A happy New Year to all, especially Esrimeur. Apologies for last night's uncalled for post.
As to the Bermuda liquidation: if you doubt my figure, try it out for yourself. I e-mailed about 10 law firms there asking the approximate cost of presenting a petition on 'just and equitable' grounds, the only grounds available to me as a shareholder. To date I have had just one response, $30,000 being the figure quoted. This is based on the assumption of a shareholder dispute, implying that the petition would be contested. This is a world apart from the normal open and shut petition on grounds of insolvency as evidenced by an unsatisfied statutory demand - not available to me as I am not a creditor.
Why did some go long and some short on exactly the same information? The answer lies with Pearson. Those who could not even conceive that a man of this stamp should issue RNSs that were wrong put aside their misgivings and went long; those who thought the company stank and nothing Pearson or anyone else said would change that, went short.
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