Gold or Silver
25 Feb 2018
Barnaby C. Stueck Metro Baltic Horizons, property investment company, investigates claims against former directors, investment manager, and investment advisorJones Day is advising Metro Baltic Horizons Plc, an AIM listed property investment fund, in connection with claims arising out of investigations into the activities of its previous directors, investment manager, investment advisor and other professional advisors, including the individuals behind the entities. The claims relate to four property investments in Estonia, Latvia, and St Petersburg and involve defendants and potential defendants in the Isle of Man, Estonia, Finland, and Ireland with further contested proceedings on foot in Estonia and Russia. Jones Day also advised the company in relation to the recent suspension of its shares and continues to advise it in relation to its ongoing listing obligations.For additional information about this matter, please contact: Barnaby C. StueckClient(s): Metro Baltic Horizons plcPractice(s): Financial Institutions Litigation & Regulation, Global DisputesOffice(s): London
Gold or Silver
23 Feb 2018
Re: 2018 . Ronan Reid CEO METRO BALTIC & OTRS v JAMES & OTRSContinuum .Best of Luck A
Gold or Silver
13 Jan 2018
2018 . Ronan Reid CEO NOTICE OF ANNUAL GENERAL MEETINGNotice is hereby given that the Tenth Annual General Meeting of Metro BalticHorizons PLC (the “Company”
will be held at 75 St Stephens Green, Dublin 2 on7 February 2018 at 10.00am for the following purposes:ORDINARY BUSINESSTo consider and, if thought fit, to pass the following resolutions which will beproposed as ordinary resolutions:Resolution 1 To receive and adopt the audited accounts of the Company for the yearended 31 December 2016, together with the Directors’ and Auditor’sreports thereon.Resolution 2 To appoint Grant Thornton to hold office as auditors of the Companyuntil the conclusion of the next Annual General Meeting at whichaccounts of the Company are presented and authorise the Directors tofix their remuneration.Resolution 3 To re-appoint Tim Crowley as a Director who retires by rotation as thecommencement of the 2017 Annual General Meeting and submitshimself for immediate re-appointment to the Board.order of the BoardPhilip ScalesCompany Secretary12 January 2018
Gold or Silver
07 Dec 2017
[email protected] Metro Baltic Horizons v James and ors: acting for one of the defendants in a multi-million pound claim in the Isle of Man brought by a company with substantial property investments in Eastern Europe which were allegedly purchased as a result of breaches of fiduciary duty and conspiracy by the defendants.
Gold or Silver
03 Nov 2017
News Let`s hope Ronan & the Team are working for the shareholders Trust .Best of Luck Steve et A
Gold or Silver
30 Jul 2017
Come on Ronan A half year report would be nice.
Gold or Silver
04 Feb 2017
Re: Accounts and dividend www.metrobaltichorizons.com/Annual%20Report%2031%20Dec%202015.pdf
Gold or Silver
17 Dec 2016
Accounts and dividend Well we have differing views on this one.My view is that half a million .ie 5p is an interim .While we await the final case against the main culprits. Mr Kenny &Co .Come On Ronan .You have them by the KNACKERS .let`s squeeze tighter .And MaY
SpikeStar21
16 Dec 2016
MBH just seems to go on an on. only the lawyers making money
Gold or Silver
05 Nov 2016
Of Interest Thankyou Michael Green QCCompany: Metro Baltic Horizons v James and ors – This was a large company law case that would have been heard in the Isle of Man had it not settled. It concerned an AIM listed company formed to invest in real property in the Baltic states. The Company was suing the directors, investment managers and other advisors for losses it claimed to have suffered from the collapse in property prices. Michael was instructed by Gibson Dunn on behalf of the non-executive directors. And May
Gold or Silver
10 Oct 2016
Re: 11/ 11/ Update In the Isle of Man a temporary advocate’s licence may be issued upon satisfaction of certain requirements setout in section 17 of the Advocates Act 1995. These include that the proceedings “require knowledge andexperience of a nature not ordinarily available on the Island” and that they “are likely to be so lengthy that theywould impose unreasonable demands on the time and resources” of an advocate. These provisions wereconsidered in two decisions handed down in 2015. In Metro Baltic Horizons PLC v. James et al. (ORD 2012/61,31 July 2015, unreported) where the court was not satisfied that a 3 week trial together with pre-trialpreparation would impose unreasonable demands on the time and resources of an advocate, a licence wasissued pursuant to the first ground set out above, regarding knowledge and expertise. In reaching thisconclusion, Deemster Doyle applied guidance from the Court of Appeal in Carter v. Old Mutual International Isleof Man Limited (decision 3 April 2015, unreported) in which Tattersall JA stated that the test “is not whetherthere are some advocates who have the requisite knowledge and experience and are capable of conductingsuch litigation, but whether such knowledge and expertise is ordinarily available on the Island.”Still waiting Ronan And May
Gold or Silver
11 Nov 2015
11/ 11/ Update Dear Shareholders,In the past year your Board continued to make considerable progress in recovering shareholdervalue in the company. The board reached settlements with the Company's previous board andauditors that resulted in an aggregate cash payment of €3.5m (£2.925m).In September the board initiated a distribution to shareholders which by year end had resulted in adividend paid of €5.1m and a purchase of the Company’s own equity of €0.7m. Post year end afurther distribution of €0.46m and a purchase of the Company’s own equity of €0.08m.Our focus is now solely on continuing our case against the former advisors to the Companynamely Mr James Kenny, Mr Mart Habakuk, Metro Capital Management AS, Tolmain AdvisoryServices Limited, Mr Paul McGuinness, MG Capital Limited and McGuinness Investments OUand we expect these proceedings to come to trial in early to mid 2016 and the Board remainsconfident in achieving a successful outcome at trial.The Company has currently cash of circa €2m, including restricted cash held with the Isle of ManCourt pursuant to an Order for security for costs or with legal advisors.The Company does not intend to make further property investments and is further seeking tocontain the ongoing costs of operation. The Board will keep shareholders appraised on theoutcome of these proposed resolutions. As the company is no longer a listed entity we will seek inthe near future to make a grey market trading facility available.Ronan ReidChairmanMetro Baltic Horizons Plc26 August 2015
Gold or Silver
08 Aug 2015
Website updated 07/08/15.Come on Ronan , play us a blinder .
Gold or Silver
21 Jun 2015
Of Interest [link]
Gold or Silver
25 May 2015
Michael Green QC : Call date: 1987 | Silk date: 2009Company: Metro Baltic Horizons v James and ors This is a large company law case to be heard in the Isle of Man. It concerns an AIM listed companyformed to invest in real property in the Baltic states. The Company is now suing the directors, investment managers and other advisors for losses it claims tohave suffered from the collapse in property prices. Michael is instructed by Gibson Dunn on behalf of the nonexecutive directors
