Thinking ahead i’m in too
Thinking ahead Only issue with the tapatalk format is the last post doesn’t appear first and you have to scroll through, 21 st century problems eh! Otherwise looks a decent enough site
Thinking ahead i’m in
Thinking ahead Me too
Thinking ahead Signed up this morning. WR
Speculation! Oopsi on LSE: “There is one thing that has been bugging me since the last RNS updating us on the legal proceedings and it is this line"The Grand Court also ordered that the injunction should remain in force until the next hearing, which is to be listed in January 2019.” On a literal reading this means that the injunction expires at the next hearing listed in January which is the 17th. There may be ambiguity in the RNS but it DOES NOT say next appeal hearing. That is a worry. Injunctions do not have to continue until the appeal. That is at the discretion of the judge at first instance. I think the 17th may have more significance for us than standard directions. I’m hoping that payment is made before then and this is why we are limited to standard directions and progressing the claim."
Thinking ahead Hey. When I applied it used my username from my QFI account. Maybe that is why
Thinking ahead bear Don’t be looking for a birthday present off ZAZA you have seen what his Christmas presents are like LOL.
Perfect Storm Further to the above post a quick google search revealed that on the 29th June last year trading was suspended in the stock of Defenx pending publication of its annual accounts. Trading did not recommence until 2nd October following late publication of the accounts and the securing of finance. This article on suspensions is also worth reading:[link] Note the statement that “Finally, when it comes to AIM, should the securities of any company be suspended for six months, the securities will be be cancelled from trading unless an extension has been granted.” I therefore think that provided a Nomad can be appointed promptly we could remain suspended until the outcome of the litigation is known. Tot
Thinking ahead Jan 17th is my birthday. Bad things will not happen.
Thinking ahead I have registered as gotreality FYI …
Nomad I am led to believe that FRR have approached 8 possible new Nomads. yes 8. All 8 will not take them on. enough said delisting very very close now.
Thinking ahead Cheers ToT am trying to learn fast. If I get stuck I’ll call for HELP! eyeson
Perfect Storm I think there is scope for a new Nomad to be appointed (thus avoiding delisting) but for trading in the shares to remain suspended, pending the outcome of litigation. Can’t highlight specific examples right now but I’ve been investing a long time and have been aware of suspensions lasting much longer than a month. In another thread I’ve posted a link to this webpage highlighting how proceedings are dealt with in the Cayman Courts: sc.Default)&firstPage=true&comp=pluk&bhcp=1" target="blank" rel="nofollow">[link] This extract should be digested in order to understand where we are in the process: "Notice to the defendant and defence A defendant to a claim is entitled to notice of the claim against it. Where proceedings are commenced by ordinary writ, the claimant must serve on any local defendant within four months of issue of the writ. Where the defendant is outside the Cayman Islands, the writ must be served within six months. The time for filing the defence depends on whether a statement of claim was served with the writ. If a statement of claim was served with the writ, the defendant must both: File an acknowledgment of service giving notice of its intention to defend the claim within 14 days of service (extended to at least 28 days if the defendant is served outside the Cayman Islands). File and serve a detailed defence (and any counterclaim) within 14 days of filing the acknowledgment of service. If a statement of claim is not served with the writ, the defendant must file an acknowledgement of service within 14 days of service of the writ (extended to at least 28 days if the defendant is served outside the Cayman Islands). The claimant must then serve a statement of claim within 14 days of service of the acknowledgement of service and the defendant must serve its defence (and any counterclaim) within 14 days of service of the statement of claim. All of the above time limits can be extended either by agreement between the parties or by way of court order. Subsequent stages The subsequent stages of a proceeding are as follows: The claimant has 14 days from service of the defence (and counterclaim) to file a reply to the defence (and a defence to any counterclaim). Disclosure must commence 14 days after the expiration of time for filing the last reply. After the close of pleadings, a case management conference will ordinarily be scheduled to give directions for the further conduct of the case and set the timetable for the remaining pre-trial procedures such as discovery (if it has not already occurred), exchange of witness statements, provision of expert evidence and scheduling the trial date. Depending on the complexity of the case, a number of case management conferences may need to be held. All subsequent deadlines can be extended by agreement between the parties or by way of court order. Interim remedies 10. What actions can a party bring for a case to be dismissed before a full trial? On what grounds must such a claim be brought? What is the applicable procedure? Strike out Parties can apply to strike out the whole or any part of the other party’s statement of claim or defence and seek judgment on the basis that the offending pleading: Discloses no reasonable cause of action or defence (and there is no chance of curing the defect). May prejudice, delay or embarrass the trial of the action. Is scandalous, frivolous or vexatious. Constitutes an abuse of process. Typically, little or no evidence is permitted in support of an application to strike out a pleading, as the document must be considered on the terms pleaded. Summary judgment Both claimants and defendants can apply for summary judgment, which is an expedited hearing of the dispute based on affidavit evidence only. The court will only grant summary judgment if it is satisfied, on the evidence presented to it, that the claim or the defence has no realistic prospect of success. The court will not grant summary judgment where there are disputes between the parties in relation to matters of law or fact that merit investigations at trial and are inappropriate for summary resolution on affidavit evidence." I think it is therefore possible that FRR apply for summary judgement or strike out at this hearing. Tot
Caymans Court Lists FWIW this webpage provides a very useful summary of litigation and enforcement procedures in the Cayman Courts:sc.Default)&firstPage=true&comp=pluk&bhcp=1" target="blank" rel="nofollow">[link] This extract seems particularly relevant here: "7. Are court proceedings confidential or public? If public, are the proceedings or any information kept confidential in certain circumstances? Proceedings before the Cayman Islands court are generally held either in open court or in the judge’s chambers. Proceedings in open court are open to the public, whereas proceedings in the judge’s chambers are generally considered to be private to the parties to the proceedings. However, the presiding judge can allow other interested parties, including members of the public, to attend a chambers hearing. In large commercial disputes the substantive trial is ordinarily held in open court. However, interlocutory matters are generally dealt with in the judge’s chambers. In insolvency proceedings, while the petition for the winding-up of the company must be heard in open court, interlocutory applications, either before the hearing of the winding-up petition or after the making of a winding-up order, are heard in the judge’s chambers. Unless otherwise ordered by the court, all originating proceedings filed with the court and all judgments and orders issued by the court are available for public inspection, on payment of a small fee. All other documents filed with the court are not available to the public and are ordinarily only available to the parties. However, the court rules provide for a process whereby non-parties to a proceeding can apply to the court to have access to some or the entire court file." Tot