NoTailT Posted April 24, 2023 Share Posted April 24, 2023 (edited) I see @Derek Flint has entered the thread. What do you make of this case Derek? We can always trust you to provide balanced judgement. Edited April 24, 2023 by NoTailT 1 Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted April 24, 2023 Share Posted April 24, 2023 33 minutes ago, NoTailT said: Bit of googling whilst Mrs NoTailT plays Sudoku on her ipad. https://find-and-update.company-information.service.gov.uk/company/14271831/officers I found this to be the only link between Chatha and Scales, other than the hubb logo being on Clinches. Nature of business (SIC) 68320 - Management of real estate on a fee or contract basis 82110 - Combined office administrative service activities Makes sense as nature of business given what @offshoremanxman has educated tonight. It’s an accepted investment model personally I’ve no issue with either of them just wanted to explain how the model usually works as it’s generally built around the We Work model. If you own the freehold of a building you can drop all the risk into the management company so if it fails there’s no contamination with the freehold asset you own - the management company just defaults on the lease. I think the Sefton has now done the same thing to separate the freehold from the managed hotel business. So if you have a successful business model as a manager you can take that to another freehold owner and set up a similar structure. You’re just piggy backing on other peoples freehold ownership through leases and management agreements. Quote Link to comment Share on other sites More sharing options...
Derek Flint Posted April 25, 2023 Share Posted April 25, 2023 11 hours ago, NoTailT said: I see @Derek Flint has entered the thread. What do you make of this case Derek? We can always trust you to provide balanced judgement. Jason's case is sub judice so won't be adding anything to this one 2 1 Quote Link to comment Share on other sites More sharing options...
BriT Posted April 26, 2023 Share Posted April 26, 2023 On 11/15/2022 at 6:55 PM, BriT said: There are market abuse rules which apply in the UK where parties have made take over bids for UK public companies. I’m fairly sure there is a requirement that any offer must be fully underwritten (ie, the offeror must have the means at their disposal to back up the trade). If the offer was backed by dodgy paperwork (ie, it had no real substance) I’m fairly sure the stock exchange can slam a market abuse claim against the offeror as they’ve used a false mechanism to move the market price of shares. Page 24 of the City Takeover Code covering false markets in shares and ability to back a bid. https://www.gibsondunn.com/wp-content/uploads/documents/publications/CityCodeOnTakeovers-AnUpdate-June2013.pdf I’d still guess this is ultimately what the case here is about. Proving that documents were falsified to open up the gateway for action by the UK stock exchange for market abuse. Quote Link to comment Share on other sites More sharing options...
NoTailT Posted April 26, 2023 Share Posted April 26, 2023 37 minutes ago, BriT said: I’d still guess this is ultimately what the case here is about. Proving that documents were falsified to open up the gateway for action by the UK stock exchange for market abuse. I think the ripples could be huge. Quote Link to comment Share on other sites More sharing options...
BriT Posted April 26, 2023 Share Posted April 26, 2023 52 minutes ago, NoTailT said: I think the ripples could be huge. Agree the price movement would have made someone a fair few quid. Quote Link to comment Share on other sites More sharing options...
NoTailT Posted April 26, 2023 Share Posted April 26, 2023 37 minutes ago, BriT said: Agree the price movement would have made someone a fair few quid. Is it Esken that was the public company? Seems so from articles, I'd be intrigued to look at the price changes at the time! I've held a long belief that Scales was a front man for someone else, it'll be intriguing to see come November what names come out. 1 Quote Link to comment Share on other sites More sharing options...
newaccount Posted March 28 Share Posted March 28 On 4/25/2023 at 9:41 AM, Derek Flint said: Jason's case is sub judice so won't be adding anything to this one Has there been an outcome in this case ? Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted March 28 Share Posted March 28 (edited) 1 hour ago, newaccount said: Has there been an outcome in this case ? I have to praise Manx Radio here. They reported back in last April that: A 15-day jury trial has been scheduled to start on 13 November which will be presided over by a panel deemster; Mr Scales has been bailed until that date. But they did then update that: Update: At Douglas Courthouse on 3 November new trial dates were set for Mr Scales' trial. It is now due to start on 29 April 2024. The current court listing only goes up to 12 April, so it remains to be seen if that will actually happen or if the can will be kicked down the road again. Edited to add: Obviously the prospect of a jury trial so close makes it important that no comment is made on the matters or people involved. Edited March 28 by Roger Mexico 1 Quote Link to comment Share on other sites More sharing options...
gossip1 Posted April 10 Author Share Posted April 10 He ( Scales) was down for Mention / Update yesterday - 09/04/2024 https://courts.im/media/3573/cggd.pdf Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted April 10 Share Posted April 10 28 minutes ago, gossip1 said: He ( Scales) was down for Mention / Update yesterday - 09/04/2024 https://courts.im/media/3573/cggd.pdf I saw that, but the current listing only goes up to 26 April, so it's not possible to tell if it's being deferred again or was just a routine thing confirming the arrangements for trial. Quote Link to comment Share on other sites More sharing options...
Fred the shred Posted April 10 Share Posted April 10 The admins do not curtail members comments as a rule unless it is in danger of getting the forum the wrong side of the law so your conception is nonsensical. 1 Quote Link to comment Share on other sites More sharing options...
La Colombe Posted April 10 Share Posted April 10 42 minutes ago, Fred the shred said: The admins do not curtail members comments as a rule unless it is in danger of getting the forum the wrong side of the law so your conception is nonsensical. Eh? The admins might not but some moderators do irrespective of the legal position. Quote Link to comment Share on other sites More sharing options...
Kopek Posted April 10 Share Posted April 10 ...but you deserved it!!! Quote Link to comment Share on other sites More sharing options...
Roger Mexico Posted April 23 Share Posted April 23 Not deferred after all, except for a day, starting on 30 April: Thirteen days, so presumably quite complicated, hopefully there will be decent coverage. Quote Link to comment Share on other sites More sharing options...
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