Member Info for Cause17

@Evans - One of the court documents said that different banks want different things. Some want payment upfront. Others want a different payment plan. This was a long time ago and my understanding is that we are way past this stage and there is a unified agreement between the banks.

But only those on the inside of this deal will know what the requirements, agreements and disagreements are at this stage...

I for one can only assume unless we see something stating a better picture.

@tomcat - I would assume that it is for the courts to decide:
a) Make the banks unsecured creditors. Move the project along.
b) What they did to Jindal Group. Make it available for another investor to attempt a rescue.

Here as it is the banks dragging their feet, as per the RNSs, logical thing from the courts is option a. But then again, we don't know what'll the courts do.

My bet is on option a.

:)

@Legalease - It could be a tad late to have woken up. It'll take a lot of resources to take back what China has quietly acquired in the developing/un-developed countries. Also for some countries, it is how far the west can go in terms of political choices. China offers some countries some kind of protection against resolutions in the UN security councils after all.

MrCautious - You have to give it to Huawei for the speed of their development (very much helped in the early days by copying) but they aren't really cheap..They offer the basics at reduced cost but once you enter, they can kill you with the license fees as far as my understanding goes. But their R&D these days is something.
Also I heard they tend to publicly humiliate employees for errors at work and even fine their salaries. All second/third hand info though..

I am good thank you @maddog.

I did my shopping early :)

Hello @maddog. Long time. Hope you are well.

AWOL @MLQ. Regeneration taking time it seems.:')

Thanks @MLQ. I'll keep following your commentary.

Think it'll be in port today @MLQ?

@makemoremoney - They are a legal services firm. I don't think it is labour debt.
https://www.bloomberg.com/profile/company/1286697D:LN

lol @Bannor. That sounds more right.

@masterbaker - Good morning. I thought you are in with the cosa nostra. Lol.

Have you read this?

https://www.bbc.co.uk/news/world-europe-56822571

4/20/2021 Intermediate Petition Joint Digitization
Protocol No.: WJMJ.21.40611620-3 Petition Type: Intermediate Petition - Digitization Date: 4/20/2021 09:47

https://www.conjur.com.br/2020-ago-31/tj-sp-permite-digitalizacao-processos-fisicos-advogados

Thanks @Obs. Just 2 more weeks then :)

Also if you are looking for a bit more details on the transition from AAF to Zamin, have a read of the documents posted yesterday on the AAF case regarding them being made passively responsible for labour debt. Long read but it gives some details.

@165zephyr - "Are they hoping that there might still be a way to re-possess the Amapa project?" They can't reposes the project. They have a guarantee on the iron stock. Not on the mine. They can of course execute their guarantee but they have chosen not to until now and my opinion is chances of them doing it is low. There was a court document that said the disagreement between the banks were mainly with form of payment. Some wanted money upfront etc. But since the court has updated saying there is a common agreement between the banks now on what they want. Also liquidity has improved in the project. Another indicator for me was that banks did not contest the latest decision to ship 10$ million net. They could have. Also is the guarantee the monetary amount or in tons of Iron ore?

Axis Bank (???) - Intesa is the 3rd bank. HK branch I think.

My opinion is that it is what is being said. Finer details being negotiated and documented.
But then again, just my opinion. Only those involved will know I guess.

@Obs - Hope you are well. Has your shipping schedule been updated lately?

@maddog - @pgal said there are vacancies for 10 wheelbarrow pushers. So just wondering how many Mr.Lithium's incarnations we have had till now. :')

@Pgal - 10 Mr.Lithiums?

@Maddog - How many have we had so far?

I'd like desserts. Not really bothered with the starters and mains but for desserts I'll prepare a list and post it :)