Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Thanks for posting that MontiBurns. My question is, if Deloitte are liquidators of an 'empty' shell, sure there wouldn't be any mention of farm out discussions etc? I would think that IF (and its a BIG IF) there are any discussions going on, that those would be kept as hush hush as they've been about the location of 'the transferred asset', if indeed that is still a thing as well?! One thing I am pretty sure about, and that is that this is now the end game and one way or another, we'll know for sure soon. But then again, what the hell do I know?! 🤷♀️😂
Well, that was an interesting read in the sense it gave a lot on the background of the company and how we got here (and filled in a few gaps on the status of the PSA, re-assignment and amounts owed to the Georgian Govt). So, overall, what’s my conclusion? Not good unfortunately! While there is not enough information on the proposal from SN, I couldn’t see any new money coming in from him to get it out insolvency proceedings. While the report is silent on creditor repayments, I think SN is basically proposing deferment of dues (but for how long, it’s not clear). Further, the Liquidator mentions that their report was limited in scope and research due to funding constraints as there are no liquid assets. Again, we see the usual promise(s) from SN but as we have seen in his FRR tenure history, he says certain things/promises but seldom honors them (ie YA, Mourant, GG). So, now I think he also personally fallen on hard times, and his family reputation is a low priority. Yes, it is critical assessment from me but I want to frank about it (and hope I am wrong).
Also, there is no mention of farm out discussions or partner but that is understandable given the status of the PSA. No reference to the Moldovan PSA, which we can assume is still under FIC, which is managed by Griffin Associates, so who knows where we stand with this.
Is the situation salvageable? Yes dependent on whether new funding can be secured. But GG appear to be friendly now and open to discussions on the PSA providing costs relating to the tribunal are paid and new funding secured.
Same, and worth a read for sure
I got the report today from ii very quickly after only requesting it yesterday evening.
Got mine from II ok , very quick response.
Thanks mate but dont have my acc with them anymore,started of with T D Waterhouse for about 5 years then they moved me over to ii was there about 4 years then was having loads of bother with them so switched to IWEBB in about 2022 so maybe thats why i am having bother now,still have all my paperwork of every transaction i made with T D Waterhouse,and interactive investor for all my FRR transactions, so if this comes good will all sort itself out as i have all the proof i need so will just wait and see what happens,guy from II phoned me and when i started asking him about the report that i was entitled to he just hang up typical foreigner.
Hello .I have also received my copy from interactive investor.today . All the best .
Toatie, ok received my copy via the ii-website inbox portal, so you may need to log back in to your ii account to download the pdf copy. It seems quite long but I have not read it yet as I m out and about.
Thanks JV they are busy but will call me back saving me waiting in a que will let you know how i get on cheers.
Has anyone received a copy of the report from iWeb?
Has anyone yet received a copy of the report from Barclays? I spoke to them last week, and chased them yesterday without any success/
I just used their internal messaging process. They say 48hrs response time. Or call them on +44 345 607 6001.
Hi jv could you please post ii address so i can contact them as i am now with iweb thanks .
II have the report now. I received it this morning.
Afternoon mate glad to hear you are ok and safe and if you need help setting up a wee fund to help some of your people out there and am always available to lend you a wee hand cheers mater toatie.
Monti i got the same response from Deloitte cheers.
Got an email back from deloitte yesterday telling me to contact my broker II Investor but not going to bother after reading here of all the others from II as well.Hi Prod just read your report of 3pm yesterday so hopefully if all goes well we may still be in the game cheers mate toatie.
Glad to read your ok Looed, stay safe
Yes aftershocks aside, hopefully it is at least 25 years before the next big one hits.
SHOCKING TO SEE THIS ON NEWS
Glad you're OK. The road collapse next to the tunnel looked particularly frightening. Just imagine driving through the tunnel and having to slam the brakes on with no road ahead and a big drop! Plus waking up in a building on a slant!
Too much wet and windy weather here in the UK, but only extremely low magnitude earthquakes and just the occasional flood. Nothing really life threatening. Today's wind and rain here suddenly seems quite attractive. Take care in case of after shocks.
Thanks MadP - Shaken, stirred but otherwise OK! That was the biggest quake for 20+ years, luckily it happened early morning when most people were out and about.
Looed - Hope you're safe and well. It must be a frightening experience and puts our investment worries here into perspective.
I have emailed ii for a copy of the report too. See how we get on.
II are now on the case. They have assured me they have now contacted Deloitte. Phoned them today.