Member Info for WolfofWarks

Hexam - agreed. I have tried to cut him off twice already but when I see him wilfully trying to mislead folk I’m not the kind of person that can sit back and keep my mouth shut.

‘ Lots of court approvals and appeals to desicisions suggest the court plays more than a supervisory role...;-)’

Jeff - I must say you seem completely fixated on this. The role of the courts is supervisory. Yes they rubber stamp various parts as try are making sure the process is being followed. Ultimately though it is the creditors who will vote and give final approval on this not the judge.

Hexam - can you believe this guy reckons he’s an accountant? He doesn’t seem to understand the very simple stuff but then goes to town on bits that are misconstrued or largely irrelevant. He was furious the other day when I mentioned that Cine would haven accrued any interest payable that hadn’t been paid.

I wouldn’t bother engaging with him Hexam.

I think he’s on a massive wind up at times.

After yesterdays slip up he night even be one of these multi account posters.

The market is in a very strange place at the minute. The news is full of misery yet we have pretty full employment. Recruitment is a real struggle now I’ve been trying to fill a place since august and the salary expections for starter finance roles are ludicrous.

If interest rates start to settle, inflations starts to calm and China starts moving there could be a significant move to the upside in 2023.

I think depending on where you sit on the efficient market hypothesis a recession and the future gloom is most likely priced in at this point. It’s just about picking up those companies that are solid business that have been oversold and have the potential to rise fastest.

I’m talking from a proper investing sense though, not trading.

Antlev - you’re looking at it through charts where most professional investors will be looking at fundamentals.

That's a bit rich Jeff ...

Jeff - even if I pointed you to the correct place five times over you still wouldn’t believe me :)

This isn’t GM. There isn’t an unsecured creditors pot. Unsecured creditors are unlikely to get anything here.

You’re leading folk up the garden path and it’s not right. Downright dishonest.

Elvis - from what money would the shareholders be paid out for your little scheme?

Why would the transaction need clearing by HMRC? Cineworld operates in multiple jurisdictions and the corporate structure is split into multiple subsidiaries tax resident in multiple countries, the lions share of the losses will actually be in the USA I would have thought as that is where the bulk of the business is.

You have also failed to acknowledge the senior lenders who are the ones who actually have the voting power, first lien, etc.

I’ve got the popcorn out for this

The DIP own the rest of the loans as well Jeff as the DIP is additional borrowing.. They set up the DIP finance to get to the top of the queue. I think Hexam mentioned the other day that the debt is about $6bn at the moment,

Mooky pulling $5bn out of the bag.

It seems to me there is always an oddball g imp on the forum.

First it was fig tree harry, then Magmanus and now we have Elvis.

It’s like they are coming off some production line. One leaves and another one appears. Investment forum whack-a-mole.

Elvis - the company is in special measures. I’m not sure a lot of the rules or procedures you keep banging on about apply during a bankruptcy. I believe the ongoing work with the takeover panel for instance will be to relax the usual rules so the company can be taken over by the creditors when the D4E is finalised.

Tax advice is usually taken on any major decision so I’m not too sure you should be reading too much into it.

That’s highly unlikely Jeff.

Dodgy as f eck ….

Tbf that’s probably a massive over simplification.

Jeff I’m not sure what you want to know or if I even know the answer. I’ve pointed you to several links every time you’re probing me but then you come back asking the same questions over and over.

As far as I understand it:

1) the judges role is supervisory - he makes sure all creditors have their claims heard, sets deadlines, etc, etc.
2) Mooky will put together a plan in which all willing participants can register their interest. We believe the deadline for this could be around 15th December.
3) I assume the interested parties will then have to put together bids, terms, etc.
4) the plan is then put to a creditor vote. Each class of creditor then vote. Although the reality is it will be the DIP who will decide the outcome by them having the largest secured amount and also first lien.

Does the company need to respond though? There is a process being carried out which is subject to newspaper rumours and gossip.

They’ll let you know once the outcome has been decided.