RE: suntrust rns29 Jun 2019 13:34
BlackSwan, since you appear such a fervent believer in them, perhaps you might enlighten us now, albeit belatedly, on the merits of Sun Trust's claims against San Leon? in many of my posts over time i had asked for an explanation of precisely how these could be formulated? no explanation was ever articulated by you or by any of the other squirrels on this board. the key question of course was how come they had such a significant holding in San Leon? were they asleep when they agreed to accept the shares or what exactly? if they ever had a case to support their claims (they didn't) they surely blew it when they sold a block of their holding at a profit shortly after and then finally of course at the end of last year they agreed to sell the balance to Midwestern. I guess we will never know what drove them to pursue this reckless course of action against us but it is not difficult to imagine they were in stress to their bankers and that this situation was exacerbated as the value of their holding plummeted with our then falling SP. one suspects also a deep regret at parting with their valuable holding in OML18, as they watched the oil price more than double into the mid $60s. whatever the actual status of their litigation, it was surely always vexatious and frivolous. And to misquote Churchill, I do understand the deep concerns felt by you and the others in many matters above your comprehension and no doubt this explains why none of you was ever able to answer my straightforward question. but as I say please feel free to do so now. Btw it is generally considered a good idea when attempting to wind up an Irish company, to petition the High Court in Dublin not Lagos. And also btw 'No consideration was paid'.