Member Info for SteveV

Unfortunately I can't see how shareholders will get their money back there.

At least with COPL there is an asset.

Did not all of us shareholders take information from the BOD at face value.

Did not some of us shareholders tell some friends and family what a good investment COPL could be.

We were ignorant of the true facts, were we not.

Yes Beard. My point though is that Cathy was probably simply the ignorant messenger. It is the BOD that fed her the information. It is the BOD we need to go for.

Was Cathy not simply doing PR for COPL and merely forwarding information given by the company.

Well I'm sure that's what she'll claim anyway.

I think we have bigger/better targets to focus on. The BOD and Anavio

I think MC has enough in the kitty now to start proceedings.

I don't think allowing a few stragglers to participate as they turn up will delay any actions.

Yep, I don't think this will be an easy task. All parties will no doubt plead no wrong doing(just unfortunate circumstances), and also have a crack team of highly paid lawyers to refute every allegation we throw at them.

Be interesting to see who MC goes for............first!

We are going to end up with a very large shareholder action group with very large total losses.

Wonder who we are going to go after to get recompense. I would imagine that the directors indemnity insurance would in no way cover such sizable claims.

So probably has to be the money men.

Would they consider some kind of deal to reinstate some kind of shareholder value to avoid protracted litigation?

"...So with Millholland gone and a clearout at COPL and SWP it could be argued that Summit have now done what Exxon required for the JV to progress. I guess we'll see in time...."

Yes, but more likely Exxon will pay Summit the $100m(earmarked for the JV) for the whole lot. Summit make a killing, Exxon get 100% rather than a piece of the action at a bargain price.!

Portsmouth, if there were only £26500 in the kitty we'd be a non starter.

MC has already put the wheels in motion. We are off and running.

I suspect we have circa £200-300,000 in the war chest.

I wonder how we could get some press coverage, particularly in the USA and Canada.

"Private investors fight back against the injustice of being ripped off by appalling corporate governance and duplicitous

financial institutions."

Had mine this afternoon.

Probably be all sorted by the end of the week I should imagine.

SteveE60, get a grip man ! You only wrote this on 25th July

"Had a personal email from Michael cotter today about my concerns and we are in safe hands the other side should now have concerns we've got a winning team RBM thank you and nowget some rest we are all going to get our money back"

"lol, they can forget that having any meaning, it should be written off, that would be their compensation for not going to jail, or worse"

Yes Stas, exactly.

But how do we actually achieve that ?

What about Anavio's huge shareholding ?

Would I be right in thinking that every time someone contacts Mr. Cotter he will be logging the time he spends dealing with it.

He is charging £700 per hour for his services.

Sure he is on a no win no fee, BUT if/when we have a successful outcome his percentage will take the above into account.

i.e. every time someone contacts him it is costing us money.

I could be wrong here but it is worth asking the question.

We bought CUDA with the bonds from Anavio. That was the biggest mistake Art ever made.

Had we bought CUDA with shareholder money (a shareholder issue) we wouldn't be where we are today.

I don't think $150million shareholder losses would be anywhere near covered by indemnity insurance.

We may have to sue the BOD personally for damages ....one by one.

So many avenues to pursue.!

For me it would be the collusion of the BOD to knowingly allow Anavio to trash the SP making it impossible to fund the business from other sources. Our "cornerstone lender" was not supporting the company it was strangling it.

We also need to know why the JV walked away when there was so much money on table.

The JV were going to put in 100m.

Transformational for COPL if that had happened. SP would have rocketed.

Yep, the reply in Appendix D refutes everything the CAG say !!!