AVZ Discussion 2022

[Winenut]

Can anyone explain to me why in the recent ICC determination regarding the purchase of shares from Dathomir AVZ is now obliged to pay another US$15m ????

I thought the funds paid of US$20m that Cong sent back and AVZ placed in safe (cough, cough) escrow was the full payment for the Dathomir shares????

Am I missing something here???

 

[Mvdl5150]

Hence why I wanted to see the Ann regarding the issues over the payment.

 

[Samus]

Can anyone explain to me why in the recent ICC determination regarding the purchase of shares from Dathomir AVZ is now obliged to pay another US$15m ????

I thought the funds paid of US$20m that Cong sent back and AVZ placed in safe (cough, cough) escrow was the full payment for the Dathomir shares????

Am I missing something here???

View attachment 87955

Yeah Christian Lusaka apparently stole some of it, if not all of it and avz was having trouble checking the account last we heard (I think). What an immense shitshow of epic proportions!
At least it's something to talk about and investigate I guess...
Hopefully somebody can dig up some clarity.

 

[Strongman]

I don't actually think it specifies exactly how much was stolen from memory?
Might be wrong but I feel like the assumption on tse became that the whole lot was stolen, in reality we don't know how much was stolen?

Correct mate. I recall the announcement mentioned multiple fraudulent transactions or words to that effect

 

[wombat74]

The ruling seems to suggest the missing $$ is our problem, as we now have to come up somehow with 15m to pay Dathomir.

If I read that correctly, anyway?

If that is the case you'd have to think the only way they are getting that money is if AVZ get a settlement .

 

[Winenut]

https://www.listcorp.com/asx/avz/avz-minerals-limited/news/dathomir-dispute-update-2951042.html

 

[Winenut]

Looks to me like SPA 2019 ($5M) and SPA 2020 ($15M) makes up $20M????

 

[Hudnut]

I would have preferred ICC to tell Dathomir the money was paid into the escrow account, AVZ fulfilled their obligations. If you didn't take it and left it there and someone else pissed off with it that's your problem.

 

[Roon]

I would have preferred ICC to tell Dathomir the money was paid into the escrow account, AVZ fulfilled their obligations. If you didn't take it and left it there and someone else pissed off with it that's your problem.

Although it was the escrow account set up at our behest by our lawyer. So you could see why people may point to us on this one. Even though that was only because Cong had sent back the funds that had rightly paid for the stock (as the latest ruling shows, though the 5% not ruled on yet).

What a tangled web all this is

 

[UtterMoron]

Deduct the 15m from Comminiere's fines, and get the sticky fingered bastard lawyers later once the rest of the fine is paid and that can be used to go after them

 

[PutUsernameHere]

Deduct the 15m from Comminiere's fines, and get the sticky fingered bastard lawyers later once the rest of the fine is paid and that can be used to go after them

I don't disagree, it's fucked that this amount of money can just be stolen through completely illegitimate transactions (story of our lives right?). Unfortunately, $15-20M spread across 3.5B shares is going to add like <$0.006 per share in value. Less legal costs. The only people that win are the lawyers, but if it meant enforceable imprisonment of the cunt and leaving him and his family completely broke, I'd still call it a win.

 

[Samus]

I think this is all we ever got from the company, everything else was based on articles and various other hearsay from memory.
We simply don't have clarity on this issue imo.
Might be wrong.

 

[Mr_Tones83]

Christian Lukusa (or Momentum) is the agent for the escrow account, so AVZ should now be instructing the agent to pay Dathomir the money that should be there.

We all know about the criminal complaint that's been filed due to allegations of unauthorised transactions on the account, so now is the time to see whether the funds still exist.

Hopefully there was an insurance policy against unauthorised transactions that will cover the $20mill, because the disappearance of our former lawyer isn't confidence inspiring if it comes to recovering those funds otherwise.

 

[UtterMoron]

I don't disagree, it's fucked that this amount of money can just be stolen through completely illegitimate transactions (story of our lives right?). Unfortunately, $15-20M spread across 3.5B shares is going to add like <$0.006 per share in value. Less legal costs. The only people that win are the lawyers, but if it meant enforceable imprisonment of the cunt and leaving him and his family completely broke, I'd still call it a win.

It wouldn't be for divying out to the shareholders, you'd just deduct a portion of the fine in lieu of payment for the 10% we now unequivicolly have the rights to. That'd save time dealing with cong and lukusa and the escrow account. It'd give the DRC no legal reason to reneg for delayed payment, and we can flog this mine off for a higher price. Then we'd go after the escrow

 

[tonster66]

The ruling seems to suggest the missing $$ is our problem, as we now have to come up somehow with 15m to pay Dathomir.

If I read that correctly, anyway?

This is interesting because the ruling says that AVZ legally acquired the shares. This tells me that a contract was completed and for the contract to be completed then the monetary side of that contract must have been completed. I am a bit confused about this.

 

[BEISHA]

LOL

https://static1.squarespace.com/static/5934d2ae6b8f5beeb5ba23f3/t/686516d95dd5762478343aa7/1751455451768/20250702+Announcement+-+Dathomir+SPA+2020+Decision+%28final%29.pdf

View attachment 87925
View attachment 87924

Fantastic news folks, not that it was a surprise, cunt cong had no chance !

In a macabre way, happy BOD went back to ICSID to seek out that justice, shame applied to Dathomir aka CHYNA.

Now i wonder, does Graeme Jonhston have a defamation case to apply towards Cong ?

fraud my arse hey Graeme ?

 

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[Azzler]

Although it was the escrow account set up at our behest by our lawyer. So you could see why people may point to us on this one. Even though that was only because Cong had sent back the funds that had rightly paid for the stock (as the latest ruling shows, though the 5% not ruled on yet).

What a tangled web all this is

If this is how it happened, and Cong actually received the funds. Then at that point, it could be argued that the transaction was complete and final.

Him sending it back doesn't undo anything.

The money being stolen also doesn't undo anything.

Again, IF thats how it happened, then i would be of a very strong opinion that AVZ doesn't have to pay Cong anything more.

But as always, no one here has all of the facts and we can only speculate based on what we think we know.

I trust Nigel has it all covered under his very capable watch.

Let's hope a positive outcome for us shareholders isn't too far away.

 

[Carlos Danger]

This is interesting because the ruling says that AVZ legally acquired the shares. This tells me that a contract was completed and for the contract to be completed then the monetary side of that contract must have been completed. I am a bit confused about this.

I’ve posted this over 100 times in the last few years. It answers your confusion.

 

[timb89]

This is interesting because the ruling says that AVZ legally acquired the shares. This tells me that a contract was completed and for the contract to be completed then the monetary side of that contract must have been completed. I am a bit confused about this.

Great point. How could they conclude ownership if payment not exchanged?