AVZ Discussion 2022

[Xerof]

I suspect that Lusaka forms part of the new concrete footings at the Mpiana Mwanga Hydro dam

or

he's having Friday afternoon margaritas on the beach on Epsteins Island

 

[Samus]

With the benefit of hindsight, I reckon Cong Mao might regret not pocketing the $US20m and relinquishing his 15% stake in Dathcom.

It's doubtful, they are all under the thumb of Xi Jinping and the CCP including the Congolese elites, CATH. The Chinese in particular will have zero autonomy outside of that.
Dissidents aren't tolerated, Simon Cunt will have to grin and bear it.

 

[Carlos Danger]

According to AVZ, the missing $US20m belongs to Cong Mao Huai as payment for his 15% of Dathcom.

According to Cong Mao Huai and the DRC criminal court, the missing $US20m belongs to AVZ as returned payment for his 15% of Dathcom.

Regardless of who actually owns the $US20m, its ownership has been in dispute since 2021. Therefore it could never (prudently) be used as security for Locke or any other debt facility. When this is viewed through the lens of AVZ's only other significant asset, the disputed tenement PR 13559, unfortunately there is not much that AVZ can offer a financier, which is not already encumbered or in dispute.

However, all is not lost. Given Cong's well-established contacts in Kinshasa's seedy underbelly, he should be able to locate and retrieve (somebody's) $US20m in a heartbeat, and in the process possibly moderate Christian Lusaka's boyish enthusiasm.

With the benefit of hindsight, I reckon Cong Mao might regret not pocketing the $US20m and relinquishing his 15% stake in Dathcom.

Just musing on a wet Friday afternoon.

Cheers
F

Of course the funds in escrow can be prudently used as security

If the funder agrees that the SPA’s were completed correctly and that the losses sustained to be recovered will cover the amount

I think there is more chance that DLA piper don’t understand basic contract law than it being a coincidence that there was a 6 day turnaround between the suspicious resistance in confirmation of funds and the need for an appropriate security package for the facility being announced but you do you boo

 

[Flight996]

Of course the funds in escrow can be prudently used as security

If the funder agrees that the SPA’s were completed correctly and that the losses sustained to be recovered will cover the amount

I think there is more chance that DLA piper don’t understand basic contract law than it being a coincidence that there was a 6 day turnaround between the suspicious resistance in confirmation of funds and the need for an appropriate security package for the facility being announced but you do you boo

View attachment 71368

The issue is not about funds being in escrow, but the uncertainty about their ownership.
I doubt any financier would accept as security money whose ownership is in dispute or yet to be established.

Further, AVZ's claims are not dealt with at this stage, and no decision or award tabled.

 

[Carlos Danger]

The issue is not about funds being in escrow, but the uncertainty about their ownership.
I doubt any financier would accept as security money whose ownership is in dispute or yet to be established.

Further, AVZ's claims are not dealt with at this stage, and no decision or award tabled.

Fun fact if the claims had been dealt with and the decision made with damages awarded we wouldn't need financing

But I guess we are 11 months deep into this process because the original plan for an appropriate security package for the facility is proceeding exactly as planned lmao

 

[Flight996]

Fun fact if the claims had been dealt with and the decision made with damages awarded we wouldn't need financing

But I guess we are 11 months deep into this process because the original plan for an appropriate security package for the facility is proceeding exactly as planned lmao

Yes, that's the unfortunate irony, and world we currently live in.

One day, AVZ will be vindicated, and those lying, thieving knuckle-draggers will turn on each other with clubs and machetes.

 

[Frank]

x.com

x.com

 

[Bonsoir]

According to AVZ, the missing $US20m belongs to Cong Mao Huai as payment for his 15% of Dathcom.

According to Cong Mao Huai and the DRC criminal court, the missing $US20m belongs to AVZ as returned payment for his 15% of Dathcom.

Regardless of who actually owns the $US20m, its ownership has been in dispute since 2021. Therefore it could never (prudently) be used as security for Locke or any other debt facility. When this is viewed through the lens of AVZ's only other significant asset, the disputed tenement PR 13559, unfortunately there is not much that AVZ can offer a financier, which is not already encumbered or in dispute.

However, all is not lost. Given Cong's well-established contacts in Kinshasa's seedy underbelly, he should be able to locate and retrieve (somebody's) $US20m in a heartbeat, and in the process possibly moderate Christian Lusaka's boyish enthusiasm.

With the benefit of hindsight, I reckon Cong Mao might regret not pocketing the $US20m and relinquishing his 15% stake in Dathcom.

Just musing on a wet Friday afternoon.

Cheers
F

Cong did relinquish his 15% stake in Dathcom when AVZ handed over $US20m. Cong returned it because sellers remorse with Lusaka setting up an escrow account and placed in charge of that transaction.

Missing money is purely between Cong and Lusaka with nothing to do with AVZ. Sellers remorse is not a legal argument for thinking the deal can be reversed.

 

[wombat74]

Cong did relinquish his 15% stake in Dathcom when AVZ handed over $US20m. Cong returned it because sellers remorse with Lusaka setting up an escrow account and placed in charge of that transaction.

Missing money is purely between Cong and Lusaka with nothing to do with AVZ. Sellers remorse is not a legal argument for thinking the deal can be reversed.

Correct me if I'm wrong , but did we not also give Cong 200+million shares ? A nice $200 million + pay day for the taking . Or did he sell them for peanuts because he thought the Manono project was a dog with fleas ?

 

[Dom1974]

Manono is a dog with fleas at the moment