Petrofac Share Discussion Threads

[plunger2] 11/2/2021 12:18

The thing to remember in all your assessments of the SFO powers is their recent STUNNING defeat in the Supreme Court in the KBR case. https://www.lexology.com/library/detail.aspx?g=6ca697fc-8d72-4f27-b67c-b780f2812a0f It's going to make obtaining evidence from non-resident companies very difficult. Until the law is changed - if it is - they have big problems with the multi-jurisdiction cases. And why change the law? Just to clean up some foreign countries act? There is no limit to the stupidities of HM's Govt but Lisa Osofsky's Team ain't beyond scrutiny themselves. We'll see. DYOR.

[ttny2004] 11/2/2021 12:08

That's what I thought. But the more information one has at hand the more informed decision one can make.

[wigwammer] 11/2/2021 11:57

Collapsing oil price impacted operations and sentiment and top line has fallen. BUT... oil price has since recovered strongly. Nothing in the current equity valuation to reflect the latter - potential recovery in contracts and sales.

[ttny2004] 11/2/2021 11:52

For those of you in the know I can see the SO dropped from highs on 2012 and you can see from 2017 dropped considerably further.What were the reasons for drop up until 2017?If it just this legal proceedings that have effected company since or are there other factors in play.New to this share and gathering research before making an investment decision

[wigwammer] 11/2/2021 11:38

Re opioids case. Indivior has tripled off the lows over the last year.

[dealy] 11/2/2021 11:31

That SBM case is scary. Too many authorities in different jurisdictions trying to get the boot in. If there isn't some sort of cap on claims then it becomes impossible to run the company. So you settle with the SFO only to be chased by say the French equivalent. Clearly no company can operate in such an environment. This is what happened with the Opioid claims in the USA last year. A chain of claims.

[knowing] 11/2/2021 11:15

Https://www.mondaq.com/uk/crime/1017960/with-sbm-offshore-now-facing-a-bribery-investigation-in-a-fourth-country-neil-williams-of-business-crime-specialists-rahman-ravelli-emphasises-the-risks-associated-with-operating-in-multiple-jurisdictions I wonder if PFC were just caught up in the mess without their knowing. We shall see what transpires.

[paa65] 11/2/2021 11:07

Not sure we'll get SFO news today.Those who are well versed in the PFC saga will know that it all started with SFO investigation in to agents called Unaoil (PFC were one of their biggest customers). The SFO show their Unaoil and PFC cases as being linked investigations At an SFO trial last year, involving Unaoil and their client "SBM offshore", two Unaoil employees were convicted, but no verdict was reached on the SBM employee (Paul Bond) and a retrial was set for him for January.I note on the court list someone posted earlier, that the trial of a "Paul Bond" is part way through.Hope I am wrong as I hold PFC and want to see a good recovery, but why would SFO close the case when they still have ongoing court action on a linked case?

[mastersmix] 11/2/2021 10:56

Short positions closing on that dip???

[dealy] 11/2/2021 10:36

a bunch of holy Joe's

[timmy11] 11/2/2021 10:33

the british are so stupid damage a company in the u.k.

[mastersmix] 11/2/2021 10:26

Thanks, yep I googled that but was wondering if that is DF or is it just the one case. I noticed a report on SFO says investigation on PFC is ongoing?

[timmy11] 11/2/2021 10:24

An ex parte decision is one decided by a judge without requiring all of the parties to the dispute to be present.

[mastersmix] 11/2/2021 10:21

One has DF one is Ex Parte.... Im not a legal expert so need some help to understand the impact of two cases against DF. It makes me nervous about my position. I was in at 103 a few weeks ago so may just cut and let the dust settle

[mastersmix] 11/2/2021 10:14

Two cases showing on Court 7 are both for DF?

[ttny2004] 11/2/2021 10:05

On court 7

[oakville] 11/2/2021 10:02

Why are people topping up above 80p? Just bizzare.

[auson1] 11/2/2021 09:40

Wardy333, Yes short tracker still shows Rye Bay at 3.53% but two other sites are reporting that they have covered to 0.00% on 1st Feb No smoke without fire and all that shortics.com and aktiencheck.de

[ttny2004] 11/2/2021 09:34

Live court status update can be seen from 10amhttp://xhibit.justice.gov.uk/southwark.htm

[action] 11/2/2021 09:22

I have topped up today. Hoping for best.

[topazfrenzy] 11/2/2021 09:18

They will drop it for the shorts to get out, get ready to grab some if they do

[mastersmix] 11/2/2021 09:07

The news today will have PFC all 8n the media on bribery, obviously going to be a dip but long-term if your in :)

[gozzy88] 11/2/2021 08:54

Court case will soon be over ?