Thanks Ian!my spidey sense can’t help but think this is a strategic announcement more than anything, Being months late and with rather uncanny timing without first a shareholder meeting !which was the agenda previously back in mid January and before this Thursday’s announcement of whether they’ll be replacing Ron and his cronies from the other four investments! I say yes, get our money or land . whichever . Sooner rather than later, So anyone else notice that Noel winters is the director on that company? So he can’t manage that project . but yet the investors in the land projects are expecting him to successfully restructure $100 mil in land assets ?
No way , sign the form and send it back to tell Olympia trust to finally start looking out for investors.
What concerned me is that Olympia Trust „will be seeking funding and indemnities from bondholders prior to commencing action“ Does this mean I’m getting a bill in the mail from yet another lawyer? But it looks like if the outstanding interest is paid by June 30th, they will not proceed. They’re going to fire sale the show homes at Sullivan Landing and hopefully raise the monies by jordan femme foot locker france the end of June, And yes, Noel Winters what a joke that is, So I wonder if Res Motors in China really knows what’s going in with Ron Aitkens to appoint him director of finance. His house is on fire and he doesn’t have a fire extinguisher, What really gets me is this „Olympia will be seeking funding and indemnities from Bondholders prior to commencing any action.“
1. Accept the offer by Okko Homes and the recommendation by Noel Winter and FM3C to let them sell the show homes on the property at fire sale prices to generate enough money to pay the interest and keep the mortgage repayment current (while somehow figuring out an „alternate“ funding model). This is the DEFAULT option!2, If investors holding, in aggregate. 25% or more of the $5.4 principal value of the outstanding FM3C bonds send in the bondholder requisition form to Olympia. we will essentially foreclose on the loan and demand repayment of achat de maillot de foot pas cher the principal and accrued interest, So a few large investors can sway the vote either way by participating or refraining from calling for accelerated debt collection,
Noel Winter is the president of Okko Homes and he is recommending that we stay the course. He also heads up FM3C. so there is a „potential“ conflict of interest, If you don’t feel comfortable with that. then seriously consider sending in your requisition to Olympia! However! Olympia will certainly require some payment for legal fees (court costs! lawyers, etc,) which may eventually be reimbursed after foreclosure (if enough funds are extracted from Okko), Also of note is that there is no guarantee of a full repayment of our principal through enforcement proceedings but there is probably less likelihood of seeing the return of our capital without this action,
I strongly suggest that Okko Homes provide a clear, viable plan for a full repayment of capital as scheduled by 2013 (which they have not, beyond paying the accrued interest until the end of 2012) or face immediate foreclosure, This recourse has teeth,
These guys are only looking after their own best interests and are going to stick together through thick or thin and forget all about the investors. I agree acheter maillot de foot with WTF when he says that Noel Winters CAN NOT after his own investors but he is the right guy to not only save our investments but also our souls, Thanks Noel we really really aprreciat your hard work and taking good care of us, I also agree with Mitt all these guys are connected one way or another. Why is the UCC „the only game in town“, Why haven’t the police been called and why aren’t we finding someone from one of the major players in land development to manage this mess, Tommorrow I am meeting a class action lawyer before all of these companies go down, Time to derail this train and stop this SHIT SHOW.They did not act alone, the „advisors“ that sold it did not do their homework! as professionals! Pinnacle Wealth Brokers, formerly „Alberta Land and Investment Brokers“, sold millions of Foundation and Harvest Group. and is still defending them, „Solid Financial“ out of Red Deer Sold Millions as well, Foundation was only one of the debacles that that have come from those investment dealerships. Ask your financial guy if their dealership has sold failed investments before you invest. Many groups just want the commission without the responsibility. It is composed by wudideshuaige xuxiaobu 2013-05-21 .
