RE:RE:RE:RE:RE:RE:WhoahI remember when the large tko owner of a credit facility invested in tko and got elected to the bod.
He then teamed with the raiders to bankrupt and take control. That was a big scam.
Ncu is the exact opposite. Pala was in control with 90 % ownership once cheap warrants were bought.
So he/Lorick owned ncu for as cheap as it could get. With sh 128 million bid Pala loses 100 million unsecured loans and all there share investment. They have about 100 million about 3rd in line as a secured loan. However, it appears sh only pays arrears and then carries on with loan contracts.
It appears that either no one wanted to do business with ncu or that the process was to rushed. I am hoping that some of the corps will have time over the next month to think things through and submit some bids.
Nf