REMINDER: Our user survey closes on Friday, please submit your responses here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
For those of you who are interested in getting your money back from these scammers / fraudsters .
Feel free to join us in our Facebook group : wwwDOTfacebookDOTcomSLASHgroupsSLASH500058791795764
DOT = .
SLASH = /
Alternatively, you can contact me via email at jojohanes2021@gmail.com.
Previous bond
Omnia Bonds II PLC
https://find-and-update.company-information.service.gov.uk/company/10729418/officers
https://www.investegate.co.uk/omnia-bonds-ii-plc/rns/omnia-bonds-ii-plc-delisting-announcement/202104070700135586U/
https://www.londonstockexchange.com/news-article/market-news/omnia-bonds-ii-plc-trustee-announcement/15244402
Familiar names ?
1. Bedford Row Capital
2. Truva Trustee
I wonder if Audley Funding PLC's bondholders (NQ MINERALS FRAUD PLC) will end up the same as Omnia ?
Bloomberg article on Bedford Row Capital
Green Debt Market Faces a Rare Default
- Energy Storage fails to wire funds for January coupon payments
- Bonds sold by Sustainable Capital Plc, part of Bedford Row
January 14, 2022, 6:10 PM GMT+7
An Australian company that promised to penetrate the $662 billion market for clean power storage by the first half of this year is struggling to drum up $1 million to pay interest on two green bonds. If it doesn’t find the cash by the end of next week, it’ll be a rare default in the green bond market.
Queensland-based Energy Storage Pty Ltd failed to send funds to an issuing entity owned by London-based bond originator Bedford Row Capital when coupons were due on Jan. 6, according to a statement Tuesday. The company has now 14 days to pay them before default. Energy Storage, which is set to launch onsite clean power storage by the first half of 2022, didn’t respond to a request for comment from Bloomberg News.
The two $55 million bonds sold in 2020 issued in both dollar and sterling were sold by Sustainable Capital Plc, a debt issuance vehicle set up two years ago to fund green projects. It’s part of the Bedford Row group, a bond originator that owns platforms to sell notes to investors on behalf of small firms that don’t have direct access to capital markets.
If there’s no payment by the deadline, the securities will join a small group of five bonds that have defaulted, out of a global pool of more than 5,300 green bonds recorded by Bloomberg. It’s a corner of the market that’s been growing fast on the back of investors demanding ESG-compliant securities. Last year, there were $540 billion green bonds sold globally, more than double the 2020 tally, according to data compiled by Bloomberg.
The Energy Storage securities are the latest notes issued out of Bedford Row vehicles poised to go awry. In recent years, the firm arranged about 140 bonds for a variety of businesses, according Levy, some of which have paid coupons late or went insolvent, filings show. Among them a Cape Verde hotel developer, a company that leased sculptures by Auguste Rodin to raise financing and an Australian mining company, according to filings.
“Deals don’t always work as they are supposed to,” Bedford Row’s Chief Executive Officer Scott Levy said in a telephone interview on Wednesday when asked about defaulted bonds.
================================================================================
Bedford Row Capital Fraud
Bedford Row Capital PLC Fraud
NQ Minerals PLC Fraud
Audley Funding PLC Fraud
Bedford Row Management profile : https://bedfordrowcapital.com/investor-login/team.html
Their current bonds : https://current-mandates.com/
url is : wwwDOTfacebookDOTcomSLASHgroupsSLASH500058791795764
DOT = .
SLASH = /
There are a few of us now in the group, so for those of you who are interested in getting your money back from these scammers.
Feel free to join us in our Facebook group : https://www.********************500058791795764
Alternatively, you can contact me via email at jojohanes2021@gmail.com.
