Member Info for FigTreeHarry

Oct 13th reads
Adjourned winding up petition
G3 Exploration

Finally found them:)
Cheers

Will do thank you.

Morning G3e’s
Where / on which file did it state McMillan is the judge on G3e case?

Could you send me file, as I missed that. Thanks Figgy.

I can see McMillan,
Can’t see under Financial-Court
writing judgement for Thurs/ Fri under his name.
Nor case FSD 229.
?

Thanks for update.
I’m guessing 5 or 6 large shareholders will know something more. Its always like that !

Any financial whizz willing to work out Financial daily penalty on delay? $220m + interest /fees?

ForeverMike1

Are you referring to Tom Smith the QC or Judge?

Or are you suggesting the case hearing took place on Oct 13th-14th and now we simply await the Judgement?
The email from KY suggests they can’t confirm either?
Thanks
Figgy

Hi Gents,
Hope you are both right.
If there is a buyer and it’s case of get it over the line and conclude, then the Nordic Trustees can have their debt paid back, any further delay, each day adds additional costs/ interest, legal fees, thus reducing the shareholder value. They must be aware of this, plus on conclusion chinese gas production can resume immediately once Nordic Trustee are happy and allow. The local chinese Govenor is now involved to ensure gas production resumes in local region as soon as possible. As folks are suffering from this case. This all adds pressure on G3e and courts to get over the line and resolve asap. This is public information as many know already.

In addition there are Numerous other plc’s undergoing sale disposals and selling of large assets in this environment to raise necessary cash to pay creditors/ debt, but come through in better shape.
G3e, we owe around £200m - £210m currently I think. ($200m in June filing)

This has to be days away therefore?

Evening,
I sent an email enquiry yesterday, as G3e had not responded to my email.
This time to Judiciary through web. Prompt professional response from Judiciary.KY this evening.
I would like to share this with you:

The response:

Subject: Nordic Trustees v G3 Exploration

Dear Mr xxxxxxxx,

His Lordship has advised that there is confidential information to which only the attorneys are privy to in these matters, therefore the Courts cannot at this time provide any information to outside parties.

Nonetheless, your email query was forwarded to the relevant parties.

Thank you

Xxxxxxxx

To Judiciary:

Subject: Nordic Trustees v G3 Exploration

Good Morning
I am enquiring from the UK.
Regarding the above Case which was expected to be heard Oct 13th-14th – 2 day hearing.
Could you kindly confirm the Case was heard on Oct 13th-14th?
When is the final verdict/ judgement expected?

I tried searching on your website on financial judgements. I cannot see either filings.

Thank you in advance.
Mr xxxxxxxx

Thanks IKN

It maybe better Idea to ping an email to Nordic Trustees, as they brought the case?

By the way,
The longer the delay in resolve “the more it costs in terms of interest/ plus costs..
They know this, its how to ensure g3e resolve asap.

There are a listof cases called : unreported caes, which you have to pay for?

Read the June case file
Section 12 points

It mentions a visit was not undertaken due to covid to see operations../ subsiduaries
Not sure if this has any relevance also?

Still no news...Bahhh

https://www.harneys.com/our-blogs/offshore-litigation/2017/07/02/food-for-thought-is-it-time-for-a-dedicated-restructuring-officer-in-cayman-islands-law/

The difference with this estimate is the no of shares held, if all are held and even if some new shares are released we could see this reach a crazy no as we see with NYCT.

A Cash machine ...

Cando,
I think we’ve all exhausted the calculator doing number crunches.

My best guestimate has changed a few times.
Asset Valuation back to shareholders after £200m debt/ interest/ fees etc is paid has to be around “lowest estimate £300m at least” highest guestimate valuation on sale could be £450m. Thats without new / existing equity as part payment.

£300m-£450m
£2.17 - £3.24

Gents ,
After this stock, I’ll wanna take a break, imagine holding this kind of stock for 2years??
At this stage we are thinking did the case take place?
Was it postponed?
If it took place -When is the verdict
What is the verdict?
Positive restructure agreed, with a full payment date agreed?
Negative?
What are the details of the restructure, cash/ part equity?

Stock returns at what price on opening? A whoosh or a WHOOSHHHHHHHHHHHH?
13 days....
£1- fair play VAR required
£3 - MARKY and Figgy are dancing on tables...
£3++ Roobs and IKN are getting jiggy with it....
£6 -£9.47 - Radio GAGA ON FULL BLAST...........!!