Cloudified Share Discussion Threads

[andy] 30/4/2019 21:10

cool,


Yes sadly so.


The only positive is it gives an early closure, rather than dragging on with more false hope.

[fordprefect79] 30/4/2019 20:11

While I’m sad to have lost money, my portfolio overall is beating the FTSE 100 and I expect some losses. I’m really sad for the employees and the board who have put blood, sweat and tears into their company over several years, many of whom were paid in shared that are now worthless. Losing money sucks, but losing years of your life is a whole lot worse.

[neo26] 30/4/2019 19:47

Lights are indeed off

[wedgie74] 30/4/2019 15:35

Rns today buddy, time to turn off the lights

[lithological heterogeneities] 30/4/2019 15:26

08 Apr 19 RNS

"The Company's solicitors Clifford Chance are currently reviewing the Annulment Committee's decision and the Company will provide an update on this review within the next 7 days."

7 days.
Have i missed it?

[nico115] 30/4/2019 08:57

U don't say !!

[cool hand kev] 30/4/2019 08:54

Well that's another account I can close :-) and save those quarterly iii charges

[nico115] 30/4/2019 08:52

Where's Stephen ? He promised us it wasn't over !!Maybe he has another theory?

[tony_currie] 30/4/2019 08:32

So long, farewell, auf Wiedersehen, Adieu.

[valtos] 30/4/2019 07:57

Guys = years!

[valtos] 30/4/2019 07:57

Oh well guys. Nice chat over the guys! We were robbed and that’s it. Good luck to all in the future. Bye bye 👋

[andy] 30/4/2019 07:48

neo,


The pertinent bit there is "even if it were minded to do so".


In otherwords, it clearly isn't....

[neo26] 30/4/2019 07:46

"....As Churchill now has only minimal remaining resources, the Company is currently not in a position to continue any form of litigation, even if it were minded to do so. "

[andy] 30/4/2019 07:46

neo,


Indeed, but at least it isn't dragging on for years and people have closure now.

[neo26] 30/4/2019 07:41

So that is that then, a sad day for us chl holders.

[andy] 30/4/2019 07:37

The website will soon be shut down, so we will have no further source of information, so it looks like lights out soon I'm afraid.


THe one consolation we have is that with PALA as the secured creditor, there will be no cash to pay the ROI.

[andy] 30/4/2019 07:34

News out guys, and it's not good, as I feared in fact:


Initial legal analysis following the dismissal of the Company's annulment application at ICSID suggests that there is now very little scope to bring further proceedings against the Republic of Indonesia in the ICSID forum.


As Churchill now has only minimal remaining resources, the Company is currently not in a position to continue any form of litigation, even if it were minded to do so.


The Company's principal secured creditor is Pala Investments which is owed GBP500,000 plus interest and the Company's principal unsecured creditor is the Republic of Indonesia which is owed some US$9.5 milion in respect of costs awarded in relation to the ICSID proceedings.


There is little prospect of anything other than a very small (if any) return to creditors so at the present time we would advise shareholders that they should not expect any return on their investment.


For further information, please contact:
Phillip Sykes
Joint Administrator
RSM Restructuring Advisory LLP
25 Farringdon Street, London, EC4A 4AB

[nico115] 30/4/2019 07:28

Jamesss you are the most boring here !!We all had a "punt"Seemed a good one at the time We all lost Move on mate Stephen will never admit he got this 100pct wrong,so many made up theories which even a schoolkid wouldn't have ..stephen was ramping to sell his placing stock and Jamess fell for it

[jamie414] 30/4/2019 00:03

COME BACK EXPERT LEGAL ADVISOR!WE NEED YOUR HOPE AND GREAT OPINION! FACETIMED DQ THIS WEEK?

[jamie414] 29/4/2019 23:52

Jamesss1 and Stephen both dress as school girls for DQ.They got paid in extra CHL shares lol

[wulber] 26/4/2019 17:08

Interesting!Send to DQ SOS100

[sos100] 26/4/2019 15:13

not sure if this has been posted but maybe something to keep an eye on..



"As Singapore announces it is considering allowing appeals of arbitration awards on a point of law, Kohe Hasan and Justine Barthe-Dejean, partner and associate at Reed Smith (in alliance with Resource Law) in Singapore consider whether such a reform would be a move in the right direction. "