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Bullboard - Stock Discussion Forum Reconnaissance Energy (Africa) Ltd V.RECO

Alternate Symbol(s):  V.RECO.WT | RECAF

Energy Metals & Mining Oil & Gas E&P Industrial Metals & Minerals
Reconnaissance Energy Africa Ltd. is a Canada-based oil and gas company. The Company is engaged in the exploration of the Damara Fold Belt and Kavango Rift Basin in the Kalahari Desert of northeastern Namibia and northwestern Botswana. The Company holds interest in a petroleum exploration license no. 0073 (PEL 73) in northeast Namibia and an interest in petroleum exploration rights in northwest... see more

TSXV:RECO - Post Discussion

Reconnaissance Energy (Africa) Ltd > Securities Class Action
View:
Post by Oregonduck on Mar 03, 2023 3:05pm

Securities Class Action

Any action against the insiders being sued for fraud and mispresentation can be stayed by the courts should Reco file for bankruptcy protection under CCAA. All secured or unsecured debts will out rank all equity claims by shareholders. The Mexican debts far exceed the assets.
Comment by RawSienna on Mar 03, 2023 4:08pm
Are insiders the same as the "company" in a legal sense?
Comment by pacer001 on Mar 05, 2023 3:30pm
I would think so. But on the other hand an insider could be a relative of an officer and not officially involved in the company. 
Reconnaissance Energy (Africa) Ltd
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