Member Info for adzy2k11

I agree with pioneer - there’s no dignity in rubbing in the bad news now, you should have warned them BEFORE the suspension.

https://www.thehindu.com/opinion/op-ed/beneath-the-yes-mess-some-stark-truths/article31026081.ece/amp/

Many similarities to NMC and Shetty. I wouldn’t be surprised if this is all linked somehow.

https://www.linkedin.com/in/reshmashetty01

Rastuss - legal or not, we need to know who owns the extra $2.7bn in debt and why have they Been so quiet up to now...

https://www.theguardian.com/business/2019/jun/23/sfo-arrests-five-in-patisserie-valerie-investigation

NMC is making the fraud over at CAKE look so minor

one-legged horse you mean?

suggest everyone reads more of these historic accounting scandals and realise why diversification is so so important (even if on the face of it you think it lowers your returns)

https://www.cnbc.com/id/100647974

NMC needs to be added to this list. False Revenue recognition (tesco + valeant) can survive, not sure double the debt (and what more to come) can...

https://en.wikipedia.org/wiki/Accounting_scandals

https://www.independent.ie/irish-news/anglo-chief-took-out-122m-secret-loans-26506469.html

EY asleep at the wheel here too.

When this all comes out, i wouldn't be surprised if the bid from KKR and GKSD and even the smoke-screen of KGI were all fake attempts to prop up the share price so these fraudsters could sell as much as possible.

Remember this was the same bod that told us results were going to be in line with expectations, that they knew of "no reason" for the share price drop, and that the FT and MW allegations were false. also still never understood how NMC could claim KKR made an approach but then KKR could categorically deny this a day later...

That’s what I initially thought, but I’m guessing the CEO and CFO were in on it, as were some members of the board who have now been sacked... can we even believe the current board that they didn’t know about this?! Seems too high of a debt pile to not know about it... who do you trust?!

https://nmc.ae/investor-relations

It’s sickening to watch How Prashant could stand there infront of Investors as recently as August and act like everything is ok. I wouldn’t be able to continue working if I had stolen £100, never mind a £2.7bn cover up. How does any one have the courage to do such a dirty crime?

It seems as though money was borrowed by individuals in the name of the company but without any authority. Arguably the debt is not the debt of the company at all just fraud by the individuals against the lenders?

Why should the company be liable for this debt in these circumstances? It’s like say if my father took out debt in my name, without my authority, then surely the banks don’t have legal claim against me if I can approve it was done without my knowledge? Then it just becomes a legal case between the father (shetty) and the lenders.

Buttis being directly related to Khadem al-Qubaisi who was jailed for his part in the 1MDB scandal should have been a big enough warning... hope they can all end up in the same prison.

only after I close my short here. ;-)

still scratching my head in thinking why Shetty, a 77-year old public figure, would destroy his own company like this, especially when so much of his family work and depend on it. It was just last year he and his wife pledged to give the bulk of their wealth to philanthropic causes as part of the Giving Pledge initiative founded by Bill and Melinda Gates and Warren Buffett.

Baffles me.

how much do you have invested KOH? and as below, what is your average?

be careful - don't contradict your earlier posts....

go ahead... please enlighten us...

not much value in the bonds either... trading at 20p

well done in getting out HeresHopin.
Stubbornness gets you nowhere, neither does bashing those who try to warn you things might not be as rosy as you think.

you sound emotional KOH... how much you got in here?

Do you mean how i was full of incorrect information on NMC for the last few months?

Can you trust the EBITDA line even?

Even IF (but IF) that is right, you're look at 7.5x net-debt to EBITDA... there are other companies which are higher.