Worldspd Share Discussion Threads

[the count] 23/3/2012 17:56

--->MIKEJAH

I hope to also do that and was making that very suggestion myself to friends privately.

Regards,

THE COUNT!

[m.t.glass] 23/3/2012 17:30

2:36pm today:

Further to the announcement on 19 March 2012 regarding the appointment of joint special administrators to Worldspreads Limited, the Company's principal trading subsidiary, and the directors of Worldspreads having invited the secured lender to appoint a receiver, the Company's secured lender has appointed a receiver to the assets and undertaking of the Company (the "Receiver").
It is not anticipated that there will be any return to the Company's shareholders following the appointment of the Receiver.

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4:52pm today:

Further to the announcement on 23 March 2012 regarding the appointment of a receiver to Worldspreads, Collins Stewart's engagement as Nominated Adviser and Broker to WorldSpreads was terminated with immediate effect.
Pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month, the Exchange may cancel the admission of the Company's securities. Accordingly the potential cancellation time and date is 7.00am on 23 April 2012.

[m.t.glass] 23/3/2012 17:28

Here's how to do that

[mikejah] 23/3/2012 16:27

I suggest people contact their MPs,some take an interest in their voter's problems

[mikejah] 23/3/2012 16:25

Sc,you are joking about this country being run by law,I presume

[gskb] 23/3/2012 16:24

Like the Irish Times article.

However, I'd be amazed if KPMG were to throw any SH 1 T Ernst & Youngs way.
After all, they're drinking buddies, aren't they? and it highlights part of the problem we have at the moment. imo

[taximania] 23/3/2012 14:34

hywel -m yes 100% definate

[joe moon] 23/3/2012 12:48

watch part 2 re MFG @13 mins

there is no law for these types

or celeb chefs nicking cheeese from tesco (error of judgement)

but if you need to steal food to live..you get prison


string these lot up when i start the revolution i will!

[joe moon] 23/3/2012 12:46

In this episode, Max Keiser and co-host, Stacy Herbert, discuss the great 'unbanked' masses dumping gold believing in a 'recovering economy' and an end to money printing while banks and insiders buy gold and mortgage backed securities in preparation for more quantitative easing by the Fed. In the second half of the show Max talks to Mark Melin of Uncorrelated Investments about MF Global, JP Morgan and the future of the futures market. They also discuss the Charles Manson's of the futures industry and the branch office of the too big too fail banks formerly known as the SEC.

[hywel] 23/3/2012 11:19

So is it definite that all open positions with Fraudspreads were closed at the end of day last Friday? I'd like to know for sure before i go buying back the same stocks with other SB companies.
TIA.

[oldtown] 23/3/2012 10:16

Simon i believe it's perfectly normal to seek a Sequestration (freezing) of assets if those assets are potentially included in the subject of litigation or recovery of amounts gained from alleged criminal activity.

[tim 3] 23/3/2012 10:09

Good piece that Irish times article.

[simon cawkwell] 23/3/2012 10:09

oldtown,

Contrary to the wishes of some posters on this thread, this country is still run by law (or sometimes it is). Sequestration would surely only be just if the fellow whose assets are to be sequestrated is shown before the event to have nicked the money. This has not happened yet.

Simon Cawkwell

[oldtown] 23/3/2012 10:06

Sequestration would be ideal then Simon.
A court order authorizing the seizure of personal property, or other income from real property,to be kept in safety under court supervision pending the outcome of litigation between the parties.

[simon cawkwell] 23/3/2012 10:02

Gentlemen,

Please bear in mind that civil actions for recovery of stolen assets could be seriously inhibited by criminal prosecutions. Do not ask me why. This is a lawyer thing.

It would on this basis be wiser to go for the loot first even though I grant you that there is little likelihood of any significant recoveries.

Simon Cawkwell

[oldtown] 23/3/2012 10:02

Why doesn't the action group throw a few quid together and seek a sequestration order against the bod.

[tim 3] 23/3/2012 01:23

Nasdaq_Investor - 22 Mar'12 - 22:13 - 446 of 446

Spot on.

£13m is missing from a relativley small company yet I hear no news of directors/key staff being questioned by police which gives them time to come up with a story.

I used to work in retail and £10k once went missing,all staff with access to that money were interviewed within 24 hours.

[nasdaq_investor] 22/3/2012 22:13

Best wishes, to all clients at this difficult time. The perpetrators may feel they will got away with it in this life. They should worry deeply, however, about the next life ...karma.

The police should have been called immediately and all directors and key accounts staff called in for questioning in my view. Somebody might have spat out the truth.

13m plus is missing yet the directors are, afaik, still at large and Ernst and Young are predictably saying no comment! If someone took a packet of crisps in the supermarket then watch the police kick into action.

Here it's wait and see, no early answers and no indication of any police questioning of witnesses /potential perpetrators. Shocking! At some stage if this corruption continues and innocent victims keep getting their lives ruined it will kill capitalism.

Two key questions.

1) Will losses from the sold hedged stock be deducted from the closed cash position as per the weekend closing figure.

2) Will retail clients rank higher as creditors than those classed as professional investors? Administrator was non-committall.

[the ballcock] 22/3/2012 20:49

i hope steveglobal is ok, haven't seen him in a while, talk about the wife leaving him and stuff. hope no one is down over this

[mountpleasant] 22/3/2012 20:45

I still dont know what happened here...

Am I being naive here, or did the CEO and CFO find out about about something internally, realise the scale of it, and resign just prior to the news, to save a bit of face? Do we really know what went down, other than a bit of trying make good a few bit gambles that were not hedged out?