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Took me 2 hrs to read the whole letter from court. THIS scheme didn’t get approved but the next one will.
The below sentence from the judge makes that clear - Amigo is going bust soon and that’s what £150K+ buy orders are going through...Sell High and BUY low (not sell low).
“There appear in fact to be a number of reasons to suppose the directors of Amigo would have a reasonable period of time in order to assess and promote further restructuring proposals.”
Looks like we’re on the cusp of a new up-trend again. There is a gap to be filled and on good news - a climb to 35-40p+.
Well done to those who didn’t sell on the drop and held their nerve. The SOA will pass - it’s just a matter of time...
Good to see you back on the BB, Vinson. Hope you a good one away.
I feel SOA should pass no issues too as it’s fair and has a majority vote. Should see 35p - 40p in this news setting up nicely for relending :)
Sorry if this annoys anyone, but I’m going to try and keep this on top of the thread.
We could have had a positive outcome already had Freshfeilds covered the above - just read debt camel’s blog to see where the FCA’s ideas come from BOD...
The BOD read these chats (suspension of shares is just one small example of proof).
I want to say to the BOD:
The Freshfield QCs have been good in the past but in this instance had prepped poorly.
The FCAs arguments were predictable and clear as day and nothing was mentioned by Freshfield’s QC to address their points and pre-empt their rebuttals.
- SP is up but investors have taken a hit from £3.
- An alternative to SOA and why it’s not possible.
- the 160M cash is ringfenced
- why did the FCA not object before and only wait until SP was up.
The above are all just minimum points which should have been covered BUT nothing was said.
In the next court hearing, please be better prepared Freshfield!
Here:
https://www.amigoscheme.co.uk/
And Here:
https://thecareerwallet.com/job/credit-risk-analyst-25610144663368948
It's the same judge. He appears to specialise in SOAs and is used to dealing with FCA, customer votes etc - he won't be swayed by FCA's opinions and is there to pass the scheme based on:
- Whether or not a SOA is the most appropriate viable option - this was concluded YES when he progressed to the creditor's votes.
- Do the majority of creditor accept the scheme - this was concluded YES when 95% voted FOR the scheme including the FOS.
- Has Amigo been lawful in this process - YES, Freshfield (Amigo legal council) has been leading the SOA process the whole way through.
Magpies makes a good point for those unsure. Invest a smaller percentage until you’re happy to pile in.
LTH here didn’t just one day have 1M+ shares and TR1s in this stock. More shares were accumulated as Amigo de-risked more and more...
Who lost the vote appear to have found the LSE chat board following their futile attempts on trustpilot along with CMC owners who got a dressing down from Gary...
I’ve still bagged and more at these prices you sour sneaky scallywags! No real investor is listening to your poorly structured sentences with obvious agendas!