Member Info for ElvisRocks

Got to hand it, to who I think is known by patience on this board, together with many others on this board who aligned with him is getting his letter over to the judge into Texas and onto the court website … well done!

https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjM5NTAxOA==&id2=-1

@wolff, any answer to what happens when all shareholders vote - which they inevitably will as they have been told to expect £0.00p - against any General Meetings called, anything or nothing? I presume bankcruptcy law and what is happening now trumps any objections voted at General Meetings?

@wolff, your view on the following…

One or more General Meetings on a quick scan of today’s submissions will be required. Of course any shareholders choosing to vote will vote them down as they are effectively be asked to vote for zero pence return

What happens then, what are the implications of that?

@wolffie, what other recent years C11 are you aware of where outgoing shareholders got a big fat zero, even some of the other basket cases got 0.05% or similar, have any others ended up with zilch, either those that judge Isgur has presided on or elsewhere to your knowledge?

I am with Wolffie and share his views on the ridiculousness of what patience is trying to believe … the directors and the company have been well protected and advised by thousands of hours of top firm lawyers hours, this kind of ridiculousness of what is being proposed on this board won’t even touch the sides or the judge… it will go straight in the bin ..

More chance of getting that rocking horse to fart and play a round of golf on Sunday at the Augusta Masters ….

… and it won’t be listed as a new co, so any idea that we can buy into new co and share in the spoils of the restructured slimmed down reduced debt entity ain’t going to happen …

On page 112 of the RSA, says new co, at the effective date of the plan, no longer needs to be subject to the SEC or FCA rules or list its stock, so this will be a slow drip down to 0.00p and then delisting will happen

@patience, why don’t you just upload it to the Kroll site directly, just like the John Hurst Trust in Norfolk did (possible they may have gone through the court clerk in Texas)

@warren, how does all this square with what they have told us, either a sale or D4E is a total wipeout, I think the words they use is “no recovery for shareholders under either scenario” … would love it to be 2%, 3%, 4% or whatever of course I would but it’s a big fat zero they are telling us in a RNS no less …

If we get 0.01% (diluted by 99.99%) on anew co worth $4bn, the market cap will be $400k, at $6bn then $600k … on 1.3bn shares, that’s not a lot per share … do the maths!

Whoop whoop … here here … let’s raise a glass to Wolffie …. all aboard the Wolffie train, I’m certainly one who has his tails between his legs after thinking I knew all, shot my mouth off and said we would get 10p or more out of Cine in the final outcome when in fact we will get nowt as Wolff has said all along, he has never “talked up the stock” to be fair ….

@hexam, also thank you for posting what s656 means, the 28 day element will probably be linked to finalisation and the audit committee meeting being held in the last week or so possibly

… also if they did not do this, the lawyers will have told them they are at risk of wrongful trading

All still a sham though as they have already made the decisions they have to make, nothing any shareholder says will change that. The directors are being massively advised by lawyers here ..

@hexam, I would imagine there has been a massive write down of goodwill, all $4-5bn odd, another docket says the accounts are being QC checked as early as February with the numbers already internally known.

The General Meeting is another scumbag event, April 20 is a very close date when any auction bids have to be finalised but they can say to the judge “we met with shareholders and heard their views” but they will still get nothing, so it’s procedural nothing else to say they have met with shareholders, the decisions have already been taken

The reference to shareholders getting nothing they have to say to appease the creditors and they ram them also into a corner to lose 99.999% of what they are owed

I am in London myself on the 20th and would have gone to the 10am meeting but unfortunately can’t get out of another meeting at the same time.

Got to laugh at that RNS, Cineworld saying it “values dialogue with its shareholders” but under either a sale or a reorganisation plan, shareholders will get nothing …

Ok fair play with that answer Retail, who would they be looking to recover money from, the directors D&O insurance has been comprehensively examined from what I can see in the creditors legal bills, ie whether there is any basis to go after Mooky or Cine in those policies?

If a class action won a theoretical class suit, who do they expect to be the payee, even if there is smart a..s lawyers involved?

More specifically… how can anyone call Tesla debt “junk” beyond me, will be saying the same for Apple or Saudi Aramco next!

https://uk.finance.yahoo.com/video/moody-upgrades-tesla-credit-rating-145828649.html

@wolff, change of topic unrelated to Cineworld

I saw on Bloomberg last night that Tesla had moved out of junk status and is now considered, by Moodys I think, investment grade, what’s all that about I thought Tesla, one of your best ever stocks, was safe as houses?

Retail, I nearly spat out laughing my baked beans on toast when reading your post. Do you really think the most heavily advised directors by multiple high profile law firms are bricking their pants worrying about a class action lawsuit from PI shareholders or even institutional shareholders?

I think the phrase is “more chance of seeing pigs fly”!

@ Wolffie, just wondering would you invest in Credit Suisse at the moment or do you think it’s about to go t..ts up?

… it’s pretty clear and obvious they are selling ROW when you read the early part of the latest lawyers bills, docket 1410, talks about all the things they are doing process wise to get the bids in, so it won’t escape being sold …