Member Info for tomcat-14

do they need a hearing for a ruling... they’ve been told to decide on a settlement or execute their guarantees...

and nothing in friday’s rns to say it had been moved to july either...

i’m taking that r$185m to be the already unsecured creditors... 4.4 and 4.5 in the jrp... who have a pre-prescribed discount and payment schedule as stated...

intesa r$559m + indo r$207 + banco r$207m... r$974m... cut to r$818m... they become unsecured... once a settlement is reached...

except the secured debt is r$818m... what is good news to know though... is that it looks like the project is going forward with the same level of debt it had previously... not compounding new debt onto existing...

putting those two articles together then... the existing creditors look to have had to take a haircut... to cover the cost of the new creditors... but if you’re reading the schedule right... it’s not r$900m but around r$1,003m for a 30% cut...

at 4.14 forex... dip a+b $30m (r$124m)... dip c $85m (r$352m)... plus the r$818m secured creditors... and r$185m unsecured creditors... you noted from 2 rows earlier... total r$1,479m... rounded to r$1,500m...

i’m reading it that the r$1,500m ($362m) in that article is the jrp total debt value agreed with all creditors... new and old... future and past... includes dipa b and c... so is the value of all of the 4 rows you noted earlier...

link 12:19... it’s the after haircut value... reported value of the deal/settlements... but in real $’s... as the payment schedule i would think... not current value of future $’s... npv10 $’s...

does the r$1,003m ($242m) paid back as scheduled... correlate to a discounted NPV10 debt value of approximately US$106 million...

wysiwyg if you ask me ob... payments as scheduled...
the reported value agreed with creditors in the jrp... r$1,500m : $363m is done at a forex of 4.14 : 1... (which isn’t npv10)...

lol... ok... can you see r$1.5bn then... ;)

can you see $362m in those tables i can’t read...

you won’t turn me ob... ;)

i don’t think the bank union can execute their guarantees... almost certain they wouldn’t want to... if they did... they would have by now...

irrelevant if they force a bankruptcy... jrp settlements with indo and gerald would get shredded into the paper recycling bin... like the previous 2017 jrp... and being of the same class... the secured creditors (indo / gerald / bank union)... will all be fighting over what they can get... 1st from the stockpiles at the port... then from the stockpiles at the mine (probably won’t bother and write off)... and finally whatever is leftover in the mine asset itself (written off)... unsecured creditors won’t get a bean...
(found what i was looking for... but doesn’t cover part / final year production... and we never managed to get into zamin)...

thanks for reminding me ob... i never checked how much ore anglo produced in the part year... the year of the sale to zamin... to see how much more than the 4m tonnes there could be...
i believe all 3 secured creditors have claims over the ore stockpiles... and there’s not enough for them all... stockpiled at the port(s)...

this one gives the total value of the creditors settlement agreements... all classes... accounted for in the jrp... http://www.nasser.adv.br/uploads/nasser-brazilian-miner-agrees-1-5-billion-reais-restructuring-with-creditors-ll-latin-lawyer-2.pdf ...

4.5.2 isn’t 100% clear as to what influence gerald actually had over their settlement... or how much of it is a legacy agreement carried forward from the 2017 jrp... as it does state that it was a ‘court decision that determined the inclusion of gerald's credit in the general framework of creditors’... which were hoping happens again soon... with the remaining secured bank creditors union guarantees...

part of the settlement agreement with gerald... is that we won’t charge them for... ‘any past or future costs for the use of space where iron ore is or has been stored... until its full removal’... which i’m assuming is a significant number... that helped to seal the deal...