Member Info for leah16

I now see why the asterisks keep appearing. It's because I am a Liverpool supporter. ;-)

below should say ****nal221! technical glitches...

thank you ****nal211. this is just another dreadful example of the exploitation of "small guy" investors, creditors and employees by a corrupt management and other insiders. we have been shockingly let down by the system and i have simply tried to use the knowledge that i have to put up a fight. your kind note has made it feel worthwhile.

The Official Receiver's office confirjmed to me that Begbies ahd been appointed as the liquidator. My response is below.

Dear Naveda,

The whole point of my detailed notice to you as part of this process was that the Court-appointed Official Receiver would enlist a thorough independent investigation of the directors behind this despicable scenario. TRhe Board have destroyed the lives and livelihoods of thousands of people thought their greed and financial mismanagement and blatant misrepresentations when the company of such rich potential was already trading insolvent. Instead you have simply passed the liquidation buck to the very practitioner that the directors themselves had appointed. The small investors on AIM were wiped out overnight and the directors and secured creditors will come out whole on the firsesale and on the deals made on the restructured project.

The Official Receiver was appointed by the court to protect against financial mismanagement at board level on this scale. The process achieves absolutely nothing to proect the real victims on such a large scale and the directors will achieve a quiet liquidation via their own appointee.

It is clear that the Official Receiver is just another bureaucratic waste of taxpayers' hard earned money.

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Just to say that if anyone else wants to write to the Official Receiver's team to urge that the directors and management are fully investigated under the Compulsory Liquidation process in the light of the financial mismanagment and public misrepresentations relied upon by retail investors then please write to the following two email addresses and quote the reference below in the subject heading. Perhaps more messages will add some weight. My previous posting on LSE sets out below the types of points I made in my own email. (Feel free to pass this on to RIG as well.)

orlondon@insolvency.gov.uk

naveda.arqum@insolvency.gov.uk

Ref: LQD6908589 - Rambler Metals & Mining PLC

I wrote a detailed email to the office of the Official Receiver who is dealing with RMM's Compulsory Liquidation. The Official Receiver is a government officer appointed by the Courts. I gave an outline of the Rambler situation and its consequences for the individual investors in the UK, the trail of financial mismanagement and misrepresention, and the "fire sale" in Canada of an apparently "world class" asset, which is due to be ratified on 11 Sept - which will benefit a select few to the full detriment of individual investors, local creditors and employees. I said that Plinian Capital - owned by Brad Mills - has initiated the Compulsory Liquidation because a large shareholder group voted to block a voluntary liquidation process which woud have been controlled by the directors, and we now urge that the directors are fully investigated. I received a prompt response that my email has been received and has been forwarded to the "Examiner" for review.

I hope that by informing the Official Receiver's team that there are such contentious issues the case can be escalated for a more thorough investigation of the directors and management. We are not creditors with power but it's the best we could do to raise our red flags to the Official Receiver and ask for a full investigation. I just hope it helps.

The company has gone into compulsory liquidation as of 9 August. The petitioner was a creditor, Plinian Capital (owned by Brad Mills). He (and the directors) will obviously want a quick and quiet liquidation with minimal investigation. However, the Official Receiver now has the case and there must be an investigation - which is good. I have lost £32,000 (even buying at a low price) which is no fun. I have contacted the Business Insolvencey Service for advice and I am going to see if we can get as much pressure as possible in the investigation. Nothing to lose and at least we try to get heard. Its obviously better than if we had quietly allowed a voluntary liquidation.

I'm just hoping Glencore bought it and that we are all multimillionaires - and that TheJam4 learns how to spell "you're".

....But maybe Bradbury has persuaded Glencore that this is a world-class asset and become the hero..... ;-)

I'm sorry that many decent people who invested in the RMM group in good faith could lose their savings while those who have caused the loss have been allowed to direct the course of the SISP unopposed. From the messages people are posting seems there are many peeved people out there who feel powerless.

As a strong minority shareholder group we could have used a sensible (and inexpensive) strategy to have our voice heard at the table in the Canadian SISP and put pressure on them to maximise recoveries for us all - not just for the secured creditors. The RMM shareholder group did not want to explore this strategy, so I'm afraid we must now just sit quietly and take whatever might come our way (or doesn't come our way). The timeline says that on 4 August the deal should have reached definitive documentation (with the final approval motion on 11 Sept). We must now just let them take their time to publicise the information - which might even be after the deal is finally approved on 11 Sept. This is extremely unfair but we did not fight our corner.

R2-D2, we really must all move on now. Take care.

Time will tell who was honorable and who was offensive. Let's all move on now please.

And I just noticed another particularly intelligent contribution from R2-D2.

YugoBoss - thank you for your thoughtful input which was much appreciated. It gives me no pleasure to see how things will end in terms of the "bid / class action contributory scheme" which is totally unworkable with no chance of a lawful return. But people made their decision and time will tell how it ends up, as you say.

But the most frustrating thing is that, having spoken to the SISP Monitor (Grant Thornton), the options I hoped we would pursue to remove the disgraceful management of Rambler UK and try to have our say in the SISP in Canada using our stength as a unified investor group were not pursued. In fact I was removed from RIG by the "leader" when I asked to have a conference call to explain my thoughts on options. I believe our only chance was to act together as a group in the Rambler insolvency in UK and Canada.

Kind regards.

Thank you for your intelligent contribution R2-D2.

Santhi - you must stop spreading lies about money until you can substantiate them. I never asked anyone for money. Not once ever. I knew we could all act together to fight our case using my experience to help us all. Yes I am a lawyer by profession but I did not ever ask for money for my involvement so please stop spreading that myth until you can substantiate it. The RIG bid had no substance which is why it has to back out. Eventually you will see that the class action also cannot work in this way, and that money will be lost to everyone. The strong investor group that was created has been broken up by this double scheme and the only beneficiaries will be be receivers of the money paid for the mythical bid and class action. It's such a shame.

The only "imaginary nonsense" was the RIG "bid" and linked class action peddled by some self-styled "RIG ringleader" who has collected money from RIG investors into his personal bank account as the price they paid to be part of his "bid" and unworkable class action while preventing other options for investors to fight as a strong, unified group and remove the directors of Rambler UK. In the fullness of time the RIG investors who paid money into his scheme will gradually realise that they won't see a penny in return (if they haven't already realised, given that the "bid" had no substance whatsover). It's a real shame, and for their sake I hope they dont transfer to him more good money after bad.

Thank you.