Petrel Resources Share Discussion Threads

[walterwhite1] 02/6/2022 09:29

No sorry Lippe you'll have to explain that one to me! I'm aware of the Tamraz link of course

[lippe] 01/6/2022 07:17

Dave's friends...

[lippe_mk2] 31/5/2022 23:19

#can-you-see-what-it-is-yet?

[lippe_mk2] 31/5/2022 23:18

Vigo Krastiņš, insolvency administrator of PNB Banka, has reached a favourable judgment in the London International Arbitration Court in an action against the bank's shareholders Tamraz, Fayad, Baaklini, Hombres and Mgalobvičili for a total amount of more than EUR 54.7 million. Currently, legal proceedings in other countries are continuing in order to achieve real enforcement of the court judgment and recovery of money in favour of PNB banka's creditors, Krastiņš informs.

"This claim was one of the largest monetary requirements of PNB, which also provided for complex litigation, so we are pleased that the first positive step in the money recovery process for the benefit of creditors has been achieved. However, in order to actually recover this amount, legal proceedings in other countries will now continue in order to enforce the judgment and the actual recovery of money from the bank's shareholders," krastiņš explains.

According to the insolvency administrator, 'the action against the bank's shareholders arose when, in the summer of 2019, the previous majority shareholder of the bank, Grigory Gusselnikov, together with his family members, sold the majority of the bank's shares held by them to several investors: Michael Fayad, George Mgaloblichvili, Marc d'Hombres, Antoine Baaklini and Roger Tamraz'.

"At the same time as the sale of shares, assignment agreements were concluded, which provided for the transfer of several of the bank's claim rights against its debtors to those new shareholders. However, if previously this right to claim was secured by pledges, after the assignment agreements were concluded, the new shareholders never gave pledges to ensure the fulfilment of their obligations and, of course, did not pay for the acquired right of claim. Moreover, with the sale agreements, the new shareholders undertook to contribute to the bank's capital, but these obligations were not fulfilled either. Consequently, in the autumn of 2020, the insolvency administrator of PNB banka applied to the London International Arbitration Court against the new shareholders for the fulfilment of their obligations arising from the above-mentioned assignment agreement. In May 2022, the bank received a favourable judgment from the London International Arbitration Court, satisfying its claim in full and recovering from shareholders the sums of money that each of them had committed to pay to the bank along with the assignment agreements," krastiņš informs.

Since 2019, when the decision to open insolvency proceedings of PNB banka was taken, the insolvency administrator had also carried out other activities for the recovery of funds for the benefit of creditors and repaid in total EUR 135 million to the bank's largest priority creditor, the Deposit Guarantee Fund.

PNB banka was suspended on 15 August 2019, but on 12 September 2019 the Riga City Vidzeme Suburb Court declared PNB banka insolvent. Vigo Krastiņš was appointed administrator of the bank's insolvency proceedings. PNB banka was suspended in order to prevent the bank's funds from flowing out.

On 15 August 2019, the European Central Bank, as the direct supervisor of PNB banka, decided to recognise PNB banka as a financial institution that was failing or would fail, while the European Single Resolution Board decided not to resolve PNB banka, which means not taking measures to stabilise the bank's operations.

[lippe] 28/5/2022 21:34

Air Clontarf 😂😂

[the diddymen] 27/5/2022 19:42

Ein, this sort of take off?

[lippe] 25/5/2022 16:40

Chart is showing inverted dingleberries ..

[ein4] 25/5/2022 16:21

I would think that D H is looking for another project like Clontarf got, lets hope he is successful. With the right one and number of shares in issue , this could really take off.

[lippe] 25/5/2022 15:50

Dave's put a death grip on his sphincter ...

[lippe] 25/5/2022 13:11

If Dave drops a Friday dreadnought, this one's a goner ...

[apfindley] 25/5/2022 10:32

Oh dear. No news of Arab billionaires throwing loose change into Pet out of the goodness of their hearts to help suffering Pet shareholders?The story from the twitter pumpers is a bit different to reality eh.They got their pump and a little spike. They've offloaded. Now they'll wait until it reaches a penny again before they repeat the cycle.

[taxibabe] 25/5/2022 09:55

Exactly so, if it doesnt happen we all lose interest

[holdingtight] 25/5/2022 09:47

Well this is disappointing. Perhaps folk moving money to buy into the CLON dip.

[taxibabe] 25/5/2022 08:34

Clontarf is a quality Aussie ramp, please dont spoil my illusions.

[valentine73] 24/5/2022 15:12

They've certainly been busy HT, so who knows what they have lined up. This is their Pet after all.

[holdingtight] 24/5/2022 14:49

Was just thinking the same. Calm before the storm with any luck.Although we need Iraq to form its government for that I suppose. CLON probably not thinking of Ghana right now. So unless the bod do something left field like they did with CLON were still in the waiting room.

[valentine73] 24/5/2022 13:07

Slow day...........

[malc5] 23/5/2022 09:32

hxxps://stockboxmedia.com/interviews/clontarf-energy-mobilisation-of-drill-rig-at-sasanof-gas-project-in-western-australia/

Although this is mainly about Australia DH does talk about Ghana towards the end.

[the diddymen] 21/5/2022 21:16

Ken, hang on that word hope:

"want something to happen or be the case"

Probably better to invest on the basis of tangibles!

[the diddymen] 21/5/2022 21:16

Ken, hang on that word hope:

"want something to happen or be the case"

Probably better to invest on the basis of tangibles!

[valentine73] 21/5/2022 16:32

Tamraz and Co all out as I understand it.

[robert heenan] 21/5/2022 16:15

I was invested a couple of years back. Bailed out before the Tamraz share loan fiasco.

Is Tamraz and that other fella still involved with the company?

What's the latest developments?

I might invest again

[bronislav] 20/5/2022 15:30

Ducky fuzz.fear and greed ,the two curses of investing.