Member Info for WolfofWarks

Waffen - haven’t been unkind to anyone. In fact I’ve gone to great lengths to explain this process and the likely outcome.

The unkindness has always come from those who don’t like what I have to say. I’ll defend my right to say it on a bulletin board though.

Waffen - by the time you get those official accounts CW will be a private company tucked away in the Cayman Islands somewhere.

The key is to verse you self on forming a reasonable opinion based on partial information and/or what’s going on within the industry.

Be the hare not the tortoise.

The iis all bailed out once the c11 started coming on the horizon.

I think the Chinese guys were the largest.

Stanley - there’s more than just interest to come off gross profit to get to net profit. Assuming that’s what you are trying to do.

‘ Wolf, rubber stamped? We don’t if know what has been agreed. I’m not saying you are wrong and I’m not saying I’m wrong. Let the decision be given before we breakout the champagne.’

We do know what has been agreed. It’s in the fine print in the dockets. The plan has been put together with the most powerful creditors who have the majority vote by a mile to put it through.

Poor - it’s not speculation there’s a filed plan in the court dockets that has been agreed with all the creditors just waiting to be rubber stamped.

Poor - I only posted at the start of C11.

I’m not saving anyone, I joined after the carnage has already happened.

Poor they’re literally a plan that’s been put together with the lenders to give them a 100% stake in newco. Those same creditors have complete control over the voting rights.

It’s certainly not a 50/50 and if the judge did want something written in that’s gives something to the shareholders there’s the unsecured creditors who have also been shafted and are ahead of shareholders in the pecking order.

I suspect at this point the whole thing is now a formality.

Hi Ian - those %’s are used to demonstrate the control that the lenders have over the voting process for the plan approval.

Hi mountainous - there is no evidence of this. They have loans further up their family trust structure where their cineworld holding was/is being used as collateral.

Sandgrove do/did hold a short position although my guess was this could be a partial hedge against the loan above.

It was confirmed at the outset of c11 that the family still held their 20% and I wouldn’t have thought they would have been able to transact with it during this process.

The problem with that limp launch is that it cost them an absolute fortune. Such a shame this had such good potential as well.

'simples'

Indeed.

No

Tegop - Here is an interesting bit of information for you. I started looking at a few bits earlier in relation to the question Elvis posed me last night and I stumbled across the Lehman Bros C11 from the banking crises which was only finalised last month - twelve years on!

Obviously that's extreme but interesting nonetheless.

The true cost of this case has been bourn by decent long term holders like HNS so I hope you use whatever your talent is, recover your losses and prosper much better next time.

Hi Hexam - completely agree with everything you have said there. You can tell who the investors are that know what they are doing. For example HNS who said enough is enough, took it on the chin and moved on.

The sad thing is if people took the time to educate themselves a bit on the financials and the process rather than walking in blindly and stubbornly holding onto their view of the situation. I'm still amazed that some posters didn't realise this was a bankruptcy, didn't realise CW wasn't making a profit, believed the company was worth $6bn plus, etc, etc.

The even sadder part is some are not learning the lessons here and will be doomed to repeat them again and again.

The language started off 'there is no guarantee of a recovery for equity interests' and got progressively worse at each RNS to the point we are at today where the plan is all agreed and ready to go and zero recovery confirmed.

You don't need to look at C11's in particular, look at bankruptcies in general, C11 is just a form. They happen every day.

There might well be a point the share gets suspended if it hits some kind of criteria- I don't know the FCA rules particularly well. The point I was making is that the US court cannot decide this.

Tegop - how does this work? The court doesn't have any jurisdiction over the London Stock Exchange.

Unless they hit some criteria that requires the stock to be suspensed, perhaps when the plan is confirmed, I would have thought this will keep trading.

Yep it's proper boring and adds nothing to the discussion.