OTCPK:KATFF - Post by User
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Quest4insighton Apr 29, 2018 9:41am
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Post# 27955509
KATANGA has 100% surviving chance
KATANGA has 100% surviving chanceIn the matter of KCC, Katanga is ready to forgive some portion of debt and recapitalize the KCC. Some extend if proven in court, Katanga have borrowed money on lower interest and lent to KCC with higher interest by being responsible for both managements. That may need to be corrected by clearing extra interest from books and may have to blame someone who is already been fired for such misconduct because COURT may not tolerate this extra interest strategy of KATANGA to its own company KCC. I think no court of any country can favor Katanga for that. So basically clear the situation and creat goodwill gesture by clearing little extra debt from book so it may please court and GECAMINE. Totally managable and it may creat positive wibe for them for fairness.
Second matter of Royalty affiliated with Mr. Gertler, Katanga is right. It will not be any problem to defend that in court.
In December 2017, the United States government designated Mr. Gertler and companies affiliated with him as SDNs, thereby imposing blocking sanctions on them and companies owned 50% or more by them.
In December 2017, the U.S. government sanctioned Israeli billionaire Dan Gertler under the Global Magnitsky Act for high-level corruption The sanctions intend to cut off the businessman, as well as other designated companies, from the U.S. financial system and will have major impacts well beyond the American borders. Swiss commodity trader Glencore owes an estimated $220 million in royalties to Gertler-affiliated companies over the next two years. South African miner Randgold was exploring a Gertler-controlled concession. Both companies have said they would “comply with sanctions,” but neither has stated whether it has broken off their partnership with Gertler for good. Nor has the Congolese government said how it would deal with Gertler’s companies that own two oil blocks in eastern Congo. Will the government revoke those titles – or will it instead retaliate against sanctions that affect one of its closest business associates?