XST 0.00% 0.9¢ xstate resources limited

Ann: December 2018 Quarterly Activities & Cash Flow Report, page-52

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  1. 7,782 Posts.
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    1trader
    hong imho is closer than the market has taken notice of. Imho 28th, which is around 48 hours left as of tomorrow, and he is bankrupted.
    tanzil is on a contempt of court matter, which seems to be on a rotating pre trial process, with the last one being last friday. perhaps the courts will set a trial date for that now?
    alvares has been touted by the operator for a good many years now, i have lost count on how many times they have said its going to be next quarter.. but they recently put in a massive delay right out to earliest june 2019..
    my view on things is that logic says you settle before a bankruptcy, make a reasonable commercial settlement and get on, as bankruptcy is a big hurdle for hong as the property is mortgaged and things will go real bad post the 28th. but we have seen the sanston 4 be incredibly evasive and divisive..

    imho if tanzil indicates complete unwillingness to settle and all avenues exhausted, then imho the laws that governed the breaches of the bankruptcy act during his period of bankrutcy will be where xstate goes next, and expect xstate will be duty bound and forced to present full complaints with respect to all the breaches of the bankruptcy act that have been made with respect to the transaction. imho you would try for a civil case first then flip to criminal lastly..
 
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