Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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It is a riddle, wrapped in a mystery, inside an enigma or one big game of Law courts poker "We claim so many millions from you". Then you get "Ill raise you we claim so many gazillions from you". No doubt they all settle but just wish they would hurry up.
Cheers Aurora
You're finding it hard Looey?
I'm finding it impossible.
No worries Earsbern - its hard to keep up!
Thanks, Looed. Sorry I didn't read your previous post properly - you deserve better attention. The rescheduling was indeed entirely mutual.
Thanks Earsbern. To avoid confusion over dates, this doc 58 is the same as I posted Friday 19:39.
However Earsbern has additional info that isn't on the basic file that I accessed, so it does indeed seem to be a mutually agreed delay.
Ahh yes - those rescheduling dates should be 2023. Sorry.
This case, too, has shown a sign of continuing life. And again, it is seeking to extend the deadlines on joint behalf of both sides. They say they 'need additional time to coordinate schedules'.
All remaining deadlines have been moved on by 6 weeks. The most relevant dates from our viewpoint seem to be
Joint Pretrial Order 16/06/22
Final Pretrial Conference 25/07/22
Bench Trial (3 days) 11/07/22.
I expect there will probably be a doc. 59 from the judge to OK the rescheduling.
There is the usual suffix for this case that ZM's whereabouts are unknown, but details have been sent to his last known address in Georgia.
Hi ODR1 / Arsenal221 – Thanks for your comments.
For an aggressive corporate raider, OMF do seem to be remarkably patient!
We cannot tell from the Proposed Order if it has the backing of FRC or not. Nor does it say this request is because of any “feet dragging” by either side.
FRC did just launch their $280M claim against Mourant so perhaps this proposed delay is linked in some way to that action?
With regard to the new FRC v Mourant case, the court has denied a request to move the case from the 61th District to the 161st District. It does not say who / why this request was made. That proposal isn't showing in the system.
It could just be a simple procedural matter between the courts, but the 161st District is where the FIC v SN, ZM case sits.
After a period of relative quiet, the chess pieces are being moved again.
I thought I was going to retire early with my 14 million shares bit no still working
ODR
Agree 110% on very good comments on Looed.
Looed
Many thanks yet again for finding and sharing all these updates. Your ongoing work in this respect is a real lifeline to us long suffering shareholders and the words do not adequately reflect our appreciation for what you are doing: thank you.
I don't profess to understand all the legal jargon but what this seems to say to me is that the discovery deadline was today and the delay to this, and all the other deadlines, has been agreed.
If this interpretation is correct then why would they leave the postponement request until the very last minute. Is the now delayed discovery on both parties, or just Frontera. It seems odd to table such an amendment right at the last minute.... unless it's an action both parties are complicit in. Or have I read too much positivity into this? Can someone with legal knowledge please explain?
Thanks Looed. Very helpful.
I assume your “big reveal” is also court related. From my side, I am hoping that we not still waiting until next year. I’m not sure I can last out much longer!
Looed,
Many thanks for the update, so if OMF run out of money , then they can’t chase …?? But the dates seem to back up my gut feeling of end of next year and this will be sorted one way or another…!?
I have also been thinking if this does come good, that a deal/deals get done with a SM, my personal preference would be a fair buy out where we don’t enter the lions den of trading , as who knows what we are actually worth outside some very very connected people.? I would love nothing more than closure on this , be it good ( please let it be ) or bad .
So we eagerly await your update that explains some of this saga Looed.
Have a great weekend folks and GLA real holders
I should have added that we did see some evidence in the Texas case that OMF had some financial issues, so this could also be related to that and delays on there side related to their ability to progress the case to the previously agreed timetable.
WHamBoy - I don't really follow this case too much, the Texas cases keep me busy enough! But this is the 5th request for delay. I expect the judge will agree as per the previous requests. OMF want money so will have to balance doing a deal and picking the right time to go after the company when it is actually in a position to pay some / all what they might owe. So on the one hand it could be read as a positive, one the other it might also point to yet more delay in the company dotting the i's and crossing the t's on any potential deal. For OMF they must see delay as beneficial for them and their chances. Pure guesswork WhamBoy as I really don't follow this one closely.
Thanks Looed. What’s your thoughts on this?
I can now see the document - This is a proposed order, so not yet approved by the court.
OMF have requested a delay. All the procedural dates change with the dates for a 3 day bench trial moving from 13/12/22 to 11/07/23.
"Before the Court is the Motion to Amend Scheduling Order of Plaintiff Outrider Master Fund, L.P. (the “Motion”). The Court has reviewed the Motion and it is therefore ORDERED that the Motion to Amend Scheduling Order is GRANTED. The Court enters the following amended schedule:
Discovery Deadline
October 21, 2022
December 2, 2022
Deadline to file Dispositive and Daubert Motions
January 13, 2023
February 24, 2023
Deadline to file Non-Dispositive Motions
March 24, 2023
May 5, 2023
Joint Pretrial Order
April 28, 2023
June 16, 2023
Final Pretrial Conference
December 6, 2022
July 5, 2023
Bench Trial (3 days)
December 13, 2022
July 11, 2023"
Hopefully this is Outrider agreeing to a compromise…. Fingers crossed!
Outrider v SN et al
"Motion to amend by Outrider Master Fund"
France will invite the leader of Moldova to Paris in November to express France’s solidarity for the country in the context of Russia’s invasion of Ukraine, the French president, Emmanuel Macron, said at an EU meeting on Friday, Reuters reports.
Moldova borders Ukraine, but the strip of land nearest to Ukraine is the breakaway Moscow-backed region of Transnistria. There are fears that Russia’s military objectives in Ukraine include seizing the entire south coast of the country in order to build a land bridge to Transnistria.
Papered my lads bedroom with the 12 mill shares. With super glue. Lol
If this does Miraculously come back to market. I will be to old to do anything with the money.
Just wish they would have made a decision one way or another. Then I could claim a loss against the house I sold. Instead ( Mr Taxman) took a big lump sum.
Never mind no worries. I am still here just.
Loed and co Deserve a Medal for battling on.
twiddling thumbs.
Many thanks to Looed. Lost count of how many times I have shook my head and breathed deeply on this. If there is a strategy it looks like it is to string this out until all stakeholders are dead.
No response to 4 letters sent at different time to FRR
which means FRR was a fraud as so many AIM companies are.
Charming CEOs know every trick of the trade.
LSE and brokers do not care. Finance is a minefield .
Insiders gain and outsiders go down the drain.
??????