Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
*net of estimated costs (typo correction)
Yuri - with respect this is simply the way the accounting work.
When a case is in progress at a year end the unrealised profit estimate (not of estimated costs) is posted to the Balance Sheet and P&L. Once that case completes that UNrealised profit is reversed out. And the actual Realised Revenue and Realised Costs are posted to the P&L. So there are no strange "trends" here. Simply accounting convention. Hope that makes sense.
I agree BigBoo. I would also add that:
1) the £10k payment on dual track claims is more a problem for a Liquidator running a case without funding. He/she is not going to put that money in and the Company obviously has no money. Therefore makes Manolete solution even more attractive.
2) Reading the judgment on Hayward and Barrett the very senior insolvency judge clearly sees this as an aberration in the system and therefore it seems likely that the procedural rules will change soon enough
I suspect Yuri and a few others on here work for rather envious wanna be competitors. I note for example that RBGP signed up only one insolvency claim having made a loud noise about eating Manolete's lunch. They have now rather sheepishly withdrawn from the insolvency claims assignment market. Maybe they and others are appreciating the very specialist skillset that Manolete has developed in-house over a long trading history covering hundreds of claims.
Very large UT at close. Very positive.
Patience being rewarded
"Ladies and gentlemen, please fasten your seat belts.....we are now taxing to lift off"
Agreed. Stunning update.
Jammy: you have been chased off many other boards, so high time you gave up being a keyboard weirdo. Get some help professional help my friend.
Jammy - you stated you sold at 200p on MANO. Fact. These boards are for honest and respectful debate. Wishing everyone luck here. F
Meh....R&M building a position was a core part of my thesis here. Now they are reducing. Reluctantly an exit now for me. Will come back in if they start announcing material completed cases and the long overdue second fund (was meant to be announced Dec 2020 at the latest). The high rate (13% ?) they are paying on their new debt facility worried me (the lender will have looked closely at forward cash flows). BUR paying 6% on their debt and MANO paying 2%. And now R&M reducing.... Very best of luck to all.
New CFO looks impressive. I think credit due to Mr Killman for greatly improving the financial disclosure during his tenure.
Rocket emoji
Impressive.
In American accent: “Go Burford”
Well said FFc. I see blue - so enjoy your walk even more now ! :-)
Yes - fair point Bladey. Maybe add 6 months ??
The potential (stress) Peterson settlement discussions make it well worth hanging in. An interesting moment.
Very fair comment Stnz. Like you, I am healthily sceptical of things like the FF video. However, I have been following this company pretty closely since it listed and FF’s thesis is sound. The key is: now LIT have hit their 27 month avg case gestation period, they have to show real concluded case results. A second fund would also be a huge plus. Both of these factors should drive the SP forward.
More support for the sector as a whole. Top quality source.
https://blog.alixpartners.com/post/102gwpe/funding-market-readies-itself-for-a-spike-in-litigation
This backs up what we all suspect. This should wake from its slumber before too long:
https://blog.alixpartners.com/post/102gwpe/funding-market-readies-itself-for-a-spike-in-litigation