I agree, any money owing probably would mean a further trip to court. I know we paid $205k and the judge hopes parties can agree interest on those payments. I am always wary of wealthy types going back to court to appeal and throwing the kitchen sink at it.
It would have been good if the judge recommended payment to be passed over within 30 days so we know exactly how much delay before revisiting. As liability has already been resolved we could just go through a County Court to get the payment settled. |
So ANS was a scam and Harry fell for it.If my memory is correct I was at the time of the opinion that this was the missing link and I assumed well researched by Kefi.It was virtually a letter from a Nigerian Prince.Bet we don't see the 200,000 now owed to us shareholders. |
 “To put a similar point in a different way, the Defendant was not buying Mr Demissie’s time for two years, it was buying the chance that Mr Demissie’s efforts would bring about financial close in respect of debt and/or equity and agreeing to pay him if they did within a two year period.”
On the contrary, in my view it represents a clear and workable balance of the parties’ respective interests starting from a context where there was a hope for financial close by October 2018 but all realised there was a considerable degree of uncertainty about that and so a long stop date would be sensible. In the balance of risk and reward, two years was agreed for such a date.
Counter claim
Mr Demissie was saying he wanted USD 100k because he was short of cash but expressly on the basis that it would be off-set from his commission “as before”. It is also clear that there would be no agreement from the Defendant’s side unless Mr Adams got board approval.
It is also fanciful for Mr Demissie to assert and maintain that the 205k Payments were not linked to the ANS agreements and/or the equity contributions to be made by ANS which would trigger substantial commission payments being owed to Mr Demissie.
However, for the reasons which are contained in this judgment, I do not find objectively his evidence merits much weight when balanced against the documents. In this respect, I consider Mr Demissie typical of many party witnesses in that any possibility of genuine and accurate recall gets swamped by the imperative of winning the litigation and the engagement in a process designed to achieve that end."
Well ae against kefi dismissed and counter claim approved on kefi side Judge actually seemed to have all hi marbles.
Shame it went to court obvious that Harry expected TK get over the line within the timeframe of the contract hence was happy to let him have some money that would be paid back in the case it did not happen in the expectation that it would get over the line and any money paid to him would be well worth it to help get a deal done. |
The Defendant counterclaims USD 205,000. |
Some extra cash in the bank now that KEFI have WON the court case!
...
The claim is dismissed and the counterclaim succeeds in the sums claimed. |
This judgment will be handed down by the Judge remotely by circulation to the parties’ representatives by email and release to The National Archives. The date and time for hand-down is deemed to be 10:30am on 20 January 2025. |
(Saudi mining) |
Not enough public info to work out for sure so I would be just guessing plus I am not any legal expert. About the only thing that is public is the timescale for the case overrun and it took years (add your own punchline).
About the only thing we do know is if kefi loses money would be paid out on TK launch and either way the market hates uncertainty so there is a plus on getting it out of the way. |
Dude with issues, it is microscopic gold you fwit |
If the soon to be moved residents are actually to be removed?
they would be pan handling the gold right now.
Ethiopia apparently an open market, so what is being dug out of tula K?
Oh, forgot, shovels not ordered yet? |
Rob
What are yours thoughts on the legal case. I Dom't know much about it. Do you think we will win ? |
https://youtu.be/2qa2NkthSHk?si=nmnIhb6oBk7jaqS-Just out on youtube today.Why gold is approaching a big re-rate.Follows up Live from the Vault confirmation of a gold re-rate based on closing December futures. |
(Saudi mining) |
Were Candy in the background? whilst more spuds released with monies?
AA is clever, millions achieved, when will he run? |
Candey ve AA, no surprise. |
Judgement scheduled for Monday. |
They went down to 15% to scrub historic debt. With recent funding if needed they can hold their round of 15% for a few months (even if it's spending $2 m a month guessing kefi could manage 15% of that through til summer |
"The Sukari mine is Egypt's first modern gold mine.
Egypt was known in the ancient world as being a source of gold, and one of the earliest available maps shows a gold mine at this location." you have gold prospects across the Arabian Nubian shield dating back to ancient times 1989 is like yesterday. |
Assy was from 1989. If so rich why not mined already?
More words/deals, no action. |
I know this doesn't apply to life-style companies like KEFI but FYI |
They are the definition of a forced seller, 100% so. They have no means of honouring the contract and are now in breach of the agreed terms (>15%). The saleable value of the asset (such as it is) drops daily, as every single avatar on here knows full well. |
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