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If Russians get control of Georgia . Which it look like they are trying too. With the bill that was passed today. ( with half of the Politicians missing not being able to vote ) Then what the hell will happened to Frr. Not looking good.
Yep, think the minute chances we thought we had are evaporating by the day.
Quite depressing, Putin has the West terrified of him, the inaction is baffling.
Maybe the Georgian government will feel obliged to give the US something to keep them quiet…
Maybe a PSA to little old FRR as part of their peace offering?
I think the GG have been “obliging” FRC since 2020 when they suspended the termination of the PSA, then allowed FRC to ‘park’ the PSA with them to deal with ZM, and more recently agreed an MoU that the company can either comply with or not. I think the GG likely feel that they have been more than patient with FRC.
As both the PM and the USA have stated, what matters is what happens in the veto stage when outside / legal arguments are brought into play. That is expected to take about 4 weeks or so to complete. Both sides have now said tweaks “needed” (USA) and “possible” (PM).
When most people here invested in FRC I imagine BD was then, as now, the real power and the country was relatively cool on Western relations compared to recent times, but that didn’t stop people investing.
If a Chinese / Arab company made you an offer for the company – would folks decline due to the lack of pro-western credentials?
I must say, it is bemusing to see y’all front and centre in support of a country and its EU aspirations when the UK decided as a collective that the EU wasn’t that great after all.
As I’ve said previously Looed, it’s hard to know what’s politically good or bad for FRC anymore. If the company is still fighting and eventually is allowed to continue in Georgia, then that’s enough for me. I really just want something back for all the time (and stress) I’ve been invested here. When do you think we will find out Looed?
For myself personally Looed, it matters not to myself if Georgia join the EU or not, it’s about having a government that will allow investments to come into Georgia fairly, you make an excellent point on the Chinese or Arabs, who are not west facing offering up a deal, the Chinese are in town! who is to say it needs to be our company going forward.?
I for one like all real holders would take a deal like that in a heartbeat. So thanks for your input & thoughts on this.
GLA real holders
Georgia continues to score very highly on all key business indicators i.e. tax regime, ease of doing business etc. At least at COB yesterday the markets don't appear unduly concerned. All tbe Georgian / Georgian based companies that trade in London were down about 5-6% but remain above their position 6-12 months ago.
Looed, we may have rejected the bureaucracy of the EU but EU countries are still aligned with the principles of democracy, freedom of the individual, the rule of law.... everything which Putin is suppressing. The Georgian people want to align with the west but the billionaire puppet/puppet-master, Ivanishvili, who controls the GD is firmly in the pocket of Putin. Civil war is a distinct possibility, IMO: "Georgian youth lead protests against 'foreign influence' law: 'We'll keep going until the law is withdrawn, we're not afraid!'" https://www.lemonde.fr/en/international/article/2024/05/05/georgian-youth-lead-protests-against-foreign-influence-law-we-ll-keep-going-until-the-law-is-withdrawn-we-re-not-afraid_6670508_4.html
Elections in October. Georgian Dream could well be the proverbial turkeys voting for Christmas because of this. They can't be that stupid - can they?
Contra, I suspect that a big reason for them forcing this law through is so that they have more control of media/propaganda and stifling contrary views and dissent running up to and during an election - i.e. to improve their chances of winning.
WhamBoy – there are little bits of minor news out there – lobbying, court case updates etc., but obviously decisive news now depends on the workings of the liquidation committee, it’s dealings with Deliotte and ultimately the Grand Court. They and they alone will decide how and when news is shared with shareholders.
The Creditor Report was dated 22 March so almost 2 months ago now, and tomorrow, 16th May, marks 4 months since the Winding Up Order was issued. For a liquidation, more so one that isn’t a straightforward winding up, it is still early days.
Thanks Looed. It’s not what I wanted to hear, but thanks for your thoughts. I was hoping the lack of funds would have forced Deloitte and everyone else’s hand by now.
