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GreenStar Agricultural Corporation V.GRE



TSXV:GRE - Post by User

Comment by clawsoonon Sep 10, 2014 10:41am
177 Views
Post# 22923001

RE:RE:RE:Pucheng Facility being auctioned by court

RE:RE:RE:Pucheng Facility being auctioned by courtThe CEO was using Bliss Time Limited (BVI Bliss) and Ally Fast Limited (BVI Ally) to hold his stocks and get around various restrictions using the "slow walk" option structure, as per this 2011 press release:

https://www.newswire.ca/en/story/882875/green-star-announces-proposed-corporate-reorganization

(I suspect, but can't say for sure, that the main purpose of this structure was to allow him to get around currency restrictions by paying Canadian dollar dividends to these holding companies.)

Is there any chance that the assets of those holding companies can be seized before they're drained, or does their incorporation in the Virgin Islands make that difficult/impossible?
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