Hi Johanes, thanks for directing us here last week. I think many may find this difficult to find as its not specifically London stock exchange's site but London South East's. I emailed you too but from your initial message on this group, it was an incorrect email. I'm wondering how best we can get all the other note holders on here too. Any ideas?
i think besides nq, i wonder where is bedfordrow hiding. every other bond they issued defaulted
Other defaulted bonds by Bedford row capital and Truva Trustee.
https://www.bloomberg.com/news/articles/2022-01-14/green-debt-faces-rare-default-from-bonds-bedford-row-helped-sell
First of all absolutely amazed that there is no fraud investigation into this company, either in UK or Australia. I had shares in it. Am I right in saying I have zero chance of getting any money back ? Hope whoever can can get these gyys debarred from holding office and hopefully prosecuted
https://forms.gle/tEEzZzJikm9NscTDA
G'day ladies and gentlemen,
Please fill out this google form in order to request a Audley Funding noteholders' meeting with the trustee.
Our goal is to reach a total of USD 10 million (or currency equivalent)
The total amount of notes issued by Audley Funding is around USD 100 million in three different currencies.
Ref : https://investegate.co.uk/audley-funding-plc--irsh-/rns/audley-funding-plc-trustee-announcement/202112020851513587U/
Trust deed : https://drive.google.com/file/d/17oct05m73AdoLXNw1djMkQAdc9_BIHKr/view?usp=sharing
Trustee’s response for meeting : https://drive.google.com/file/d/1pyMv-_k2g_RMHuj8Z-xlPsbvqlOsZIYb/view?usp=sharing
Thank you
@bugerov,
The didn't mute the microphone, so you can hear everyone is talking . Interestingly Begbies wasn't even attend the meeting.
It's adjourned due to attendance issue.
“a written request by Noteholders holding Notes of at least ten per cent of the principal amount of the Notes for the time being outstanding of any Series”. -- Trust deed page 94-95 (schedule 3 paragraph 4)
Trust deed : https://drive.google.com/file/d/15p5U-feJIugLWuHkBv7RykNHCEzlre62/view?usp=drivesdk
Afternoon/evening Johanes. For various reasons I was unable to join in the meeting today. In what way was it chaos and why adjourned? Is this another adjournment to magically 'find' 98% of positive votes for the motions they put forward.
Regards....... Bugerov.
For those who managed to attend NQ Minerals online meeting today (18th March 2022, at 11.00 GMT).
My email address is : jojohanes2021@gmail.com (not jojohanes@gmail.com).
thank you
Meeting adjourned till April, and the online meeting just now was a total chaos .
If you're a bondholder , please reach out to me. There's a few of us now in the group to discuss what's the steps moving forward.
my email address : jojohanes2021@gmail.com
thank you
Hi all.
Notice to noteholders on 25 Feb 2022. Online meeting on 18 March 2022 to vote on notice. Does anyone know what it is all about?
regards Pat
iii) That Doyle’s appointed HGM Directors who have been awarded Keen Pacific executed deals that have resulted in extensive cash leakage to the detriment of NQ shareholders and creditors. These transactions include, among others, streaming agreements that deliver HGM’s gold and silver to NQ Director Kevin Puil at 70%+ discounts to market (specifically the sale of HGM’s gold at $400/oz and silver at $6/oz). Also, HGM Directors signed an exclusive, life-of-mine offtake contract with intermediary Traxys in Nov 2020 for no consideration at all. Since the start of the former agreement with Traxys in 2018, HGM / NQ has received a 60%+ discount on its Lead and Zinc production against its contained metal value. Further, market participants are well aware that Traxys is selling HGM’s production to another intermediary instead of end-buyers, demonstrating a chain of intermediaries and significant foregone revenue.
iv) That in 2020, Audley fiduciary Bedford Row (Scott Levy) appropriated in excess of £10mm from the Audley bondholder’s “liquidity reserve” account to himself, resulting in the default of Audley bonds.
v) That in excess of US$70mm was paid in commissions, consultancies, and “marketing” or administration expenses to Scott Levy and Walter Doyle associates, the latter including Doyle’s relatives, James Dean, David Lenigas, Steve White, Mike Barden and others.
6. That Begbies Traynor have been informed of multiple of the above instances of fraud, some including the provision of documentary evidence.
