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On Google today it flashed up IOG owes more than £140m as administrator tries to res.. the article is from " energy voice"
Should have voted the board our when we had the chance to call an egm - too late now company stolen - no doubt our JV partners will pocket the 270m deferred tax asset along with everything else for a pittance
@Smellyben
Can you tell me where the document of 270m deferred tax asset is, please?
The energy voice article without popups: https://archive.ph/ilCrz
"Nordic Trustees" = the bond holders.
Am surprised to see Subsea 7 in there - they were in court over non-payment but dropped the case - which I assumed meant the monies owed to them had been paid.
Also https://archive.ph/fCpsu
This might cheer up some ppl: "In addition the service agreements of three non-executive directors have also been terminated."
In the company's last investor presentation - it was also disclosed as a note in the last set of accounts
Such a shame was happened here, investors didn't deserve to get shafted
It's a shame that the administration hasn't gave any updates so far.
Aim is 100% corrupt
What happened to the legal challenge.
does anyone know anything.
Is the legal challenge still ongoing or is it dried off
I just spoke to a fella, who says "there is a good chance the company will come out of administration intact, a Company Voluntary Arrangement most likely will be agreed". Fook knows what he means by that or if he is genuine. It could be wishful thinking or desperation but that's what he said.
Bongo, legal challenges in these situation are very challenging. I hope they are having some success.
Hi. Could you elaborate a bit more on that. Why does this person think a good chance?
Long story short. He didn’t say who he was exactly, I’m guessing he was a shareholder with extensive knowledge of the North Sea oil and gas. He was adamant, he was right and he really did have good knowledge of the North Sea infrastructure.
However, I can’t really judge as I have limited knowledge. And from all I know he’s full of sheet. Let’s wait and see. We should be due an update soon.