Finablr Share Discussion Threads

[crowshott] 10/5/2020 14:28

It looks we all got ripped off and auditors were asleep on the job inc the advisers whom seems to pocketed all the fees. What was the role non-executive directors and the directors. I did not see anyone giving back any of funds rec'd over the past few years while so called trusted senior staff may have looted the companies? While the shareholders lost out big time.

[farrugia] 07/5/2020 07:36

you will not get a penny back from this lot.



'Last week, Finablr revealed that an investigation showed it may have debt of about $1.3bn, dwarfing the $334m it last publicly reported in August.'

[computercoders] 02/5/2020 09:26

Sorry Farrugio but the fact that you ask that question at the end shows your first sentence holds little water. How can you say it's a a lot of debt when relatively to turnover and profit etc it might be less than you think? Comparatively to this type of business is it that much debt and more to the point - is the debt level serviceable?

[farrugia] 01/5/2020 16:54

$1,300 million is a lot of debt, I seriously doubt there is any equity value left. Shetties and his pals devoured everything from the inside like worms. I got bitten here even though i exited at material losses before suspension.

what were the levels of debt in the last reported figure for the Group's indebtedness position as at 30 June 2019?

[computercoders] 30/4/2020 17:09

Looking positive to me. Bail out likely imo.

[shares188] 30/4/2020 16:03

Going in the right direction!!

[judgie] 30/4/2020 15:54

It is lower than expected however how much has been borrowed from NMC illegaly

[computercoders] 30/4/2020 15:36

RNS out debt lower than many expected. Might be recoverable

[zen12] 30/4/2020 14:08

It's a bit naive to dismiss him completely, may have some truth in it....running a multi billion dollar company requires one to trust his people to sustain it, very different to a lone PI investing!

[farrugia] 30/4/2020 10:29

he didn't know - yeah right...why haven't they locked him up yet!!????

[acv74] 30/4/2020 08:57

Yeah it reeks of BS to me. We're all been ripped off

[computercoders] 29/4/2020 23:32

I mean how would he prove someone else wrote cheques in his name, his bank accounts, his signature and why did he only just notice

[acv74] 29/4/2020 23:10

Shetty's statement seems like BS to me. Just a gut feel.

[computercoders] 29/4/2020 13:21

Yes new directors - why else would they put their name to this. Prepack administration is very easy so why not do that straight away if going that direction. I also agree it's probably my going to be relisted.

[shares188] 29/4/2020 13:02

Well they have appointed new directors so that's a positive,
It all depends on what they're being advised and if it's
Viable, I still think 65% it's coming back..

[computercoders] 29/4/2020 11:56

Shetty said "I intend to work tirelessly to clear my name and assist any authorities in getting to the truth and help them ensure that misappropriated or missing funds are returned by the perpetrators to their rightful owners."Hopefully this includes shareholders.

[unclechris] 29/4/2020 09:21

To be honest,I'm am totally confused,does this mean any money held in these in my SIPP is now completely lost,or is there a chance of recovering some back.
My account is showing approximately £2000 at 11p.
I know I should have sold them , but what is the situation now.
Honest answers please.
Chris

[computercoders] 29/4/2020 08:55

I agree it seems too big to let fail. So bail out is my guess.

[shares188] 28/4/2020 20:28

If they delisted it was either because they
requested it or didn't meet the regulators
requirements ,which I believe is needed to
be met monthly or there abouts
I still think there is a good chance of this
trading again.

[computercoders] 28/4/2020 12:00

Zen how did NMC manage to delist after just 2 months?