GREY:OLEPF - Post by User
Post by
frankmanon Jun 15, 2013 5:24am
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Post# 21544987
LAWSUIT! OLE to pay lawyers from credit card?
LAWSUIT! OLE to pay lawyers from credit card? It is turning ugly and could take months/year to resolve. Meanwhile OLE will have to pay lawyer(s) from the credit card with $3,000,000 already borrowed at 12% interest compounded daily paid monthly. Lawyers at least $300 per hour. Looks like the remaining $2mil on the credit card will be tapped out not to mention regular company costs.
Did you take profit as I suggested in case this turned ugly and not swallow the hype? Tax loss season coming soon and OLE is a prime candidate for a dump, now that the courts are involved.
"Oromin also reports that it is aware that a lawsuit referred to in the June 11 news release of Bendon International Ltd. has been commenced by Bendon in the Ontario Superior Court of Justice. The lawsuit names Teranga, Oromin and Oromin’s wholly-owned subsidiary, Sabodala Holding Limited, as defendants. Oromin has not yet been served with the lawsuit and will consider its response in due course."