GREY:NMKEF - Post by User
Comment by
mick1888on Jan 16, 2020 2:21pm
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Post# 30561388
RE:Nordic Bond Trustee is preventing progress or communications
RE:Nordic Bond Trustee is preventing progress or communicationsCharlene
Surely now NMX should be thinking about an out of court settlement of say half the 'Overrun Account' rather than dragging this out and potentially losing everything (well for their loyal retail supporters anyway)?
Charlene wrote: It is clear that the Nordic Bond is making it very difficult for NMX and the financing process. The Trustee is trying to get everything they can. They know that NMX is under pressure. They filed the extenstion to move the date from Jan to Feb. They filed the petition to remove PWC.... delay tatics.
This is making it very difficult for NMX to communicate anything to shareholders and make progress on financing. Any NMX commentary can be used against them in court to delay further or increase % of payment. I believe Orion wants NMX to make it to production. But, the Nordic Bond trustee is hoping that they can wait it out with NMX under financial pressure. Meanwhile, NMX is likely using creditor protection to speed up the process to resolve the bond cross-claim and finalize the bond divorce. It is a cat and mouse game.
It is sad that we (shareholders) and NMX employees are caught in the middle of the mess. I don't expect any progress or communications until the Nordic bond divorce is complete.