Member Info for CF73

Hang in their Lloydyboy. Despite what some say, this will come good, RHA money will come in and don't think it's long to wait at all.

I'm normally one for keeping the pressure off the company, but think an update in Cayman might be appropriate - but only if it's reached a conclusion and does not jeopardise prospects.

FWIW, don't think we have too long to hear about the sign off. Today's RNS was a tidying up exercise, confirming what we wanted confirming - no massive dilution. A chance to see the SP recover following upcoming news on RHA.

Useful point Zen, about Kawaleys write up. Whether or not we hear directly from FRR, we should get a sense of the direction of the case - indeed, the outcome - based upon that write up.

Much appreciate your posts NaPoM and Smilemore, sense we aren't far from sign off.

...that'll learn us! ;-)

Don't think the July Oakland date for the SDR etc.impacts upon the current Cayman process, meaning we may be told of the Cayman's outcome shortly. Was always the case in my mind that Cayman could reach an 'acceptable-but-not-great' OOCS with California involving the recovery of damages. This is with the additional diemsnion of perhaps forcing Hope to offer a better deal at this stage rather than be taken to California.

...and let's not forget the Cayman Judge's most recent comments either...

Agreed tedoby!

Not sure why this is being taken as bad news. There was serious worry amongst shareholders that there was massive dilution heading our way. Whatever was said, discussed and accepted (or not) on these boards, we always needed RNS confirmation if those deals weren't going ahead or were being delayed (and the deals were always contingent that we had the right conditions - or at least that was made the case following shareholder pressure). So now we have confirmation.

Looking ahead now to further news on RHA.

Good luck all!

We still own our shares in the company. Just that the company's shares aren't listed on a stock exchange so it's not easy trading them.

Good post pyro. I'd count having to pay off the debt in full as an 'acceptable but not perfect' outcome of the Cayman's process. Agree paying off loan saves asset, drawing a line under that issue and then we can go to California for damages, with certain facts of the case confirmed.

Shorting scrotii have whats coming to 'em. Hope they all get a rogerin' so raw they never short again.

Zib, I'd tick you up twice for that if I could :D

They should take note of the Cayman Judge's comments about the likely strength of FRRs case on appeal. Is clear to the judge now that Hope/ OMF tried to rush things through in Dec 2018 to avoid evidence against them being gathered and presented - but this move by Hope unsuccessful and being viewed in dim terms by the judge.

As a few have said, there area couple of reasons for going after Hope/ OMF in California:

1. To put pressure on Hope to reach an OOCS

2. To go for damages to a greater degree than would be possible in Cayman

Personally think is possible they have reached an OOCS but that they know they can get more in California, espeically if Hope remains intransigent. If the case is clearly established, with absolute rock solid evidence in favour of FRR, then can see FRR deciding to go for an 'acceptable but not perfect' OOCS through Caymans to move things on (enabling work towards relisting and other related corprate activities) but with a view to pursuing for damages in California, based upon an established case with evidence of de facto wrongoing by Hope/OMF, leaving FRR completely confident they will win (perhaps with a view to applying more pressure on Hope and OMF?).

One thing worth saying is that there should be no doubt that ZM and SN are aligned with us.

Thanks immensely tedoby!

If the Cayman Court proceedings go well in our favour, I do not see the California action as preventing FRR moving forward towards relisting, for what its worth.

Immense thanks to everyone researching, analysing, constructively posting etc.

The news of the case/ summons filed with the California Northern District Court is a revelation. Difficult to know how to make sense of this accept it does seem to be a progression from where we are (or rather, where we were). Following on from the comments of others, it would seem that this is in respect of damages sought, whereas the Caymans case was about establishing the case and now California now about reaching a full conclusion.

I'm reminded that while the capman's court judge seemed initially to find in favour of Hope, his most recent expert comments were very clearly in favour of FRR - and I would say that it should on these later comments that we base our strength of feeling in regards to the direction of the case (as they quite emphatically showed a change of direction).

If the Cayman Judge's more recent comments can be accepted as a measure of the strength of the case against Hope and OMF, it is possible that proceedings with California have been initiatied to a) place pressure on Hope/ OMF to arrive at an OOCS - one that is very likely to be in FRRs favour; and/ or b) to seek substantial damages (where California would be the appropriate place).

We cannot know for sure the strength of each case and who is in turn being unduly intransigent. I just know that the most comments made by the presiding Cayman judge was in FRRs favour. From this, I can only assume that either this further action is to apply pressure to speed things up (if Hope/OMF are trying buy time) and/ or apply for full damages.

It will be interesting to know how Cayman concludes and its relation to or bearing on the California process.

Good luck all genuine holders and folks!

Much appreciated smile! Raising at 0.4p or above would get my full support. Have no problems with that.

Sounds very reasonable to me smile. I would stress though that we do badly need a significant SP recovery before any further raises. That $6million will be welcome relief when it comes. Let it sink and do its work an then consider doing a raise after that and perhaps EPO news on Zulu. That would make a big difference :-)

Good luck all!

Finn, had you not read the last set of court docs?!