Member Info for Krok

Nothing will happen to physical assets, employees, production and therefore taxes. They will continue. Even management can remain as it is. There will be just a new shareholder, as simply as that

Look at Ukrnafta, Ukrtatnafta, UkrGasDobyvanye and other large assets taken over recently. Nothing happened to then in terms of day-to-day operations

If there is a ceasefire at the current frontline, Russia will effectively win, as it retains control over Donbass and parts of Kherson and Zaporozhye regions

However, this would be a big win for FXPO, something most brainwashed idiots here fail to understand. The remaining part of Ukraine will start a huge reconstruction, plus sea routes will be back to normal. Men will return to work from the front, there will be less shortages of electricity, etc

If the war continues, Russia will just take over one part after another. Kharkov, then probably Nikolaev, then possibly Odessa. Eventually, Ukraine will lose access to the Black sea altogether. Ukraine’s population will further shrink, its economy will be completely ruined

Russia will not take over the whole Ukraine, just impossible and not in Russia’s interests. So FXPO will likely still be located on whatever is left of Ukraine, whatever the outcome

So Russia’s win is Ukraine’s loss but FXPO’s gain

There are more than a dozen of sizable businesses in Ukraine which have been nationalized in the last two years. Owners of those assets were robbed by the Government and received nothing. Some of them are in jail

All those assets were private though

Taking over FXPO would be the first precedent of robbing international institutional investors

Yes, something along the lines of confiscating a subsidiary or confirming an obligation to settle a $125 mn claim

Provision in the financial statements is just a non cash thing

Actual settlement of the US$125 mn claim, if that eventually happens, will completely evaporate FXPO’s cash balance

A stock buyback would effectively increase Zhevago’s stake back to a controlling one, something they would most likely want to avoid under the circumstances

Once the pain from a 80+% loss eases a bit, dreamers start telling again about Ukraine's inevitable victory

Going further and further away from reality

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

Apparently, they are no longer a going concern if bankruptcy of their main operating subsidiary is indeed on the cards

So no results tomorrow, the SP may well drop below 40p, I reckon

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

So you want Zhevago to be sent to jail in Ukraine? What’s the point?

It will then be much easier to seize his assets including FXPO

Same for me, but nonetheless was surprised to see such an article in WSJ. Was unimaginable just a few months ago

Https://www.wsj.com/world/russia/its-time-to-end-magical-thinking-about-russias-defeat-f6d0b8de?mod=hp_featst_pos4