Member Info for CF73

...if we are claimgin we are solvent and are able to prove it to Liquidators, then we ahve 12months to service to the outstanding debt...

...if we have been making signficant progress in the field, then it seems we have the evidence and will be, finally, disclosing this to someone (namely the Liquidators and the courts if required)...

...then it's a case of sort the loan and use that along with revenue to pay off the loan over the requisite 12months...

...to enable all this, we had to get Hope off the Board so we could get loans approved, progress with Partnerships, oil, sales etc. which we have (seemingly)...

...there is also the issue of claims to be made by FRR (is that claims for damages?)?

...there's been talk of the 'two cases' not being seen as tied. Is this why the fiduciary aspect has failed to have any impact on the default/liquation issue but that we are able to pursue that 'breach' separately and claim for respective damages?

Apologies misread your post Goit. I would've thought for the overall FRR Vehicle, so protecting us possibly across the board. But then can't properly recall.

Goit, subsidiary. The liquidator explained they had no jurisdiction over the parent company as the action wasn't against the parent company (or the subsidiary to which the 95% of asset had been moved). Just the subsidiary in which the 5%:was held (not they would be wholly aware it was 5% of the total asset).

TSBS, the secrecy and cloak and dagger has primarily been as a matter of defence and self preservation in light of Hope and OMF. And we can see from the docs that this (i.e. Hope interfering and strangling FRR) has been going on a while. All of it remains sensitive and at this we don't know how FRR want to pursue this. So they won't be able to tell us anything until they have reached a point of safety and satisfactory conclusion. Even if they have had to show liquidators evidence that they we're progressing really well, doesn't they're ready to tell us. That may and likely will come once FRR are assured they are able to. Still a bit more patience required.

Still absorbing everything and trying let it sunk in.

To date, I've not seemed to call any of it right (and am still of the view there is a very strong case against Hope on the matter of his breach of his fiduciary duties. Shows how much is open to interpretation of the presented evidence and arguments in the context of the law).

However, the declaration of solvency and all that that concretely entails - or that we believe it does - suggests we have effectively what we need now to move on. Doesn't mean that FRR can come out to issue a statement or release news. Everything remains sensitive and I'm personally not expecting such comms until they are proper ready. But if the declaration is accepted, and can't see how it can't be, then what we've been doing in the field, all that progress we've not heard about (or at least some material proportion of it), must have to be declared as evidence of solvency, I would've thought. What's left is whether we pursue further for damages - there seems to be that point about our posting for claims, which the judge mentions (can't remember the exact language and not sure if this has changed since, if anyone else can clarify?).

Not sure from this point if it's a case of we have nothing to lose by pursuing further in the courts or whether there now no point whatsoever. But if we've dealt with the supposed default, then we are possibly able to move on. Though what happens next over what time frame, not sure. But a relist following some reorganisation and comms when they are ready in the coming months seems reasonable.

Thanks to the regulars here. They know who they are. Ruddy good people.

95% of the asset moved and safe. Hope off the board. Finance should be arranged. Hope paid off. Job done.

...we just need the money to pay Hope off...

...there's also the matter of those monetary sanctions were meant to be filing for...

...I just wanna win!

Indeed Nathan me ol mucker!

Suspect we're about to hear of some significant progress somewhere (finally!).

Good luck to all the genuine folks here.

Gor bless us all, I say...

Anyway, let's be having something positive out if this mess!

If there's one thing I've learned from our court case, it's that the law isn't a concrete machine that will churn out the truth and the facts, leading us to a guarenteed universal, unequivocal justice. We seen how so much is open to interpretation.. Key has been trying to get the story/ narrative across as quickly as possible. For that reason, it has always been easier - in the inital stages - for Hope to present what seemed a stronger case and gain the upper hand. We have, however, finished strongly in Caymans and look to be doing agan here.

Unless he has got his self in a tangle he can't get out of, Hope would be crazy not settling before the case.

Enormous thanks to the regular hard working posters here who have done some immenseamounts of reseach and analysis and kept us going. This is perhaps the best BB on LSE.

I support the email.

If we have the money, worst case scenario is we pay the bar stewards off.

If activities - particularly, exploration and specifically production - have picked up and are going well, cannot see how they cannot arrange finance, including put their own money in if they have to.

The placing not long ago needed to clearing and the shares subsequenyl required further churning, The disruption caused by placings usually last longer than we want and/ or realise. But the continually progressing SP is a testament to us clearing the way. Folks buying at higher and higher SP and the shares to sell in profit reducing all the time (may be leaving only those who may be cannot wait any longer for whatever reason.

Really do believe that we aren't too far from breaking 7p and that news is just round the corner.

What an attrocious suggestion to come up with at this point?! To sue Cairn?!

Agreed that we let the court case run to a conclusion before any new fancy ideas.

Haven't posted a huge amount lately. Just watching how things were unfolding. FWIW, am for selling ARCM stake to get ZULU moving. Pressure off from trying to force Circum, especially if there is something on the horizon. RHA $6million to come, RHA 100days from first shipment from receipt of that monies. Then we never know, with CIrcum perhaps coming through. I just need to know no more purchases or dilution until we have reached safety -- i.e. an SP of 0.40p+ and sustainably.

Keep up the great work Madp - much appreciated here! :-)

Thanks immensely to taffy and to Madr also. Great stuff. When taken in full, without interruotion, it should be planinly clear that we have a very strong case and that Hope's should be increasingly untenable.

Good luck to all the genuine people.

Looking at these 'discoveries', is possible to see how the process of 'Discovery' is taking time, as the avenues need to mapped and then the enquiries made, including the necessary orders to obtain that information. If we are succeeding with making progress here, we have some idea as to how long these processes do take.

Think the citical step is havin the money to pay 'em off. Then we can try for a lot more.

Appreciating the good work of so many here. Thanks to all!

shakey, I stand corrected. Even better ;-))