Assetco Share Discussion Threads

[rjmahan] 15/2/2020 23:45

Read assessment of IACEW too...

This has to be the most helpful board on ADVFN - quietest but most helpful.

[konradpuss] 15/2/2020 19:58

VT I think you might well be proved right. Lord Lee tells a great story of investing in a metal basket manufacturer 'shell' that became WPP. He sold out on the reverse take over!

Plan for an appeal.

[velocytongo] 15/2/2020 18:26

I still think Mills will back a business into this company and that the cash will ultimately be worth a lot. The market loves this type of thing and Mills is canny and he’s lost a lot of money on this investment.

But stock is hard to come by and it’s taken me two years to pick up 100,000 shares.

Vt

[konradpuss] 15/2/2020 16:22

zcaprd7 you could still buy in at this level. Hardly any stock trades mind. The outcome is very binary.

What troubles me is that even if the settlement is not knocked back or even reversed by the Court of Appeal, the controlling interests might not distribute and could buy another 'duffer' business.

There is a strong possibility in any case of the loser at the Court of Appeal appealing to the Supreme Court and getting heard - add another year of waiting if this happens.

You should read the original judgement and read the valuation posts of rjmahan before dipping your toe in.

[zcaprd7] 15/2/2020 01:55

It looks like I might have missed out on this...

[rjmahan] 25/1/2020 22:40

I cant see any of it - I read the judgement in full - to me it was very well argued.

It was long - but it had to be to be tightly argued and comprehensive of what was a complex case.

[konradpuss] 25/1/2020 16:15

The length of the judgement is a poor point in my opinion.

GT might still win back a few million however I just cannot see the whole judgement being overturned - famous last words!

[konradpuss] 23/1/2020 13:23

Rj, I think you will have to wait for the decision. It is usually very difficult to judge during the hearing.

I did not go in the end.

The decision should be out in around two months. This process is called the hand down. There is usually notice of this a few days before. They circulate the decision to all concerned before the hand down although is is not public until the day.

Sorry to say I think if GT lose they will try to appeal to the Supreme Court. That applies to the company as well!

It is however very difficult to get a case before the Supreme Court however in this case it would not surprise me.

[rjmahan] 23/1/2020 12:55

Any progress on this ? Its a big proportion of my portfolio so I am highly concerned.

[velocytongo] 21/1/2020 22:04

Still in the bar. These barristers know how to enjoy themselves!

[rjmahan] 21/1/2020 21:30

Any update on how this went?

[konradpuss] 21/1/2020 21:04

Velocy, I guess you much have got friendly with one of the barristers and you are still in one of the Fleet Street wine bars with him/her!

[velocytongo] 21/1/2020 08:43

We’re going today. Will keep you posted

[velocytongo] 21/1/2020 08:43

We’re going today. Will keep you posted

[konradpuss] 20/1/2020 22:03

Velocy, I was just about to post that!

If you are going, I would suggest the second day to hear the summing up of each side.

It might still run and run. Think the Supreme Court!

[velocytongo] 20/1/2020 19:18

22nd Feb is the next key date for an announcement.

[velocytongo] 20/1/2020 19:17

COURT 69
Before LORD JUSTICE DAVID RICHARDS
LORD JUSTICE PHILLIPS and
SIR STEPHEN RICHARDS
Tuesday, 21st January, 2020
At half-past 10
APPLICATION
A4/2019/0596(B) Assetco PLC -v- Grant Thornton UK LLP. Application of Defendant for permission to amend grounds and skeleton and PTA in respect of amended ground.
APPEAL
From The Queen's Bench Division
(Commercial)
FINAL DECISIONS
A4/2019/0596 AssetCo PLC -v- Grant Thornton UK LLP. Appeal of Defendant from the order of Bryan J, dated 22nd February 2019, filed 15th March 2019.

[velocytongo] 19/1/2020 10:06

many thanks

[konradpuss] 19/1/2020 09:39

The Court of Appeal site just gives a window of dates for the hearing together with an estimate time for the hearing.

The hearing will I am sure be at the Rolls Building.

I will keep an eye out for the dates, time and location.

[velocytongo] 19/1/2020 09:07

I’ll look out for you .. can’t imagine there will be too many people there .. have you managed to ascertain the date and place of the hearing ?

[konradpuss] 19/1/2020 08:40

Velocy, if you go, make friends with one of the solicitors. They might just give you a copy of the 'skeleton' or even on the last day a copy of the closing submissions.

You can only ask. I am going to try and be there on the last day. Do look for the puss!

[velocytongo] 18/1/2020 22:54

thanks. i just checked this week's listing at the high court and could not find anything on assetco vs gt. i've spent two days reading the judgement and intrigued to listen to the appeal and which points of law the case turns.
vt

[konradpuss] 18/1/2020 18:29

Velocy,I would not know how to post the original link as I am completely computer illiterate! My son would, however he is not around.

There will be a daily listing on the Court of Appeal web site page.This is the one to watch. Quite often you do not know if you are 'on' or who the three judges are until the day before.

The original listing just gave an approximate date and time allocation for the case.

Hope this helps and good luck with the purchase.

[velocytongo] 18/1/2020 18:11

konrad, just checked the listings at the court of appeal for this week and couldn't find anything for assetco vs grant thornton. can you post the link.
many thanks