Frontera Share Discussion Threads

[xc1] 17/3/2019 11:16

The bottom line is, it wont relist.The company have successfully got rid of the weight around their neck....shareholders.

[thefozzer] 17/3/2019 11:04

Good Morning Kaz,

Thank you for your feedback and thoughts on the recent court document, all good stuff from you.

I have to point out Judge K's most recent conclusion on the situation whereby he clearly suggests that he was not in possession of the full story during his first judgment. He goes on to state that FRR now have a realistic chance of success at appeal. Quite an about face would you not agree? Judge K's words are deliberate and very clear, there's no way you can misinterpret them is there?

All this is really a side story though, all boils down to whether FRR can get a loan to clear the OMF debt and fund the T field thereby keeping the Geo Gov sweet. What are my thoughts on the loan? Wait and see.

Whatever we both think, the situation has drastically improved compared to that fateful Christmas EVE day.

Have a nice day.

[mick1909] 17/3/2019 08:50

How noble of you to spend your time educating everyone on a share you have no financial ties with ???

[sweet karolina2] 17/3/2019 00:56

The exact reasons why FRR will lose the fiduciary duty case are at para 13 which reproduces the 21 Dec ruling, which is in no way changed or modified by anything in the rest of the Feb judgment.


"35. The only coherent allegation advanced by the Plaintiffs is the broad complaint that Mr Hope has blocked the Company's legitimate attempts to raise debt financing with a view to he and Outrider benefiting from a default by FIC and taking control of its assets. This requires the Plaintiffs to establish that the proposed debt financing ought to have been approved instead of some form of restructuring. The Plaintiffs also have to PROVE that the Mr Hope in contending that a restructuring was a better option having regard to the interests of creditors was motivated not by the interests of the Group's creditors, with which interests Outrider's were arguably aligned. The Plaintiffs have to PROVE that, instead, Mr Hope and Outrider were to a material extent motivated by the desire to earn restructuring fees. At this stage, based in part on FRC's own accounts and its admitted liquidity problems, it appears strongly arguable that FRC is INSOLVENT and that the directors' primary regard ought to have been to the best interests of creditors. This lends more credence to the propriety of Mr Hope's general stance in opposing more debt financing and calling for decisive action than it does to the majority directors' position that debt financing was the obviously appropriate business judgment to make."

Read it and weep lout.

[sweet karolina2] 16/3/2019 21:42

Fozz,

The judge robustly found FRR had no case against Hope for breach of fiduciary duties. This is explained at various places in the doc if you read them.

Eg. para 4b

"The plaintiffs' case based on the evidence available at this stage has no real prospect of success and / or fails to raise a serious question to be tried.

Also read para 13 reprint of para 35 - very supportive of how Hope has conducted himself as a director and damning of the other directors.

However that case is not being tried here. If FRR actually appeal (they had not when the doc was written) the appeal court might decide the judge was right to discharge the injunction or it might decide to let the farce continue to trial of the fiduciary duty case, which has no realistic chance of success, but FRR can waste more money on it if FRR wants.

Read the whole doc properly and objectively rather than latching on to things that appear to give hope and then misinterpreting them, whilst ignoring the very clear messages in there.

[lightstep] 16/3/2019 20:52

Bless.

People so stupid they invest in frauds can't read properly.


Loools. just lols

[thefozzer] 16/3/2019 18:21

Good evening Kaz,

I'm sorry but you have not posted the full text. The judge says

"I saw no inconsistency between my robustly finding the plaintiffs (FRR) substantive breach of fiduciary claim had no realistic prospects of success, ON THE ONE HAND, AND ON THE OTHER HAND accepting that the plantiffs (FRR) core applellate complaint that IT WAS NOT PROPERLY OPEN TO ME TO REACH THAT CONCLUSION AT THE INTERLOCUTORY STAGE, had realistic prospects of success before the court of appeal.

The judge is admitting "not properly open to me"
that he did not have all the facts during his first judgement.

FRR are still in the fight by my reading of the court documents.

[sweet karolina2] 16/3/2019 18:09

Very good question Fozz as I am sure trading whilst insolvent is just as illegal under Cayman company law as it is under UK law.

[thefozzer] 16/3/2019 18:05

A perhaps overlooked question for investors and interested parties should be, how have FRR been funding the business for the past 6 months?

[sweet karolina2] 16/3/2019 18:02

Fozz,

I have posted it so many times but once again from the conclusion para 54:

"my robustly finding plaintiffs' [FRR] substantive breach of fiduciary claim had no realistic prospect of success"

Also read para 4

[thefozzer] 16/3/2019 17:51

Hi Kaz,

Thank you for your feedback and thoughts, all good stuff from you.

To highlight the most important part of your post.

"The appeal if successful, would keep the injunction in place until settlement of the fiduciary duty case, which the judge makes crystal clear FRR have no chance of winning"


I'm sorry Kaz but where does Judge K state FRR have no chance of winning the fiduciary duty case? Could you post the quote from the document for me? A big chunk of the court doc is the judge slagging off Hope's legal counsel and commenting on the "bionic" nature of Hopes debt. The Judge concludes stating that FRR have "realistic chances of success" at the appeal court and the judge admits that he did not have all the facts during the first hearing when he stated FRR "had no realistic chances of success".

We have leaned from the court document that FRR are now, perhaps unsurprisingly, in discussions with Hope regarding settlement.

Something I picked up on was the inference that perhaps FRR could attempt to get the loan passed through under the supervision of the Cayman court.


More twists and turns to come here.

[lightstep] 16/3/2019 15:17

I told franny and liar that they were misreading the court docs.


Who have thunk old Light new what he was talking about.



Looooooools, just loooooools.