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senseman,
"peeps pass the buck expecting others to do the grunt work"
Yeah. 'cos that's what 'the others' (making lots of money) are paid to do, and making (not insiderable) amounts of money from.
Put up or get out. Time to show your mettle.
albie
everyone has stuff to do
that why it wasnt asked
thats why only 2 PIs spoke at Hearing
peeps pass the buck expecting others to do the grunt work
"One thing which has surprised me throughout is that nobody has asked for the entire composition of the 'ad-hoc committee' to be revealed, nor the legality of the BoD making decisions in consultation with such a 'committee' without reverting to shareholders saying that such discussions were in progress."
I have (daily) very unfortunately due to the commitments of what I do, I wasn't in a position to table the very simple question, namely:
Your Honour - There is a strong belief from share holders that a severe possible conflict of interests exists between one of the 'Ad Hoc' Bond Holders (maybe more) and HUR share holders and possibly the BOD itself if this situation exists and they (the BOD) know of it. Could I please ask that you take a moment (in private if necessary) to ask just who the Ad Hoc consists of and any vested/conflicting interest.
Wasn't that difficult was it.
What I liked was towards the end, when CA's QC brought the timings to the judge's attention, saying that if the restructuring were to be sanctioned, CA and maybe a 'consortium' of shareholders would appeal against such a ruling, which could possibly compromise both the AGM and EGM dates, but thus put the company in default of company law.
That was very smart and shrewd'
The judge is obviously a very smart man, now very much up to speed with the whole thing which is some ways quite a 'test case'. So he'll want time to deliberate over the whole affair.
One thing which has surprised me throughout is that nobody has asked for the entire composition of the 'ad-hoc committee' to be revealed, nor the legality of the BoD making decisions in consultation with such a 'committee' without reverting to shareholders saying that such discussions were in progress.
But I guess that covering every inch of ground now trampled over is almost impossible.
I think you only have to look at the rise in the SP over last 3 days to get an indication of the ruling of the court. i.e. for the SH's and the Sanction will not be granted.
The Judge didn't like being pressured into providing a ruling by Monday morning, which CA can apply for a stay, if the Sanction is granted, so as stated by other posters the outcome of the AGM and EGM are cast.
I watched all the proceedings and added to my holding today.
The writing is on the wall for this BOD, they should have some dignity and resign.
Do they really need to be made to walk the plank?
I think hasiba has posted it a few times
Could someone list the 5 July resolutions.
I have just registered my wishes to vote against on 30th of June and for on 5thJuly.
I own 998,005 shares which hopefully may make a little difference.