Prospector
Not a scaredy cat anymore
- Joined
- 18 January 2006
- Posts
- 2,594
- Reactions
- 2
Is that true? You are calling them liars?
dont you people get it ?? as previously posted. jim and jab now have your unit transfer forms signed by you. jim and jab lodge forms after the 22nd. you are still liable for the $1 call. jim and jab have untill jan 2010 to cash in on your units, which you signed over. imo. by the way jim your alter ego " metoo" is too obvious.
by the way jim your alter ego " metoo" is too obvious.
Is that true? You are calling them liars?
dont you people get it ?? as previously posted. jim and jab now have your unit transfer forms signed by you. jim and jab lodge forms after the 22nd. you are still liable for the $1 call. jim and jab have untill jan 2010 to cash in on your units, which you signed over. imo. by the way jim your alter ego " metoo" is too obvious.
So does that mean we did actually get it and metoo is not Jim's alter ego? Did I hear an apology happening here?
BTRL, owned by US-based New Hampton Distressed Asset Fund, holds a 15.2 per cent stake in the troubled BrisConnections trust and filed the action with the federal court in Sydney today, representative Jim Byrnes told AAP.
hi mac, that figure you mention is only a very rough calculation. as stated by jim share parcels under 500,000 would not be paid for, and owners must contribute to the class action fund $1000.
so of the 50mil odd shares some may have been purchased for zero consideration. in addition the class action is partially funded by theses smaller share holders.
Good luck Jim. I'm cheering for you.
Jim Byrnes is an Australian businessman and convicted criminal, based in Sydney and specialising in property development and mortgage finance.
Byrnes served 18 months in jail starting in 1986 for malicious wounding and the supply of heroin. In 1992 he went bankrupt, owing A$8 million. In 1994 he assisted businessman Alan Bond in Bond's bankruptcy proceedings.
In 1998 Byrnes was disqualified by the Australian Securities and Investments Commission (ASIC) from the management of corporations in Australia, but he has continued to engage in business activities and allegedly accumulate unpaid debts.
Speculation continues over a fire at a house owned by Byrnes in the Sydney suburb of Woollahra in 1997. Two men, apparently employed by Byrnes at the time, were charged with arson. One, Max Gibson, died from a heroin overdose in 2001, and the other, Tony Vincent Jr, faced a trial which resulted in a hung jury. When Byrnes was disqualified by ASIC, Gibson had replaced him as director of his companies but was himself disqualified in 1999 due to a criminal record. In 2005 an inquest into Gibson's death heard allegations that Gibson had been murdered by underworld figures. In April 2006 Byrnes appeared at the inquest.
In recent times, Byrnes has attempted to act as a funder of commercial litigation. These attempts do not appear to have had much success as is evident by at least one judgment of the Supreme Court of NSW (see Bauhaus Pyrmont Pty Limited (in liq) [2006] NSWSC 543 per Mr Justice Austin). Indeed in that judgment, the Court notes that Mr Byrnes made demands for monetary payment by raising suggestions that involved threats of physical harm (judgment paragraph 78).
In September 2006, it was reported that Byrnes' Sydney auction business "Cromwells" located in Pyrmont was placed in administration
The impact of a significant and sustained increase in fuel prices on traffic volumes is a risk that should also be considered. Increased fuel prices may lead to a reduction in car ownership, car utilisation and a shift in modal share to public transport, walking, cycling or motorbikes and scooters. Any developments that reduce traffic volumes or inhibit the growth in traffic volumes on Airport Link could have a material adverse effect on BrisConnections’ financial condition and results of operations.
3 Key assumptions
In preparing traffic forecasts it is necessary to make a number of assumptions. This section sets out some of the key assumptions used in the APL Traffic Model. The assumptions adopted are considered reasonable given the data currently available at the time of the preparation of the traffic forecasts.
Jim is no angel.
From Wikipedia
Also, what is "New Hampton Distressed Asset Fund"? A hedge fund? Try googleing it, no results except in relation to Brisconnections.
if all else fails we can organise a baseball game.
Enzyme
For Brisconnections, you are looking at over $700 million per kilometre, compared with $100 million per kilometre for Melbourne's city link (completed 1999), and about $95 million per kilometre for Sydney's Eastern Distributor (completed 2000).
Yes, I'm jeering from the sidelines, but quite frankly I cannot see how this project wont collapse into a black hole of debt.
I too am curious about the above.Jim and David:
Can you unequivocally and categorically assure all the people from whom you have accepted/bought BCSCA shares that under no circumstances will they still be liable for either of the two $1 payments owing?
With thanks.
Does Jimbo still have his trusty old baseball bat or was it confiscated by the police?
Bolton would make for a good "switch-hitter".
I have not looked at the PDS in great detail but my understanding is roughly as follows,is it funded by debt or shareholder equity? or a combination? even if some holders default isnt macquary and duetch liable as underwriters to make up the shortfall? they can then chase defaulters through court to get back whatever they can if thety deem worthwhile(cost and image).
also has there been a cost blowout or were investors aware of the cost in the PDS? i thought its running on cost and ahead of schedule? maybe $700mil/km has factored in cost over runs. i dont see them going broke.
its a US owned hedge fund with a registered address which is same address as Jim Byrnes. Macquarie are questioning if it really exists. Bit irelevant anyway isnt it? anyone can raise $500 to purcharse 15% stake. and anyone can file for bankruptcy if the $1 call is enforced.
mum and dads have been relieved of the burden of debt and jim/BTRL/New Hampton will now TRY to make a profit. There option is hush money in the style Bolton recieved, or litigation which has begun.
The litigation path will be costly and possibly too late to avoid the $1 call. IF the litigation wins, BTRL will be entitled to very little as they lost very little due to negligence or not. I guess the real payout is in the 33% commission the will take on any payout IF they win. It is partially funded by shareholder contibutions to the litigation fund of $1000, so i guess little at risk for a potentially large reward.
Mate Sorry , just because a reporter got it wrong does not mean you should .
The Us company address is in New Hampshire
I am there Australian representitive , and yes there wholly owned company has a registered address and its not mine . do an asic search
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?