7. That despite the foregoing and claims of “investigating Company affairs”, that Begbies Traynor have not as yet made a report to the FCA and SFO.
8. That there are a number of other transactions at NQ and its HGM subsidiary that amount to fraud / embezzlement or are highly off-market, the latter including inflated procurement contracts at HGM in favour of parties linked to NQ Directors.
These are known facts, many of which Begbies Traynor has been provided reporting or evidence of.
Before addressing the matter of who the right buyer of Keen Pacific should be, a key question for shareholders and creditors must surely be:
- What is the status of Begbie Traynor’s investigation into NQ fraud with the FCA and SFO?
- How can Doyle-appointed Insiders, be awarded control of NQ’s flagship asset if they are (as Begbies claim) being investigated or demonstrably linked to significant cash-leakage schemes at HGM and NQ?
These are certifiable facts that we (certain shareholders) have discovered recently:
1. That (NQ Founder) Walter Doyle-appointed Directors at NQ subsidiary HGM have been awarded control of Keen Pacific for either US$2.5 or 3mm.
2. That the award to Doyle insiders by Begbies Traynor came against bids from third parties offering more cash and/or recoveries to creditors
3. That nearly all of the $2.5 or 3mm consideration is for Begbie Traynor’s fee
4. That following Doyle’s resignation in 1H21, Begbies Traynor was appointed Administrator at the recommendation of NQ’s CIO Suresh Advani. Advani was hired by Doyle and worked closely with him to execute NQ’s financings. Begbies was ultimately appointed as: i) Advani had a “close friend” there and advocated for them; and ii) unlike other firms, Begbies would agree to work unpaid for the first month.
5. That certain NQ directors and insiders have reported to Begbies Traynor testimonies and/or evidence of fraud at NQ that led to its demise, including among others:
i) A “rigged” Audley bondholder vote on or around May 2020 resulting in the loss of their security. The vote was “engineered” by Bedford Row / Truva Trustee (bondholder arranger and security agent who share the same office address), Walter Doyle, James Dean and James Dean controlled funds (including KIWOZ). The “rigged” vote involved, among other actions, the issuance of deeply discounted Audley bonds to parties related to the above so as to satisfy a bondholder vote quorum for a first vote. A second and determinative vote was then held at the office of Bedford Row and passed with only several of the above-cited funds participating.
The “rigged vote” resulted in the loss of security for Audley bondholders in favour of ING with the vast majority of bondholders receiving no consideration at all for their loss of security.
ii) That following the closing of the ING loan, $30mm+ was paid to NQ Director Kevin Puil (RIVI-RCA), James Dean Controlled funds (KIWOZ) and James Dean personally. Further, James Dean received an additional £8.5mm commercial royalty (booked under Eldorado Gold) for no consideration at all. There is no known record of the NQ Board approving this transaction.
Private release:
Begbies estimated that Doyle had personally taken around US$30 million off the NQ table and Scott Levy personally benefited with around $20 million, but what the hell, report this to the SCO or the LSE, no way, lets sweep this under the carpet collect a large fee (US$500,000 per month) cover it all up, rig the sales process, give serious bidders 10 days to review hundreds of documents and then only when you know no one is going to bid, extend the evaluation perod. Then “after all the boxes had been ticked”, here you are “Doylie Boys”, screw the bidders who I hear offered hard cash, you can have the project for nothing, just payme some money and off Paul went as fast as he could trot to Nassau in the Bahama’s with family in tow of course, patting himself on the back for a job well done.
So the scum from down-under not only get away Scott free (no pun intended) with screwing everyone, we find out at the last moment that the Administrator had close connections with NQ prior to joining Begbies. Good one Paul, all this for US$3 million, my god, all I see from here is a $3million *****.
So guys, now that we know that Begbies are above the law and that the U.K. authorities are more impotent than an 80 year old eunuch, how about we do the same???? After all, copying is the ultimate form of flattery!