If this turns out positive, none of us will care, but if after this much time, effort and pain, to end up with nothing would be hard to bear.
Yes, the UK decided that based on lies and the majority now know it was a colossal mistake.
There are endless polls showing that the majority would rather we were still there.
Give it up bear, it will prove to be the best decision we ever made, despite the scaremongering that went on (mostly proved to be utter rubbish) For sure there are/will be difficulties, but we have opened up better trade borders than we we had before. The majority of polls were gleaned from people who were sick of the arguments between their own, and the battle to get a trade deal out of the EU. It was a drain, but we are relatively free of it now. It’s a cliche of sorts but the EU were never going to make it easy at the risk of other countries realising they could get out of one of the biggest cons of our lifetime.
@blueboy1975 You've ignored everything that's happened since Brexit, parroting the nonsense from Brexiteers that was utterly false.
Some reality:
https://www.euronews.com/business/2024/01/12/brexit-here-is-how-much-it-has-cost-for-british-people
https://www.bloomberg.com/opinion/articles/2024-03-19/brexit-s-lasting-economic-and-financial-damage-looks-inescapable
Apart from the economic damage, giving up the right to work, live and retire all around Europe, giving up Erasmus, participation in research, all to be economically worse off and politically weaker, unimaginable self-harm.
WHamBoy - Hope for the best, or at least something, but be well prepared for the worst is probably appropriate. If there is no funding liquidators will close things out ASAP so they don't need to waste time on non-billable activities such as replying to shareholders and so on. I recall someone posted a thread along the lines of "Deloitte want to hear from you", well the time spent by Deloitte dealing with that likely meant no funds for a meaningful investigation into the details around the liquidation event.
The C.R. contains a lot of information and you can try to roughly guess at potential timelines if things did / did not happen if that helps. Outside of that it is standard practice in Cayman for a liquidator to distribute the Final Report to all stakeholders before it is submitted to the court. Failing that, the Gazette / court filings are another info source.
With regard to the EU, I think you overlook one significant consequence. Leaving showed that a potentially powerful economic and political bloc could be cleaved apart. It expedited the influx of outside forces (China, Russia etc) to further sow dissent, emboldened the Orbans of the world and more. I don't see much talk of democracy, individual freedoms and so on coming from those influencers. You cannot be a contributor to a decline and and stand on the sidelines clutching pearls at the consequences of it.
I recall someone posted a thread along the lines of "Deloitte want to hear from you", well the time spent by Deloitte dealing with that likely meant no funds for a meaningful investigation into the details around the liquidation event.
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Tut tut FRR shill.
Yet again lifting the cloak on his true intentions and paymasters.
Absolutely shocking lies from the inside man planted to keep you all dumbed down.
with the greatest respect, looed, blaming brexit for the actions of the russians and chinese, and a man, orban, whose whole political career has been on the far right, is poppy****.
orban is pertinent as hungary recently introduced something similar to the "foreign agents" law, hungary often blocks eu initiatives that require a bloc vote. hungary will take on the the eu presidency in july 2024 which include powers to set the eu agenda during the term of its rule. for the rest of the eu, this prospect is hardly poppy****.
Gotreal - at least we can agree that the ability to use caps seems to have disappeared!
Deloitte confirmed that FRR money has dried up and nobody
in Finance works for free except me.
I have no idea why but on occasion I can type a message as usual using caps but when it is input it converts everything to lower case. Believe me, it irritates me as much as you!
So share holders contacting deloittes and them having to reply used up all money and resources leaving nothing in the pot for the liquidation to be thorough 🤣. Well done to all those that contacted them to use up the dosh
Ive heard it all now I think
If you had bothered with even the most cursory of checks you would have seen that the liquidators assume at most, around 15% of costs towards "investors and creditors" and also that, at time of reporting, "the liquidators have no funding to support the cost of the liquidation", so it might be news to you, but its there for all to see.