Post by
grandpa67 on Jul 11, 2019 12:36pm
how things work in canada
I talked with the person who contacted the trustee from pwc and this is how bad things work in Canada. When pwc goes in they only look at the books and debt of Argex. They do not investigate into up coming deals or care about any efforts to raise money. They only go on what the directors have voted on. So without seeing any deals or any value of the land they only see debt and a technology worth nothing. Mr Alnaimi used the payroll to bankrupt the company, they had already missed one payroll and were not able to make the next payroll. The only people who could look into this is the AMF or a lawyer. The trustee said that us shareholders could also contact and complain to the directors of Argex. Good luck with that when they are all stealing the company.
Comment by
Mininggeneral on Jul 11, 2019 1:37pm
All I hear on this forum is that Mazen screwed everyone because he decided not to raise anymore money and keep company float. Didn't he file on bankruptcy that he already threw in his own money and even he lost. What kind of defense is forcing someone to keep the company float when he has no more ability, judge will laugh at that defense.
Comment by
blueskiesrgx on Jul 11, 2019 1:47pm
I've heard 1 director voted AGAINST the bankruptcy..
Comment by
Mininggeneral on Jul 11, 2019 2:00pm
Grandpa, being the spiritual leader on this board, strength in numbers as you always say. Your always wanting people to go all in with the lawsuit, but you have never answered this simple question, what fraud did Mazen commit that can be proved? If you can't answer this, why are you making more shareholders go more broke?
Comment by
hcourtem on Jul 11, 2019 3:15pm
The board is directly responsible for protecting and managing shareholders' interests in the company.