Member Info for ElvisRocks

Reading the other court dockets yesterday, looks like Bookers (catering suppliers) put Cineworld UK on stop, but Cineworld doesn’t want this as they are seen as the best supplier and enhancer to concession sales and margin, so the emergency motion seeks to sort out recent past weeks I guess and any beef Booker has in terms of claims and get them to restart supply

Docket 1100 is the one that sets this out

One of the other things I can’t quite work out is whether there was, or ever is, a sale contemplated… the Bloomberg article denied “sale by auction of several parts” which is different to the “sale of some parts within a whole transaction not by auction”

Best way to pick this up is by doing a search on the SM guy called David Johnston, he also mooted the idea of an announcement in early November to the share price spike (but they never went ahead with it). This guy also seems to be in there somewhere on board level changes, wonder if they are thinking of bringing in a big name or Big Swinging Dick and demoting Mooky and his brothers which the market could see as a positive sign

Also any views on what the announcement- had they made it a couple of months ago on the share price spike would have contained or inferred? My view for what it’s worth is that it would have been a calming one, ie why put out an announcement that’s going to trash the share price back down to 1p.

Views.?

Also have to say what a whopper amount of work Kirkland and Ellis did in month 1 alone, a mere 15,000 hours for nearly $9m … quadruple, probably quintuple that or more by the time they are finished….

No idea ted, my hypothesis is a delisting will happen via that route with the takeover panel in there somewhere to ensure fair play .. the advisors are (indirectly) promoting this to preserve tax losses via a work stream being done by EY

Thank you jefff, I leave it to you to cross reference my earlier posts, just those today is all you need to see if there are similarities with what happened at General Motors with the “equity trading motion” … Wolff, and Hexam to be fair, dissed me on the relevance of this but I believe it’s higher relevant and the Plc will be delisted with some of the financial collateral being the preservation of the tax loses that NewCo needs ..

http://bankrupt.com/misc/gm_ipn.pdf

Page 52, only about 3 weeks ago 21 Nov another reference to Investec and the RNS and “the delisting submission” … that’s why they will have had to get their ducks in a row re “script with the Takeover Panel” as it’s the TP that protects us shareholders!

The clear multiple and numerous references to Investec, tax work being done (as well as FCA and “scriptfor the Takeover Panel call”) are clear references to me that the equity trading motion like the General Motors one is nailed on here …

The other thing I would add is the are several SM Partners all commenting on the RNS and references to Investec (at least four partners at £1500 per hour). SM are a sophisticated Magic Circle law firm, and no fools at this stuff, you can see another individual emailing a C. Sim (of Kirkland and Ellis) to confirm timing of same

… so it’s watch this space Amigos ….

If you go back to the Slaughter and May one, given the draft RNS has been in circulation between the advisors for it would seem weeks now, if you search on the word Investec it is sort of linked with a clue of what the next RNS will be, which, is, I think confirmation of filing of the Reorganisation Plan and Disclosure Statement… would any agree or know when the aforesaid has or will be filed?

There are a number of references to Investec but the one re Harry Hecht on 16th November on Page 15 and David Johnston on 29th Nov on page 56 (not so long ago) and both partners at SM, seems the best hint at what the next RNS will be … could be before Xmas even

Here here Wolffie, now go and look at the 528 page whopper bill from Kirkland and Ellis (chief restructure advisor / lead coordinator) and search on the word “equity trading motion” and see both the close references to Ernst Young and the tax work being done and the General Motors Motion I posted the other day … that’s the key link to us equity holders …

Was only a couple of weeks ago Wolff where you were dissing me for the irrelevance / marginality of lawyers bills, now you can’t get enough of them!

Yes folks it arrived, the second SM lawyers bill, docket 1098

https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjMyNDkzNQ==&id2=-1

All you need to do folks is put your PDF find term on and search for the words

Takeover
FCA
Investec
listing
Sale
RNS

I’m wetting my pants in excitement, something BIG happening soon folks including a probable RNS

What about me Wolffie… don’t forget about Elvis!

Document 1092 is the “UK” one and the easiest read, Document 1090/1091 are the very lengthy USA ones about how the creditor committees are getting their guns at the ready, quite hard to read though .. and long …

https://cases.ra.kroll.com/cineworld/Home-DocketInfo

Bulls, there is all sorts of strategising on different forms of implementation plans, Plan A, Plan B etc as well of strategising how the creditors committees will play their cards. I’m pretty sure there will be a new co, whether that is a listed Plc or private company I don’t know.

Nothing for a while and now the third lawyer bill, this one a tad more interesting as it’s uk stuff … dated only two weeks ago getting ready to submit FCA Letter …

Wolffie going to struggle to counter these ones, as over 250 pages of bills …

well well well, what do we have here then, a third lawyers bill (docket 1091), this time the second firm advising unsecured creditors … things of note …

They considered whether to do an emergency sale Motion a couple of months back
Investigate Mookyand his brother for truthful opening statement and wider (presume to see if you can make a claim on directors and officers insurance)
DIP counter proposal being made
Expert used for “valuation” purposes

Will re read tomorrow again, like a treasure trove … Wolffie my love u still ignoring me or ready to pounce and claim the lawyers bill is not what it is …

Oh come on Wolff, would have thought you would have been on it like a bonnet dising me on UK Petitions and NOL Tax and Equity Trading Motions for our shares? Money for Jam etc ….

waiting to see what chestnuts mr Wolff is going to come up with today, he’s not had the best of days on here …. maybe he will swap popcorn for salted chestnuts at the movie theatre

…. come on Wolffie love, where are you today my love?

Anyone know if a wind up petition for the UK Companies has begun yet in the London Gazette?

Hi jefff, certainly was having a peak of the latest 128 page lawyers bill, this one the lawyers to the unsecured creditors committee, it’s easy to be put out by someone of the threatening words in their descriptions, such as Litigation Strategy, meeting with cineplex lawyers … the stand out comment for me was “winding up petition for UK entities” … we actually want that as it links in with the DIP NOL Motion (to protect the $500m tax losses that shareholders have to compromise on, that’s where our value sits, the “compromise”)

If shareholders don’t compromise, then the creditors and company lose a lot more … so let them petition for a wind up, what will they get asset wise at the end of the day a few movie chairs and a bit of leftover popcorn?