X64 0.00% 57.0¢ ten sixty four limited

Hi TL. Good to get some movement on this case.I think your claim...

  1. 113 Posts.
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    Hi TL. Good to get some movement on this case.

    I think your claim of us getting 22mil might be wrong. The document states:

     Repayment of the MMPRC / PMC Loan: repayment by PMC over 15 years through a
    combination of:
    o First Upfront Payment: initial upfront lump sum amortization payment consisting
    of an upfront cash payment of USD 10,500,000 (to be paid within 10 business days
    of entry into the Compromise Agreement);
    o Second Upfront Payment: further upfront lump sum amortization payment
    consisting of a cash payment of USD 4,662,000 (to be paid within 5 business days
    of receipt by PMC of the repayment of an intercompany debt owed to it by KDTL);
    and
    o Year 1 Amortization Set-Off: A further total of USD 11,913,000 amortization
    payments to be made during the first 12 months
    by way of monthly set off against
    the PMC Compromised Claim (to be applied during the first 12 months after
    execution of the Compromise Agreement);
    o Quarterly Payments: a minimum of USD 658,159 and a maximum of USD 1,316,318
    of amortization payable per month
    through a combination of cash and set-off
    against the PMC Compromised Claim, which shall begin to accrue on 1 February
    2025, with flexibility for PMC to repay the MMPRC / PMC Loan earlier. The first
    quarterly amortization payment will be due on 21 May 2025.

    So I've got 10.5 + 4.6 + 11.9 = 27mil in the first 12 months, then there's the quarterly payments over the next 14 years at
    0.658 -> 1.316 per month = 110.5mil -> 221.09mil

    Our claim for 248mil less their claim for 108 leaves us with a $140mil discrepancy, which is in the bounds of the repayment numbers above.

    Am I missing something?
 
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