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Most are not claiming that it is fact and until we can confirm exactly what is being said in the mortgage doc there are no facts other than that Hope is going after SN’s personal finance for OMF interest. That’s it, so far that’s all we know. From that we can make suppositions and you are as guilty as any of this.
End of the day 2m owed 2m is what he wants in what ever form. Would be good to understand by a qualified legal interpretation but it makes no difference. Star I never for one moment took any comfort in the suggestion that Hope was after shares so they must be worth a lot. Not sure why your so bothered about it either it’s just people expressing their hope and means nothing more.
Did hope forward sell shares he never had like these death spiral finance houses... Beaufort securities has already bit the dust will ya be next...
Star
Thanks for posting link to Mortage Doc
Reading Tab 8 page 54 can see link to share value on the Sept 28th date .
I see it states obligation for 250000 from Sn & ZaZa then goes onto say ...to give free and clear title to the pro rata number of pledged shares to satisfy deferred interest payment obligation on Sept 28th .
So presume that means , less than the 500000 if the price had risen at time of calling them in but does it also mean he can demand more shares if the value of them had dropped , not sure how that plays out in current circumstances if correct .
Reads to me it is shares or cash or both ...as in court doc ....but how many ?
That’s a massive assumption that a Judge could decide the shares are worth nothing.
Your right Star on someone who understands the vagaries of this mortgage doc needing to take a look because you really are taking a stab at this one and I’m not convinced.
It’s got holes in the argument at the moment. In the current delisted state if what you say is the correct reading of the doc then any mention of shares in the Texas courts is pointless. The lawyers would be demanding a cash payment and not a delivery of the shares or a combination of both.
Star have you posted that section of the mortgage doc that outlines the share value? If yes where so I can go back and also where in that doc is it? I think your link is 100 pages long.
Star in your 10.04 post you said......so imo Seinged is correct, if the shares are worthless then they owe cash, which is why SN is putting up a fight.....
Hope submission to court suing Guarantors states :
33. Because of Frontera’s default under the Note, Defendants Nicandros and Mamulaishvili, as Guarantors, bear personal liability under the terms of the Individual Guaranties. 34. As provided in the Individual Guaranties, the Guarantors are personally obligated to pay the Deferred Interest in full, whether by cash payment, delivery of the Pledged Shares, or a combination of both, to Outrider following Frontera’s failure to pay the Deferred Interest.
So he is asking for his $2m OR shares. So If he wins his case they can can elect give him the shares and no cash.
They give him shares and they are worth whatever they are worth, and they have fulfilled their obligation .
Hey maybe they had this in mind when delist occurred