many are becoming a little tired of your fanboy ravings.... In the circumstances it isn't really appropriate.
Morning Looed,
Thanks for coming back with your thoughts.
I did hope the company may have had something to say on proceedings, but if things still need to be ratified by the court (if we’re at that point), then I can understand why they’re remaining tight lipped for now.
Fingers crossed for a favourable outcome.
Bezzy
Hi Bezzy –
The meeting in Cayman was the first creditor meeting. If there is a deal in place, or, as Deliotte have previously stated, there are no assets, it could very well the last creditor meeting or one of only a few that will take place. Once these meetings are concluded the JOL’s will prepare a final report / statement that will be distributed to stakeholders informing them of their findings, disbursements, fees etc. as well as the JOL’s recommendation to the court. If there is a deal agreed and with the right ratio of creditors, the JOL’s still need to present it to the court for final approval. Regardless of what happened at the meeting yesterday, it needs the court to sign off on it.
I have no information to share from the company side.