|Orchid Developments Group
||EPS - Basic
||Market Cap (m)
|Real Estate Investment & Services
Orchid Developments Share Discussion Threads
Showing 10351 to 10367 of 10375 messages
and BBC article
"Four men have already appeared in court charged with fraudulent activity following the investigation into the sale of Rangers.
David Grier, 53, Paul Clark, 50, and David Whitehouse, 49, worked for Duff and Phelps - Rangers' administrators."
if my memory is correct were Duff and Phelps the administrators for OCH ?
were the same people involved ?!
if Duff & Phelps are being processed by court system for their part in Rangers....should their role in Orchid administration also be checked to see that nothing illegal there ??|
|Avoid all share son AIM more like!|
interesting to see that at MET the new bod took the previous bod and advisors to court, in the IoM
and won !
receiving almost 3M pnds !
1) imo avoid all companies listed in IoM...and Cayman Islands etc etc
(since much harder and more expensive for UK PIs to try to get the law enforced on the bod....and UK regulations/law will generally not apply, of course
and some dirs. will intentionally register the company there for that reason !!)
2) distrust all directors
....and then only put companies and directors onto an 'OK list' after inspecting 5 years of past accounts and all RNSs....to check that dirs. have acted with integrity....and not 1 example of acting for excessive self benefit
(the OCH dirs. awarding themselves a bonus for 2009 when imo no bonus was due, since no actual profit was in fact made, should have acted as a DONT TOUCH signal to all PIs)
(by avoiding company shares with doubtful or dubious directors or bods then ones overall portfolio performance over time can be improved imo
in last year or two could have avoided large % losses from
- Mobile Streams
|Smith. I paid into the action group but have heard nothing since last summer.
Looks like they have thrown in the towel|
how much did the liquidators charge ?
(are they one of the biggest winners ?!!)|
|"accepting the offer from Bellport"
so they thought it was worth having
1) Was the action group 'active' ?
eg. did they approach possible buyers ?
did they lodge a request with the court to cancel the 2009 dirs. bonus payment as false/illegal ?
2) Why did the action group act so secretly and not post any updates on this message board (the most popular one for UK investors in OCH) ?
3) What did the dirs. buy and how much did they pay ?
4) No interest in lodging allegations vs the dirs. for illegal conduct ?
...conducting the co. for their own benefit and not for shareholders, as reqd. by the law ?
Repeated reminder to myself
- avoid any company involved with Shore Capital
- avoid any company where the dirs. are overpaid
- avoid any IPO where the issuing broker is selling in the IPO ! (Shore cap.)
- that London markets are a bit like roulette !.....honesty and integrity of dirs. ...often is lacking.|
|Not really Neilyb675 as it is a hard copy sent in post by Zolfo Cooper(and about 20 pages long). For anyone receiving the document, the relevant "you ain't getting nought" paragraph is at bottom of page 10 and says:
"Given the level of realisations from the liquidation estate, there are insufficient funds available to declare a distribution to shareholders."|
can you post up a link to it or copy and paste the relevant paras, thanks.|
|Have today received the final report from Zolfo Cooper (Liquidators). Unless I am reading it wrong, after realising asset values, accepting the offer from Bellport, and paying off creditors, shareholders will get nothing at all. So that's our investment gone up in smoke I'm afraid. Well and truly stitched up!|
|Here are contact details for the London administrator.
Is anyone willing to pick up the phone and make a call ?
(they have not replied to an e-mail enquiry asking for some basic info)
Imo shareholders have a basic right to be given occasional basic summary information about what is happening to the company while in administration
either via an RNS (which never happens, I assume since no longer paying to AIM market)
or from the administrator
(I understand there are 2, the other one being in Bulgaria
noting they are acting under orders from the High Court in Cayman Islands...
which uses laws based on UK law...and the UK Company Act )
Zolfo Cooper | 10 Fleet Place, London EC4M 7RB
t: +44 (0)20 7332 5128 | f: +44(0)20 7332 5001
I note that an administrator will try to save the on-going business if he can...and the jobs involved in it....or a reduced part of it.
I think there is an administration stage...before a liquidation stage might happen. In administration stage, I think the company is protected from creditors while the administrator tries to save any saveable parts of the business.
In some cases a company can come back to normal operation from administration....however for OCH it has large bank loans....
so, whatever happens will I assume depend on whether those banks want all their money back now, if loan conditions have been broken, or can delay...
and whether anything can be sold...to provide cash to the bank...and whether any such sales can be at higher amount than the corresponding loans.
According to the accounts, some parts of the co. have no loans on them....and are assets for the shareholders....
however, if so, the dirs. debt would have to be paid from that first....
I understand they were claiming around 3.6ME...and now about .6ME higher if still employed. 4.2ME|
|I submitted my holding but never received any.info from bumpkin ?
There must be some progress since that winding up dismissal 21.12.12.|
|btw an e-mail was sent to the co-ordinator 2 weeks ago...no reply so far
Im surprised that the AG doesnt post a status report every say 3-6 months on here just to inform the rest of the world.
|I have not had any update for over 5 months. No reply to email's! !
A bit disappointed in action group to be honest.
Was told to submit holding details etc but no updates given|
|the pumped the company up and it came back to bite them (the NAV that was boasted about).......means their own 2% liability is tiny compared to others. That winding up dismissal is dated 21/12/12 - so whats happened in the year since then >>>>>>>>>>>>>>>>>???|
well if you are part of the Action Group....can you not tell us what the news is ??!...(what the legal rep. of the Action grp. has told to the action group ?)
if you have paid something to the action group then surely they are informing you already no ?
but they might not want you to tell the world, since not contributed....
(I didnt contribute money since I didnt know or understand who I was paying and what the rules were for how the money would be used and who could charge costs to that money.....and I had spent many hours of my time trying to motivate action, which worked, so I felt I had put in a lot already...)|