Member Info for Mooching

Good, hopefully we can now move on, Rolf can keep his hands out of the till and we can avoid any further F ups?!
Can we start to actually improve 'shareholder value'?
We're waiting and watching...

Cont...
Costs appeal

On Friday 17th March there was a second hearing on one particular part of Deputy ICC Judge Kyriakides' costs judgment, which the defendants had appealed against. In particular, D1 and D3 were appealing against her decision that MetalNRG did not need to pay D1 and D3's costs from 13th September 2022 onwards If their appeal succeeded, then they would have been granted their costs (to be paid by MetalNRG) from 13th September 2022 through to 28th September 2022,

The appeal was refused.

The effect, as with the substantive judgment, is that the costs judgment made by Deputy ICC Judge Kyriakides in September 2022 stands and MetalNRG is entitled to their reasonable costs up to 13th September 2022 on this particular action.

The amount of these costs will be decided by detailed assessment proceedings if the parties cannot agree them.

Costs of the permission to appeal and costs appeal proceedings

Finally, the Judge awarded the Company £23,805.61 in respect of its costs of defending the entirely unsuccessful appeal proceedings. It is expected that these costs will be payable within 14 days of judgment which was on Friday 17th March 2023.

Rolf Gerritsen commented:

"We are delighted with this outcome which fully vindicates our approach. Brit Energy Holdings and BritNRG Ltd (of which Mr Rocco is a significant interest holder) have now lost in London's courts three times, Mr Rocco himself has lost in Scotland, and more importantly there is no further recourse in the London courts on the summary judgment case brought by the Company. Not only have we secured the repayment £1,019,999 but we have secured an order for the Corporate Defendants to pay our costs and interest on the principal amount. We sincerely hope that Mr Rocco and his affiliates will take notice of this judicial trend and allow the Company to focus on value creation for all interest holders rather than continuing to take untenable positions against the Company's (and investors') interests."

21st March 2023
MetalNRG plc
Legal Process Update

Significant win for the Company

MetalNRG plc ("MetalNRG" or the "Company") announces the outcome of the High Court oral renewed permission to appeal hearing held on 17th March 2023 concerning the Company's claim for the return of the £1.02 million it paid to the corporate defendants, Brit Energy Holdings LLP and BritNRG Limited (the "Corporate Defendants").

In Summary:

· The Corporate Defendants appeal was rejected and the outstanding £574,000 is now to be paid to the Company

· The Corporate Defendants were ordered to pay interest which currently stands at £37,385.78

· The Corporate Defendants were ordered to pay £23,805.61 to cover the Company's appeal costs for the summary judgement

· The Corporate Defendants have been ordered to pay the Company's legal fees for the summary judgement proceedings with agreement to be reached on the final amount due

The Corporate Defendants had lost their case in the first instance and had paid £450,000 of the £1.02 million to the Company. The defendants had sought the right to appeal the summary judgement issued previously in respect of the £574,000 balance (having already had such permission denied on the papers). The Corporate Defendants also appealed a portion of the prior costs award made in the Company's favour.

The Court found in favour of the Company in both respects; refusing the Corporate Defendants leave to appeal and denying their substantive appeal on costs. The Corporate Defendants have been ordered to pay the Company's costs of these failed appeals.

Main appeal on the substantive judgment;

Brit Energy Holdings LLP ("D1") and BritNRG Limited ("D3") applied for permission to appeal the decision by Deputy ICC Judge Kyriakides to grant summary judgment in MetalNRG's favour on its claim against D1 and D3 under s190 of the Companies Act (substantial property transaction requiring shareholder approval that wasn't obtained).

Consistent with the prior ruling on the papers, permission to appeal was refused at the oral hearing on Friday 17th March the Judge saw no real prospect of the Corporate Defendants succeeding on their appeal, and no other compelling reason that there should be an appeal.

This means that the judgment made by Deputy ICC Judge Kyriakides in September 2022 stands and the stay of execution that was granted to the defendants, in the interim, has now been lifted. Which in turns means that the total principal amount due from D1 as at today's date, in respect of summary judgment is £611,385.78 (comprising the £574,000 of the original £1,019,999 that they have not yet paid to MetalNRG, but is with the Court, PLUS £37,385.78 in pre and post-judgment interest, which continues to accrue). It is expected that the sums already paid into Court will be promptly paid to the Company, and that the remainder will be paid to the Company within 14 days.

...start eating each other.
I see very few 'believers' left on here now. I just look in maybe once a week, and I guess most others are the same.
The Rats have fewer and fewer to prey on and are almost scrambling over each other to gorge themselves on any morsel of positivity.
When the last 'believer' leaves, will the Rats start on each other?
I suppose they have other BB's they can feast on too (Snoop et al), so maybe not.
Either way, looks like this BB is all but dead as source of information or collaboration.
Well done the Rats!

Ukraine doesn't have nuclear weapons as it gave them up as part of that deal everyone keeps blaming the West for ignoring...remember.

DATTABASE
I actually agree with you about Blair, but unfortunately, as with all tankies, you completely ignore self determination...99% of Falklanders want to remain British.

