Sefton Resources – Dan files 1200 page rebuttal at High Court. Tick Tock.

Share On Facebook
share on Linkedin
Print

My own defence against the spurious libel claims made against me by joke oil company Sefton Resources (LSE:SER) went in weeks ago. But today I have the good news that Brokerman Dan has filed his defence. It forms only part of his argument but already runs to 1200 pages of documents which poses an interesting question for Sefton, as Dan promises me that he has far more to come.

© Mike Hodges

Uber-expensive City lawyers Pinsent Masons will now have to read every single page of Daniel’s submission. And its charge out rates are, I believe £500-750 an hour. Having read it all in detail missing nothing out it then has to submit its own response. How much do you think this is going to cost Sefton?

I remind you that at historic cashburn rates Sefton has only about three month’s cash left. But those legal bills must be mounting. Tick. Tock. Tick. Tock.

PS. Sefton has yet to respond to me after two weeks to say how many, if any, flights it has paid for to and from Hawaii where its chairman Jim Ellerton lives in a multi million dollar mansion. Come on chaps, surely you are not embarrassed by the answer are you?

Tom Winnifrith writes for 10 US & UK websites. You can follow his opinionated thoughts on twitter @tomwinnifrith or by links on his main website www.TomWinnifrith.com

You can show your support for free speech and investigative journalism by buying a “Justice 4 the Sefton 2” T-shirt, mug or hoodie HERE

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Comments

  1. Danny says:

    My estimate is that Sefton would pay $25,000 to Pinsent Masons lawyers just to read through 1200 pages. Sefton recently did a placing to the value of $1m, however it is clear half of that will be wasted on the court case. Taking the terrible two to court is just plain ridiculous and an insult to Sefton shareholders.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20230128 02:38:59