Let’s bring in some guys from overseas maybe the U.S. instead of Australia, and we all work together to do another Doyle??? Of course, we will have to do a deal beforehand with Paul Cooper so we can have the ‘final fix’ in place before we act. After all we now know that crime does pay as in the NQ debacle we have the perfect example.
I suggest we each list a project on AQUIS, work out a sweetheart deal with Scott Levy for some bonds, sell them to unsophisticated investors, arrange 40% revolving commissions to ‘smooooth’ the process with all concerned, pay a few guys with NQ money to ‘fix’ the bond holder meetings (even Lenigas confirmed the fix), line up a friendly Administrator and then offer a Banker a deal he can’t refuse to approve a large loan after which he can leave the bank and join the company. After that, and only when you can’t squeeze or steal any more money from the company, you put the company into Administration and pay your friendly Administrator to ‘give’ you the project back.
Wow, it’s so easy, why isn’t everyone doing it, I mean the authorities don’t care a flying cook, the stock exchange doesn’t care, the entire system is unregulated, so why not take advantage of the system and milk those suckers dry? No-one is going to do anything about it!
On that note, where is the FCA and the SCO right now?? Sipping tea enjoying a life of comfort whilst getting paid to fool the public that they actually do something??
When you know the system, you can get away with anything.
Talk about preferential treatment, ask yourself this why would Paul Cooper give White and Moroz two Doyle appointed nobodies permission to use an inter-company loan of £15M owed by NQ to Hellyer Gold Mines to bid for the project with only one condition, Cooper gets paid US$3million? Have they paid Cooper yet, I hear not yet as between White and Moroz, they don’t have ten cents to pay their best buddie. Never mind, they are running around offering equity in Keen Pacific to anyone who will give them the money to pay Mr. Cooper.
Good one Paul, free money to freeloaders who are now running around to raise money to pay you! Maybe it’s time the SCO investigated Begbies, and the Cooper NQ connection as there is something rotten in the State of Denmark. Even as far away as Wembley, the stench of yet another corrupt deal linked to NQ Minerals is today wafting through my office.
I guess we should have seen this coming because right from the getgo, Begbies had set the Hellyer Sale Process up to fail. No-one gets a fair chance with a compromised administrator and that point has certainly been made by NQ’s pet, Paul Cooper. Take a look at Hilco, a company chosen by Begbies to provide the mine valuation; guess what, they have ZERO experience in valuing mining project. So, rather than use an experienced, qualified mine valuer, Begbies chose Hilco a virgin in the game who rolled over when told, and not surprisingly the so called “independent valuation” came in exactly as the Administrator had requested.
Shoddy business?? You bet and who loses, everyone except the Doyle appointees who just keep winning time and time again.
Has anyone heard anything about the outcome of the offering and bids received?
@billclinton ,
My email address is jojohanes2021@gmail.com , can you please reach out to me ?
I and @Nickkdog is in the same group.
thank you
Hi BillClinton, I am not sure someone's contractor mate in Tassie is a reliable source of information if I am completely honest, while tailings operations are notoriously difficult to get right.
Spiking the asset sounds a bit far fetched as well. You give the Doyle crew too much credit in my opinion. If they were that switched on then NQ Minerals Plc would be a FTSE 250 company. Having met most of them I can assure you this is not the case.
I do agree with your last point however. Stakeholders should be updated on the actions of the Doyle Cabal to take back control of a company they destroyed.
A fellow shareholder was just informed by a contractor mate in Tasmania that Hellyer is having operational problems. Production down significantly and issues relating to non-functioning equipment.
I found this incredibly surprising as Hellyer a simple dredging/milling operation and has been performing very steady and very well. What's more, operators always have spares. If anything breaks down, it should be a several days or a week downtime, not months.
Why now?
Is this an attempt by Doyle crew (James Dean, Scott Levy) & team to spike the asset and prevent others from buying the asset?
Administrator needs to provide updates here, both on the operational issue and the actions of the Doyle Cabal to retake control at this rather convenient time.
@Nickkdog - I avoid whatsapp but is there an e-mail group instead? If so, let me know your address