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Mr Cotter said he would circulate a costs table and assured it would be staggered. I still think my 1% of total investment suggestion was a fair way of raising a battle fund but wdik! The more that join, the less it will cost individuals, that’s why I believe if would be very encouraging to shareholders if our largest shareholders confirmed their participation.
Not sure people are trying to create confusion, think it’s just people being naturally cautious after being put through the wringer the last several years!
MC made it clear they are going after individuals or certain groups (anavio). Correct me if I’m wrong but to me, that indicates he is going after losses only, plus the fact that Summit have been awarded the assets in court with their credit bid so the assets are gone. If all that can be undone then happy days and that would be a cherry on the cake but not sure that’s even possible, maybe MC can clarify in his next zoom..
Just to be clear, am I correct in thinking Mr Cotter is going after our losses ONLY(likelihood 60%70% once his fees are taken)?
Any thoughts of getting our investments back in full or a piece of the billion barrel pie is not on the table?
Mr Cotter has devised a staggered costs table depending on shareholders investment (losses) which will be shared later this week.
I have previously suggested 1% of losses incurred would be a fair way of distributing the costs but will wait to see this table.
So for those who missed the zoom,not a lot of the case was discussed for obvious reasons.
It was more about introducing Mr Cotter, his background, the next stages, a few timelines and ultimately what costs are involved.
Fir those registered, you will receive a preforms end of this week or Monday and you will be expected to provide your personal details and confirm you are willing to pay a “joining fee”. This will be dependant on shareholding and will range from £300 to £550.
There will be no unexpected costs further down the line but if their is an “opportunity”, Mr Cotter will discuss any further costs involved. ( maybe at the next zoom, Mr Cotter can give an example of what this could look like).
Best of luck everyone in whatever you decide, I personally will be joining, I’ve come this far so another £300 is chicken feed.
@Stas
https://www.law.com/international-edition/2019/05/09/cms-sacks-partner-as-sra-steps-in/
Joel Barry - https://www.law.com/international-edition/2019/05/09/cms-sacks-partner-as-sra-steps-in/
Stas, you thought of auditioning for Braveheart 2?
Just a thought on these extra costs, would it be an idea to stagger the costs depending on investment made ie 10k - £100, 20k - £200 etc etc? 1% of your losses or something to that effect…