Member Info for SunnyRain

What depth was you in that matters considerably I must add that this is for those not in the know where they maybe apprehensive anxious as the money they have invested they cannot afford to lose remember prices may go up as well as down and you should not be in this if you cannot afford to lose it as maybe that's why you feel see above above. Hope and pray this comforts as then if you didn't know know you do. All the nformation is there most of it free. Please I don't want to hear inside comments from anyone if you don't like don't read. if you knew the i pledge then why didn't you pass it on So anyway time time time. The hearing of the petition. At the full hearing of the petition, parties whose interests can be affected by the making of an order on the petition are entitled to be heard and to support or oppose the granting of court protection on foot of the petition and the appointment of an examiner. Where an interim examiner has been appointed, he will file a short report outlining the work carried out by him during the period of interim protection and highlighting any relevant issues that may have arisen during that period. The court has a wide discretion in terms of the order or orders that can be made on the hearing of the petition. However, if, for whatever reason the court forms the view that the company does not have a reasonable prospect of survival, it must refuse to grant the petition and it must withdraw the court's protection. The court may order the immediate appointment of a liquidator in such circumstances. If the court is satisfied that there us a reasonable prospect of survival of the company and all or part of its undertaking it may exercise its discretion to appoint an examiner. The court will consider issues such as whether there has been full disclosure by the applicant, the conduct of the directors and, the impact on employees in exercising its discretion in this regard.

The principal legal test for the appointment of an examiner is whether or not there is a reasonable prospect of the survival of the company and the whole or any part of its undertaking as a going concern. Accordingly, not only must there be a reasonable prospect of the survival of the company, there must also be a reasonable prospect of the survival of the whole or any part of its undertaking as a going concern. It is also necessary to demonstrate that the company is or is likely to be unable to pay its debts. A company is deemed to be unable to pay its debts if: it is unable to pay its debts as they fall due; the value of its assets is less than the amount of its liabilities taking into account both contingent and prospective liabilities; or where section 214b) of the Companies Act 1963[13] applies to the company.[14] A company does not have to be insolvent at the time of the presentation of the petition; the court can take account of a future event which is likely to have an adverse effect on the company's ability to discharge its debts. However, an examiner cannot be appointed to a company which is already in liquidation. The existence of a winding up petition does not, in itself, prevent the appointment of an examiner. Where a receiver stands appointed for a continuous period of three days or more, an examiner cannot be appointed.The period of three days runs from the appointment of the receiver and it is not open ot a peitioner to argue that the period has not started to run based on an alleged infirmity in the appointment. Where an examiner is appointed to a company, the court may also appoint him as examiner of related companies and in a group situation this often arises though each group company should meet the test of having a reasonable prospect of survival of all or part of its enterprise. The Petition The petitioner has a duty of utmost good faith, so all relevant information should be made available to the court. Failure to disclose any material issue relevant to the application may, depending on the circumstances, result in the application being dismissed. The petition should contain a full history and background to the company, together with an overview of its initial trading history. It should contain a comprehensive explanation of the reasons for the company's current financial difficulties and, where applicable, the measures the directors have taken to remedy the situation. The petition should conclude with an analysis of the reasons the petitioner believes the company and the whole or any part of its undertaking has a reasonable prospect of survival as a going concern and of the changes in conditions necessary to ensure its survival. These will also be reflected in the independent accountant's report. Lastly, the petition must nominate an individual (who has given his prior consent to act) to be appointed as examiner and interim examiner,

Examinership[1]:1379–1460[2]:489–608 is a process in Irish law whereby the protection of the Court is obtained to assist the survival of a company. It allows a company to restructure with the approval of the High Court. To obtain the appointment of an examiner it is necessary to petition the High Court and persuade the court that there is a reasonable prospect of survival of the company and the whole or part of its undertaking if an examiner is appointed. The examiner has a fixed period of 70 days[3]:1344 (extensible to 100 days[3]:1369) in which to prepare a scheme of arrangement, which must be approved by at least one class of creditors of the company. If it can be shown that the scheme provides for the survival of the company and the whole or part of its undertaking and that it is not unfairly prejudicial to any creditor(s) of the company the court has discretion to approve the scheme. In most schemes of arrangement an investor will invest in the company and part of the money invested will be used to pay a dividend to each class of creditors.[3]:1321

In this case maybe costs awarded and damages

Irish company law.....Shareholder.Skye say who what. So be patient .... Read the response to the worldview circular given to us shareholders in an rns on the 11th Febuary 2015 remind yourselves.

Financial position uncertainties arising from the petition On 4 March 2016 the Company had substantially agreed with its senior lenders the commercial terms and conditions of a further waiver of payments to 18 March 2016. However this waiver could not be concluded in light of the presentation of the Petition. The Company is actively engaged with its senior lenders to determine their position in the light of the Petition. The Petition was made without any prior consultation with or advice to the Company. Petroceltic is taking legal advice in relation to the Petition. That's a paste job for fellow layman. I believe that pci legal team know there stuff

No idea from me

Constant attacks by. Rouge W.v and posse let's see what will be done by the 4 th April hopefully a bank payment from Egypt connects bankruptcy doubt it. I also am of the opinion that the Algerian asset j.v is what we are all about.

Petition announced to us on Friday 3.44 pm 4 th March bringing on the all time lows 7pence. Response to petition announced 5.45 pm on closed london market. Suspension bank waiver legal advice announced 7.30 am this morning 7 th March before trade opening we could of seen three pence today maybe will see zilch maybe more who knows..

Thank you for your response.

http://www.cityam.com/article/1386117747/exillon-energy-investor-mulls-takeover-offer

Worldview special opportunities master fund W.V EHS international master Fund W.V international mAnagement ltd Read rns 30th MAy 2014 7a.m.

Aviva plc plus

Xxx

Worldview holds its shares through a number of entities and each is entitled to appoint a proxy .The process for appointing a proxy is clearly set out in the Notice of EGM and the Form of Proxy. It makes clear that each shareholder may appoint one proxy only. The Company's procedures are fully in accordance with Irish law and are designed to ensure that all Petroceltic shareholders are treated equally and fairly.

Does imagination technologies have a holding here? Regards.

How does one say. Drop it out jog on

Here is the reminder the senior bank facility has secured its Loans on all assets of the group. Past tense.

Was to maintain production in Egypt and Bulgaria. And in 2018 results out of Algeria a world class asset.

400 million dollars is the price tag.