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Bullboard - Stock Discussion Forum Banca I.F.I.S Spa BNCIF

Banca Ifis is an independent banking group specializing in the collection of trade receivables, non-performing loans, and tax receivables. The group's credit is exposed mostly to Italy and other European nations. Its trade receivables segment focuses on growing trade finance loans and providing liquidity to Italian small and medium-sized enterprises. Approximately one-third of its loan... see more

GREY:BNCIF - Post Discussion

Banca I.F.I.S Spa > Constructive Trust
View:
Post by Goldfather on May 08, 2017 1:52pm

Constructive Trust

any legal guys out  there ? Says Constructive Trust below....... this looks very complicated.  Also gotta say, theres very smart guys at CSK, Bragnola, and large investors behind  them. This wasnt a one  trick pony, and  they have/ had contingency plans ( if ) they didnt get the refinery. As they knew very well,  the may not get  the  refinery well before  they started  this play. From what  i am personally told. 

Cobaltech believes that the agreement announced by Equator on April 26, 2016, was negotiated and entered into in breach of both Equator's and Yukon's obligations to Cobaltech.

Cobaltech intends to commence legal proceedings against both Equator and Yukon seeking damages and a declaration that any interest in the property acquired by Equator is held in a constructive trust for the benefit of Cobaltech.

Comment by newsimon1707 on May 08, 2017 2:40pm
My understanding is that the property would be held lock down by the court in a trust... making it unusable for Equator (usually, no access) it's like if you contest the sell of the asset, the acquirer can't benefit from it or use it... like if the sell wasn't legal... So that would probably put a hold on the transaction, since Equator won't want to pay millions of $$ to Yukon up ...more  
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