http://www.investegate.co.uk/watchs...aim-by-slater-and-gordon/201705110700157958E/
Regardless of the above:
1 Total market cap (ie perceived value) of WTG at the close last Friday was £65m, or AU$112m. Where does SGH think $1bn would come from, even if its claim were to succeed in its entirety?
2 The claim made by SGH apparently alleges 'fraudulent misrepresentation'. No insurance is available that will pay out on fraud so, again, if the claim were to succeed, where would $1bn come from? Does SGH plan to make the likes of Lord Howard bankrupt? I doubt WTG's directors in aggregate are worth anything useful in this context anyway.
There looks to me to be something odd going on in WTG in connection with all this because 2 hedge funds (Beach Point Capital and Polygon) and two giant investment banks (Deutsche Bank & Goldman Sachs - I wonder on whose instructions) have taken sizeable positions in WTG, which is way below their normal size threshold. Societe Generale has also been playing the shares. Note all the recent holdings notices (not you, SWC - I believe you to be insincere in your posts - the info is for others; I'm not interested in what you have to say about anything because imv what you post is flawed in its entirety):
http://www.investegate.co.uk/Index.aspx?searchtype=3&words=WTG
Maybe these holders hope to score when the escrow money (prudently written down to nothing in WTG) gets released and the fraudulent misrepresentation claim is dropped on the instructions of SGH's new owners (Anchorage) in the not too distant future.
'Hope' is not a valid investment strategy for holders here. The present owners are the ones who owned SGH when AG & Co blew all its value. That they're still holding shares in of historic interest only to the ones now pulling the strings.
There are no 'gratis' second chances on the stock markets. It doesn't work like that - as imv those calling these shares a buy will soon discover.