What would have happened if NATO dissolved after the fall of the Berlin Wall is an interesting debate, but given all the ex-Soviet nations wanted to align themselves with the West - and after decades of tyranny ( Hungary, Czechoslavakia etc) who would blame them - there would only have some sort of NATO v2 anyway.

Russia and China hate the organisation not because of ideology, or actions, but great powers rely on division to conquer, it's unity frustrates them immeasurably.

The UK had been civilizations greatest proponent of this strategy for centuries, but times have changed, the world is too small and too well connected, shame Xi and Putin didn't get the memo.

Rickstars
Exactly! Tankies always rant about Western Hegemony, whilst China and Russia go about invading, annexing, genocide, debt trapping, expanding into other nations economic zones and threatening nuclear war!

There's good reason why Marxist nations envy the West and it's not the West's fault

Of course it's about regime change, the same way regime change was required in 1939!
People who go on about 'hegemony' need to stop reading conspiracy theories and try to explain why sovereign nations and their leaders look West for their future prosperity and security, not East.
It's you who are blind, blinded by your own faux intellect and belief only you know the 'real truth'.
This is real politik.

DATTABASE
Not sure how you can accuse me regurgitating nonsense from the web, then tell me to go and watch one person's opinion on the Web?

I was wrong, the current account deficit in Jan was $25bn...
https://www.reuters.com/markets/russias-jan-budget-deficit-widens-energy-revenues-slump-2023-02-06/

Just one example of materiale depletion, look at missile attacks, less frequent and lower quantity fired.

If there's no issue with air forces, why are troops being sent en masse without air support?

Oil price is falling, energy prices are falling.

300k soldiers, really? Prison inmates and forced 'labour' from the Eastern provinces is not an army, it's cannon fodder. A well equipped Ukrainian defending his home is equal to ten of these, at least!

I believe the so called 'offensive' has started (forced by Western weapon commitments) which is no doubt earlier than Putin would have liked. Yet another indication he has lost the initiative.

Facts!

You are in denial I'm afraid.

There's a number of people here and elsewhere attracting a lot of attention through taking the contrarian view. However, none of this changes the facts...
Ukraine is a sovereign nation, illegally invaded by Russia.
Russia is running a current account deficit of $20bn/month which is about to get a lot worse, now the refined oil products tap has been turned off to the EU (5th Feb). Yes, he had a $650bn warchest, but even if the 'war' ends tomorrow, sanctions won't be and Europe is now virtually structurally disconnected...future revenues?
Russia is losing men and materiale faster than Ukraine, and is struggling to resupply both.
Four times the population, yes, but Ukraine is already in a state of general mobilisation, Putin knows he can't do it.
China ain't gonna bail him out either, they're on the brink of a banking collapse.
He's got one last throw of the dice, and I'm betting against him.
Ukraine will lose ground, of that I have no doubt, but every yard they advance will be at massive cost and plays right into Ukraine's hands.
He's gotten the strategy wrong from day one (three) and is continuing to do so (Never interrupt your enemy while he's making a mistake).
Russia is already a pariah state and it's about to become a vassal one too.
Putin the Great...lol

Ironically, when this ****show ends, whoever is in charge will be so desperate for cash, any asset sale we might have should get waved through.

Although not strictly true, I get the sentiment, it's how I feel more than often. most of my other stocks seem to be in terminal decline regardless of news good or otherwise.
Volatility/volume has increased here, which attracts the traders, hence the Monday bump and Friday slump, just focus on the long term.
Threw another £500 at this near the bell (averaged up).
Luck's gotta change sometime right?
Lol
Have a great weekend.

Hence the price?
Rinsing nervous PIs to feed the pigs?

PI's take all the risk.
If there's viable assets the price is dropped for the pigs to get their snouts in the trough.
Or worse...
It declared as unviable, share price collapses and a corporate/bond holders/debt holders take it for peanuts with the Bod lined up with another nice cushy job.
However...
If more money is needed, the price goes up to trap more PI's.
The world of small caps, no wonder AIM index is tanking while FTSE100 is at a record high.

*tuned

Welcome to your next instalment of "Crown Court", stay tubed!
Do you think we'll actually EVER get a return on our 'investments' or simply spend years trying to get money back for Rolf to spend on maintaining his lifestyle?

Fishing trip

I see a certain 'contributor' achieved their aim of getting LB's very informative thread pulled?!

LSE really need to start taking down the disruptive posts, not the threads, otherwise it just rewards the turds and what's the point of the BB?

Saw two vids yesterday, one of T34/85 tanks (1950's vintage) being transported back to Russia from Laos ("be used in military parades, museum exhibitions, and films about World War II"). Comedy timing, or desperate?
And, Belarus pressing vintage transport wagons back into service.
Things you need to do when you have a 15,000 mile land border to defend, a war going on and rising internal discontent eh?

Dattabase
I hope they put you in charge of the divi.
Talking of divvies...
PS if Putin could get away with declaring war and a general mobilisation, he'd have done it by now.
PPS Vietnam War, USA 200m, N Vietnam 19m. Shows what a country fighting for it's existence can achieve ;)

"China" hasn't existed for 500 years.
The China you and I know didn't come into existence until 1959.
There is barely ANY cobtinuity stretching back before this date.