When some of us first invested in FRR Labour were in power and no-one had thought of Carbon Zero ...
Monti: you do come up with some strange hypotheses. Yes, I have read the report, but probably only the 56 times ... I want this to come good, along with almost all the posters on here. My loss is life changing and I'd like it back. I asked the question as I genuinely don't know whether there's a mechanism for Liquidators to get paid their expenses, or at least an element of them, by the Cayman Island authorities in the event of there being no recovery from the Liquidation.
Apologies Lifeishard, I had some bad news yesterday and it clearly affected my sense of humour as I completely missed the sarcasm.
Would still be interested to learn what others think about the questions I posed re Deloitte's attitude to the liquidation and whether they do need a positive outcome in order to be paid?
Lifeishard: I'm afraid the Deloitte "very minor" issue, is a "very major" issue. Having said that I have no idea how long we have before the liquidation is finalised. Hopefully they allow as much time as possible for a positive outcome to materialise. I assume they will give it every chance as that's the only way they'll get paid presumably? Unless the Cayman Island authorities will foot their bill?
Indeed. Best wishes for a swift recovery erazzel.
Contra: you clearly haven't read the report, presumably as you haven't been able to get hold of it. What you say is not what is happening and will not happen.
Contra: they're trying to reverse the liquidation. If successful then all shareholdings, including all of ours and Zaza's (unless there's a mechanism such that he had to forfeit them), will remain in FRC as they were before the liquidation. If unsuccessful then FRC is liquidated along with our shareholdings and the asset is gone too.
If the funding had been accessible then it would have surely been accessed before the liquidation deadline (to save loss of control and considerable additional cost), so it suggests it is doubtful it will come now... bwtfdik
****nal: this is a clever way of trying to get a feel for the content of the report, so credit to you for your ingenuity.
however, having seen the recommendations i can only assume that there are a couple of folks on here who have messed up your exercise.
Lifeishard: not intended as a dig at FSHG. They put in a huge amount of effort to firstly form and then try to set up a dialogue. I was a bit disappointed at their disinterest in the suggestion and perhaps that was unintentionally reflected in the tone in my post.
Erazzel: you're correct in that the Liquidator fees dealing with the emails will be significant especially if the have Directors dealing with them, like happened with mine. If we were to survive this then these exorbitant Liquidator fees will have to be paid first. So it's a shame that FSHG didn't agree to try to take the burden off the Liquidators, although I accept they may not have been successful if they had.
Tsbs/Monti. I'm sorry but I have been told to not say anything so I won't. I'm sure someone will get it soon and be more open, but anyone hoping to get it via FSHG won't as they have informed me that they "are not interested in getting involved in this".
Ian12: they will be able to trace where the leak came from through lse. I would also add that one can't anonymously share the report as they emboss your personal email address all over it.
You will recall that I did reach out to FSHG with a suggestion that they contact the Liquidator direct to obtain the report for their already verified shareholder members. That was first thing Saturday. I haven't received any response/acknowledgement from them.
Tsbs: We all know the facts: we are shareholders in a Company that is currently being liquidated. As part of that process the Liquidators produced a first statement which included that they had discovered no liquid assets and that there were creditor claims. These are the facts.
As part of that process they've now produced a Liquidators' report. I have been told not to say anything about what's in that report.
Good morning Lifeishard. Apologies I missed Avi8r's post. However, I did reach out to FSHG via a friend on Whatsapp first thing yesterday. I was concerned at the Liquidator cost in having to verify shareholdings before sharing the report, especially as my email was dealt with at Director level(!), which will be expensive. So I suggested that FSHG approach the Liquidator direct and suggest that they could distribute the report to their, already verified, member base, and in so doing save a big chunk of Liquidator costs. I haven't heard anything back from FSHG yet.
Ziggy: I didn't receive the minutes of the meeting, I received the Liquidators' report which should have been prepared and presented at the meeting, but wasn't finalised until after the meeting.
I accept the sniping point. Being a longstanding stalwart of this Board you will understand that I didn't start that particular round of sniping and was the recipient, but in respect of yours, and I am sure many others, views I will now let that issue lie.
Toatie: apologies I have been out for the day. Thank you for answering the question Bezzy; all the best.
NJames: I have seen nothing that says the Liquidators took issue with the content... or that it caused the Company to lose credibility?! Do please share if you have any evidence of such. I'm sure you wouldn't make such remarks without evidence would you?
Good evening all
The Liquidators' first report to creditors has just been published, and as a shareholder who requested it, I have a copy.
However, I have been informed that the report is confidential and I cannot "quote, copy, distribute, or disclose" its contents.
So I can't say anything further, except that any shareholder is entitled to obtain it from the Liquidators.
Note to Monti Burns, NJames and a few others: in your World you probably don't understand why I am not prepared to reveal the contents on here as the Liquidators would never be looking on here right ....?
Cazbraz: I hope you're keeping well.
I have a share certificate for the element of my holding that was chucked out of my ISA when they delisted and I sent this to Deloitte. The bulk of my shareholding remains in a nominee account which I guess may not appear directly in my name on the register. I will keep posting anything I do receive on here, despite the sniping it engenders from some, as I believe that this is a forum to help us shareholders find out what is going on with our investments.
Talking of which: Monti - yes my info was from Deloitte. They haven't confirmed specifically that the scheduled meeting went ahead but the implication is that it did.