Opportunity In Crisis Investing

More
10 years 11 months ago - 10 years 11 months ago #17961 by erelation
Interesting to note that Goldman Sache pull off their credit line and only give a few hour notices to pay back $61 million. What on earth will be able to muster $61 mil within a few hours...

Also Buyer has been arranged to takeover the shares but Goldman Sache opt to force sell the shares. Doesn't this means lower amount of money to be recovered. Is Goldman Sache acting in their own interest by opting to force sell and collapse the share price?


IN THE latest twist in the penny stocks meltdown over Blumont Group, Asiasons Capital and LionGold Corp, two shareholders are mounting legal action against global bank Goldman Sachs.

A shareholder with stakes in all three stocks, Ms Quah Su-Ling, has filed a lawsuit against a unit of Goldman Sachs. Ms Quah, the chief executive at Ipco International, has alleged that the bank had breached its duty.

Court papers cited in an article in The Edge magazine yesterday state that Goldman Sachs had force-sold Ms Quah's shares in the three counters from Oct 2.

This came within hours of the bank demanding that she repay her entire loan in cash by 1.30pm that same day.

Since she had opened her account in February this year, Ms Quah's loan with Goldman Sachs grew from $12.4 million to more than $61 million by Oct 1.
Last edit: 10 years 11 months ago by erelation.
The following user(s) said Thank You: Mel

Please Log in or Create an account to join the conversation.

More
10 years 11 months ago #17966 by yeng
She borrowed $61 m to buy shares? My jaw drops!

And Goldman recognised the purchased shares as worthy solid collateral for the $61 m loan? My jaw drops!

I am going to get lock jaw reading this case. :P

Please Log in or Create an account to join the conversation.

More
7 years 8 months ago #23582 by Kapitan
Sunmoon is now 10.6 cents (+0.3 cents) after releasing 4Q16 results.
Net profit of $5.3 m ... but this was boosted by one-off gain from disposal of subsidiary of $5.7 m

Market cap now $33 m. Have to wait for concrete sign of profitability after the restructuring of the biz. If can achieve $3 m, then PE is abt 11X.

Please Log in or Create an account to join the conversation.

Time to create page: 0.200 seconds
Powered by Kunena Forum
 

We have 505 guests and no members online

rss_2 NextInsight - Latest News