The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Down 60% in the last 12 months, not because of the war but primarily due to company’s specific issues
Was lucky to exit at 90-ish last summer. Considered to buy again on a couple of occasions later but fortunately never did
Fogthemogg, because in either case (bankruptcy or seizure), FXPO will be a completely different company. So a going concern basis in the financial statements is no longer applicable
But the bankruptcy would normally take at least 1-2 years and can be reversed. Perhaps, that's the plan
Roxi, that debt has nothing to do with its amount, it is irrelevant
My best guess is that FXPO is trying to initiate a managed bankruptcy of FPM to avoid the asset being seized by authorities. Otherwise why would a related party initiate "creditor protection proceedings against FPM"?
Any legal entity of FXPO group could easily settle that debt on FPM's behalf. Still FXPO prefered to claim it is unclear whether "funds will be received in a timely manner"
So, again, it seems that FXPO is trying to save FPM from it being seized. Using a bankruptcy as a last resort
Sounds extremely bizzarre, I know. Anyway, I presume you can forget about accounts being published any time soon
Seems that people underestimate the seriousness of what's going on. For me it is pretty much obvious FXPO will soon lose FPM, one way or another
It would be completely insane to invest right now. For those still holding now is the time to exit, however painful that could be
Frozen accounts means they can’t pay salaries, they can’t pay taxes, they can’t pay anything
So other creditors will go to courts in no time. FPM will sink sooner rather than later
The creditor applied to “potential opening of creditor protection proceedings against FPM” - is this the first step in a bankruptcy procedure?
The creditor being a related party to FPM is the most bizarre thing. Are FXPO planning a managed bankruptcy of its own subsidiary? Don’t understand this move, anyone does?
Any idea who is a claimant in this case? Also what was the original loan about?
At first glance, it seems that this is a purely commercial matter, where FXPO’s provided a surety against a loan. The borrower did not repay the loan, the creditor transferred its rights to a third party, who went to court
if those advocating for peace are stupid, then those still dreaming of ukraine defeating russia are mentally ******ed
ukraine will have to pay the price for the dreams of its top clowns. it is a loser in all regards. territores lost for ever, millions fled the country, many of them will never return, hundreds of thousands people dead, infrastructure destroyed, economy completely ruined, dependance on external financial aid higher than ever, etc
all because a few clowns once believed they could win
game over for ukraine, the outcome will be a capitulation. what it could get back in spring 2022 is now out of question
this is by now becoming clear even for the most avid dreamers
Seems that the company is really desperate and as such is trying to use every channel available to send Ukrainian authorities a message to leave it alone
So there are additional charges to subsidiary’s management. Surprise, surprise
$11 mn for a bail out to let one person escape the jail till the decision is made - are they nuts?
Even if the trial takes one year (which is way too long), it is $30k PER EACH DAY
Unbelievable
Naturally, there will soon be more orders like that with regard to other members of the management team. Great and easy way to get cash out of FXPO
In the meantime, Kolomoisky, one of the richest men in Ukraine, has chosen not to pay a bail (though a larger one) and instead remain behind bars
Trojan, what do you smoke, lol
Ukraine tried peace talks? Really?
Their first requirement preceding any peace talks is Russian forces going back to 1991 borders. Meaning out of Crimea as well. And then there is a dozen of other things which altogether would make a good comedy show
Sooner or later the Ukrainian clowns in power will be left to their own devices. And then it will become plain obvious who is worth what
For the time being, however, the Ukrainian sponsors still want it to continue bleeding
The country is devastated, it will never be back to normal. At least not until it recognizes new borders with Russia and gives in the territories occupied by Russia
Kolomoiskiy, the creator of Zelenskiy, has been arrested today
Most of his assets in Ukraine have been confiscated over the last 12 months
If Zhivago were in Ukraine, he would most likely have been in jail by now
Zhivago’s assets will likely have the same fate
LSE listing is an insurance for FXPO. But is it a guarantee?
By buying oil from the likes of GKP at $30/bbl, someone is making serious money
The question is who is the beneficiary of this? Can it anyhow influence the decision making process re pipeline launch?
May it be the case that local sales at heavily discounted prices is a new “business as usual”