Member Info for Timster

I knew that ;)

well.............

D'you think they'd also file this in Cali to help the hearing June 6th?

as opposed to Rainbows crap :)

Statement of insolvency was required today but that was in the Cayman action so it's very slow to filter through.

But Tsbs has contacted the liquidatator to see if they have recieved it, I'd imagine they'd ignore him though

maybe the fshg should do it??? not heard from them in a while

half term holiday

As the proof of Solvency is required by Caymans court do we know if it will also be filed in California?

if not it'll take a week to see it (if its submitted) on the cayman court portal

Starrage, you've sued cairns? How did that go?

I think if they'd been drilling gas wells one of the super slueths would have found evidence. I've done a good 20 mins of googling and can't find any

He'll have filtered you lol

They may also be looking at listing on a different exchange, possibly not even UK based.

Madp,

"Who else could have leaked about the arbitration to TW et al"

god knows, someone in the georgian government, someone in the legal chain that communicates the arbitration request to FRR, the cleaner with his ear to the door, we just dont know

Love your theories MadP, you should write books ;)

I really hope that you are correct too

We dont know if YA were naked shorting though, we also dont know if there is a link between TW and Hope, if there is he's fecked but I cant see him being stupid enough for that.

He's got loads of money from flucking over distressed companies

Best

Predictions if we dont get a buyer? it's not a given that we will

7) none of the above we've all been scammed :(

$150 million obviously ;)

or maybe it is $150 :)

Stupid question. Will they bother with the insolvent proof in FRCC.

FRCC is one of the subsidaries (I cant find that flowchart of all the companies that make up FRR) with apparantly nothing in it so will they care if it gets liquidated?

I wish they bloody would though so we can finally see if
1) they are producing oil
2) The $150 loan is not bullshit

it says in the new doc 28 days from the 1st of May to file the insolvency paper.

so yeah next thursday:

The JVLs sent notice of the liquidation to FIC and the Insider Directors on May 1, 2019. (Second Hope Decl., Ex. F.) The JVLs also published notice of the voluntary liquidation in the Cayman Islands Gazette and filed the liquidation documents with the Cayman Islands Registrar of Companies, as required under the Companies Law. (Companies Law § 123.) After an initial twenty-eight (28) day voluntary liquidation period, the JVLs must apply to a Cayman Islands court for an order that the liquidation continue under its supervision, unless the directors of FRCC have filed a declaration of solvency within the twenty-eight (28) day period. (Companies Law § 124.) Under Cayman Islands law, a “declaration of solvency” is: a declaration or affidavit in the prescribed form to the effect that a full enquiry into the company’s affairs has been made and that to the best of the directors’ knowledge and belief the company will be able to pay its debts in full together with interest at the prescribed rate, within such period, not exceeding twelve months from the commencement of the winding up. (Companies Law § 124(2).) However, a director of FRCC “who knowingly makes a declaration under the section without having reasonable grounds for the opinion that the company will be able to pay its debts in full, together with interest at the prescribed rate, within the period specified commits an offence and is liable on summary conviction to a fine of ten thousand dollars and to imprisonment for two years.” (Companies Law § 124(3)). The JVLs have recently asked the FRCC directors to complete and return to them a declaration of solvency, affirming whether FRCC is solvent or insolvent. If a declaration of solvency is filed by any of FRCC’s directors within the twenty-eight day period, then the JVLs will consider the declaration and decide whether to proceed with official liquidation if they independently determine that: (a) [FRCC] is or is likely to become insolvent; or (b) the Supervision of the Court will facilitate a more effective, economic or expeditious liquidation of the company in the interests of the contributories and creditors. (Companies Law § 131.) If a declaration of solvency is not filed by any of FRCC’s directors by May 29, 2019, then the JVLs shall apply to a Cayman Islands court for the liquidation to continue under the supervision of the court as prescribed by Section 124(1) of the Companies Law

spot on Keysersoze