Member Info for OneDayRodney1

Tenners: the short answer is "no".

But there won't be anything there anyway as the asset was transferred to FRUS.

Tenners: am completely at one with your frustrations, as I am sure many other shareholders are. We have been treated shamelessly, and are now left with the Company that our shares are in being liquidated. It is not acceptable for the Company to communicate in the way it has; we deserve more both legally and morally.

I think communicating with the liquidators is pointless though as there is no potential upside to it as far as I can see.

Having said all this, I currently see no alternative than to wait and see what happens with everything crossed that SN is doing what is morally right. He keeps assuring us he is ...

Thank you Looed.

I never mentioned 2.5p and believe speculation on a price is completely pointless and premature and potentially irrelevant.

Looed: to us with a tendency to scepticism/paranoia at losing all our hard-earned, your last sentence is odd. It's completely at odds with the rest of your (eminently sensible) post. Can you please explain the logic behind it?

Looed: you're probably correct: from a practical perspective we have no option but to wait (with fingers and toes crossed). Happy to be corrected if someone does have a viable plan.

GLA

Fibber: he can give shares to whoever he wants in whatever the new structure is: so he could give his mates shares and not us.

Having been reflecting, my suspicion is that it's more how to treat capital losses that will be relevant here alas, and, they can be carried forward to offset against future gains.

Our shares are now no more, and, having fed us lines for years (yes, years) to be patient and soon we will hear good news, having seen our shareholdings now destroyed, we are still being fed the same message. We need proof now that we have shares in the new entity where the asset is (presumably FRUS).

Happy to be corrected, but from what we already know, SN has made deals to pay both YA and Mourant and, not only hasn't kept them, but has now reneged on them. Moreover, he engaged Yellow Jersey then didn't pay them and now they've, unless they've been paid, also lost their monies.

From where I sit we have no evidence to trust the guy, yet we are all sitting here smiling as he has given us the same words he probably gave the others he duped, and has been giving us already for years.

All the time, any window for us to do anything is closing fast.

Obviously I sincerely hope this is just paranoia but what do you guys think?

Good morning all

I hope everyone slept a bit easier; I certainly did.

So we will just wait now. Whilst we have reason to be optimistic, we should remember that we now have no rights or powers. We are completely at the behest of SN. He came across as honourable, especially in the televised court sessions with "Zee-eM", so fingers firmly crossed he does what is morally right and includes us all in the future of the business we have all put our hard-earned in to support, and since de-list have actually helped them significantly to get where they are now.

Looed: thank you for obtaining and sharing. That is reassuring. Let's hope they're good for their word.

SN wouldn't have let the liquidation go through unless he is confident that his asset transfer is beyond the reach of the liquidators. I have dealt with liquidators before and never seen any return. In my opinion our only hope (in relation to the liquidation) is to try to get it reversed.

Looed has made the Company aware of the concerns of us shareholders. They've had an opportunity to give us a reassuring message, but haven't. How long do we wait before taking some action?

The advice I've been given is that if we want to get the liquidation overturned we have to petition the court quickly, so I suggest that if nothing happens by Monday morning we could write en masse to the court and see what they say. I'm quite happy to draft a suggested communication; perhaps we can hone it over the weekend and then move into action on Monday, if the Company don't give us a plan that involves us in the meantime?

Thombola's contact has communicated with the liquidators. In my opinion, that's not the way to go, they don't want the liquidation overturned, they just want their fees, but I can understand the frustration of Thombola's contact and at least he is trying to do something.

What do others think?

I really don't think we should just accept that all our investments are lost without at least trying to do something?

Phil: this sounds like the most likely scenario alas.

So I have a suggestion, and it would be good to hear what others think, especially Looed.

Maybe we can petition the court, as shareholders, to say that we don't want to be eliminated (ie liquidated). That we are honest investors in what we thought was an upstanding company with wonderful prospects. But now we know we have been shafted. So we will have a whip round and pay the debts, if the court, in return remove the liquidation and give us control over the company. This may sound ludicrous, but is it?

Otherwise we just sit here and await our fate (probably already sealed).

The facts are that the Company we own has just been liquidated. This is the end. Are we going to just do nothing? We have listened to the Company for years and done nothing. If we don't do something now, then we will never get a chance. It may already be too late. I don't know. Thoughts please.

Excellent measured post Looed. Thank you for this and for sharing what you know and your opinion on it and for your on-going efforts.

Yes Tsbs, the most obvious outcome now is that, having cleared all the debts and obligations (including to us) they sail off into the sunset with the asset, purely for their own benefit and this was the plan all along, with the communication via Looed just to keep us all from causing any problems.

The one caveat to that conclusion, in my opinion, is the fact that they are still communicating with Looed. The liquidation has now happened and so we are history, so why continue to communicate? That gives a smidgen of hope that there is some way around this that still involves us all.

Monti: good logical post.

I asked the question I posted earlier of a mate of mine who knows a bit about liquidations (he is also an FRR shareholder). So: can a liquidation be reversed? He said "not really unless the Directors step in quickly and petition the court." He then outlined potential other scenarios from here and said that much is possible, but can't see us being involved in them.

A petition seems unlikely as SN knew about this well in advance and it would have been straightforward (with no risk) for him to have stopped it happening.

Good morning Looed

Many thanks for sharing the latest message and so quickly, especially bearing in mind the news that Ziggy sleuthed yesterday. It would be good to know if anyone has the knowledge of whether a liquidation notice in the Caymans can be reversed? If not, I don't see how we can still be in the game.

I hope I am misinformed or misreading here, but FRC have just had liquidators appointed. Our shares are in FRC. So is that the end of this miserable journey? I hope someone is able to correct my error here...?

Looed: can I just echo the views of Bedex and Contra?

Please ignore Pyro's rant.

If I hadn't met him and know he actually is genuine and wants this to come good, then, given what he has said, I would think otherwise. But he has clearly gone completely bonkers here.

The overwhelming majority of people on here do not share his suspicions/views/conspiracy theories/whatever, so please ignore what he has said and carry on doing the great generous work you are doing.

Thank you.

Good morning Looed

Many thanks for obtaining, and sharing, the Company statement. Good to have that reassurance.

Re your list of unresolved cases, isn't there a Yellow Jersey (or whatever they're called!) one too?

Good point Looed; thanks!