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mcadder,
Wrt your 14:24 post.
I hate to be boring with my references to poker. But if I've had a really bad night, yes, I prefer to get back on the road with an empty wallet than one with just five euros left.
This is now a real fight to the death. Or maybe not. Could be a chance to kickstart the thing back into life, but the only way will be showing up the bunch of shysters who've been pouring water into our tanks.
Aduk , perhaps the judge will call for an expert witness to provide technical advice, D Trice would be good!
"However I do hope that the person appointed is reasonably aware of matters involving the oil and gas industry, particularly on the UK Continental Shelf, the potential 'stategic importance' that might hold for the nation, and is not simply versed in corporate financial law."
Lmao.
It's a restructuring mate. Ofcourse it'll be someone who would be more corporate financial orientated rather than someone who can read a CPR or use O-rings in between valves or vessels.
Also
"current shareholders in Hurricane Energy plc are very unhappy that such a hearing has been convened, without any consultation with they themselves."
Lol, again, in accordance to Companies Act 2006, there is no requirement for consultation with shareholders in this matter, as this is a financial restructure between a company (that is in financial distress) and bondholders, initiated by the company under the UK Restructuring Plan.
It's quite amusing how all these emails sent to relevant organisations... but not one has an alternative plan to the restructure to save the company.
To me, it just looks like you're all begging for your own investment decisions.
You do realise that given the dire situation with Hur and the legislation that is being used to bring the restructuring plan to court that, by you trying to stop the court from hearing or granting the restructuring plan (not that it would ever succeed) that it would just force the company into a controlled wind down and insolvency??!!!
So you end up with 0% as opposed to 5%??!!!
Crack on in that case but the only winners here will be the bondholders in either scenario and given that 83% of bondholders (as of Thurs) have accepted it above and beyond the 75% required, and given that shareholder approval is not required the court does not and will not need to take into account of any shareholders views. The recent legislation serves to deal with dissenting classes (including shareholders) so the law is very much on the side of creditors no matter how many shareholders write in to court!!
Up s**t creek without a paddle comes to mind
oldbutnowisa,
Thanks for the link !
So another email out the door. It's all we can do.
Some people might laugh, but this is what I sent:
"Dear Sir / Madam,
I write to you as a shareholder in Hurricane Energy plc, regarding a hearing due to be held, referenced in the header to this post. Unfortunately, due to lack of information, I do not have a 'case reference number', and as seemingly the hearing will be held 'virtually', cannot be sure of any venue where others could attend in order to actively participate should they wish to.
Equally, I'm unaware of who will preside as judge for this hearing, and in absolutely no way would I wish to be considered to be thought to be trying to influence his or her thinking on the matter. However I do hope that the person appointed is reasonably aware of matters involving the oil and gas industry, particularly on the UK Continental Shelf, the potential 'stategic importance' that might hold for the nation, and is not simply versed in corporate financial law.
It is possible that it has already been brought to your attention that a number of current shareholders in Hurricane Energy plc are very unhappy that such a hearing has been convened, without any consultation with they themselves. This has already been brought to the attention of the Financial Conduct Authority, and we can only hope that that body is pursuing the matter with all haste, and may be able to advise the judge or his / her staff on their findings regarding the matter accordingly, prior to the hearing.
Yours Faithfully,
(abdoubleuk) (Though of course, that wasn't how it was signed) "
...to let you all have the email of the court official who advised me to send in my representations, which
i have done. and she indicated that they would be placed before the Judge.
I have now sent them in. If you wish to do likewise here is the address: ChanceryJudgesListing@Justice.gov.uk
Please imagine that you are addressing Royalty and your tone will be about right!
Incidentally, I also argued for at least an adjournment of this hearing as I see another poster here thought would be a sensible tactic.
I suggest you entitle your email 'Hurricane Energy plc - Proposed Financial Restructuring. May 21st 2021.