Mediclinic Share Discussion Threads

[pwhite73] 21/6/2014 23:59

The CVA means the end of any court cases.

[jackthetrader] 21/6/2014 19:15

Any news of any court cases?

[geminian] 21/6/2014 18:57

Latest information I have received is, that proposed voluntary agreement was approved without modification at the Creditors and Members meeting on May 2nd.

Further information may follow in due course. I suppose the emphasis could be on the word *may*

Wait and see if any good comes out of this.


NB: didn't read above post thoroughly before posting so possibly irrelevant.

[neilrr] 14/5/2014 11:21

Yeah.

Right.

MDC's concern for shareholders has been the one constant throughout the company's history.

[noirua] 14/5/2014 11:00

The remnants of MDC, which delisted from the Alternative Investment Market (AIM) stock exchange and ceased trading in August last year, now have a single director, Mr John Botros.
The company has no real assets, but it has £11.5m in tax losses, plus the potential receipts from legal claims against two legal firms and possibly some of the former directors.
The meeting at which creditors must vote on the CVA has been scheduled for May 8. Mr Botros has offered players a deal where they would receive 1% of their losses with the money to be contributed by him personally. Payouts could increase to as much as 5% if proceeds are received from litigation.
Whatever the outcome for the players, the case of Purple Lounge provides a damning indictment of its regulator, the Malta Lotteries and Gaming Authority (LGA), and any regulatory system which fails to provide insolvency protection for player funds.

---

Reading these articles, I am not convinced that statements made are anymore than views as there appears to be no legal rulings made. MDC appear to be progressing to keep the company going for its shareholders whilst paying to creditors what they are able to.

[juicin drumroll] 13/5/2014 23:29

63 pages to read. The post quoted in 11991 is on 63.

[adh0] 13/5/2014 23:13

Do you have a link to that post please?

[goboygoboy] 13/5/2014 22:03

FROM THE CASINOMEISTER ONLINE GAMBLING FORUM TODAY:


Quote Originally Posted by jetset View Post

Another new development - looks as if the Players' Claim Group is prepared to go all the way with this issue:

"Full details have also been sent to the Serious Fraud Office (SFO) via legal counsel and we are awaiting a response from the SFO to let us know whether or not they are launching an investigation. During the course of events The Players Claim Group and others have uncovered facts around Media Corporation, Purple Lounge and former directors that have been passed to the SFO which are believed to indicate a much wider and deeper fraud."
They could make a movie out of all the twists and turns. I am glad that the Player's Claim Group is going all the way and am astounded at the level of work and effort that they have put in. They are an awesome group. I kinda had a feeling that the CVA was going to be voted in because the opposition had set it up that way. I am shocked that players votes weren't entered because after all they were deemed as creditors.
All throughout this sorry saga players haven't been considered. So I am hoping that the SFO takes an interest and does launch an investigation. These people should be held accountable.

Thanks Jetset for posting the update (I hadn't checked the updated information until a short time ago).

[noirua] 12/5/2014 08:50

Norseman Gold PLC have survived due to a meeting with creditors eventually reaching a deal - first meeting was cancelled as no one turned up. They do have a financial backer in Tulla, a lender of last resort.
Their quote in Australia despite suspension still delivers news anns via ASX and there is no limit of time as on AIM.

[lvlarky_13oy] 08/5/2014 15:40

Only it'll be half a BB that's archived as Justin and his cronies attempt to have posts deleted to cover up what really happened. Expect 11987 to vanish!

[geminian] 07/5/2014 17:23

Not sure about the BB not getting closed down. I had some Tadpole technology shares a while back and the share disappeared from the monitor and BB quite quickly after they went down but before news flow ended.

[applelover] 06/5/2014 11:28

JLF - How many shares do you have here?

[pwhite73] 06/5/2014 07:22

This BB will never be closed down all credit to ADVFN. Unlike other BB we need not mention here.

It might be that your broker never bought any shares in your name. I certainly received notification from my nominated broker. You need to contact him/her.

[applelover] 05/5/2014 23:34

I have never received any notification for either meeting. My broker is usually spot on with its communication.

Oh well. I wonder how long before this BB gets closed down

[roger-lawson] 05/5/2014 09:06

There was a meeting for creditors and members (ie. shareholders) on the 25th April (although I received no notice of it as I should have done being on the register),but it was adjourned until the 2nd May which I did receive notice of. The meeting was to agree a proposed Company Voluntary Arrangement (i.e. persuade creditors to accept some kind of deal). I don't know the outcome of the meeting.

John Baalham of Antony Batty & Co is handling the matter (they are insolvency practitioners).

[pwhite73] 05/5/2014 08:51

The company did inform its shareholders via their nominated brokers.

[applelover] 02/5/2014 08:44

That's exactly what will happen. We''ll get wiped out an the creditors will own the company and all assets remaining in it.

If a meeting did occur did the company have no duty to inform shareholders?

[stewart_25] 02/5/2014 07:30

and what was the arrangement? you can all go and get f*&*&^d?

[noirua] 01/5/2014 21:20

MDC held a meeting with its creditors and members on 25th April 2014 to propose a Company Voluntary Arrangement.