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Gold/Mining/Energy : Ness Energy International -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (349)

4/7/2012 10:27:16 PM

From: Glenn Petersen

Read Replies (1) | Respond to of 364

From the Israel Oil Forum (Part 2):

israeloilforum.com

Posted: Oct/25/2011 at 4:59pm

good to hear from you joe.

the best and shortest way to explain what is going on is this...

alpha capital loaned ness energy some money. ness defaulted on paying it back. sha wanted out and transferred the ownership to alan stricklin. times prior there was some activity with a company in Israel that ness had a part of called modiin. there was some things that happened that could be beneficial in Israel court to get a reversal or a piece of the pie. since ness Israel was supposedly part of ness international and ness defaulted on the loan to alpha, alpha considered all of ness theirs do to it would be all to pay back the loan. but there was nothing of value in the company to satisfy the amount of the loan. but when the modiin issue was uncovered, then suddenly alpha pursues legal action against ness. they needed the certificates that showed ness Israel existed and they could use them to go after the modiin issue. it could be worth a good chunk of change if the Israel courts agree that when ness Israel had a stake in modiin and somebody did something illegal, they could benefit financially. but mr boyce says that the amount that could be recovered is worth more than the debt, so therefore he asks court not to give entire package to alpha. also boyce says the way that law says would have to take place has to follow new york state law due to alpha based there in this ordeal. then when stricklin was ordered to give the so-called certificates that said ness Israel on them, he couldn't find them in all the stuff he was given when he took over. we found out later that sha was holding the cert(s) and boyce ended up with them. the court case will look at a few things to determine. but as a ness shareholder, I think the first issue is how sha could hold the cert when he was to give everything over to stricklin and step aside from running the company. then still hold something and give it over later. so in essence, he witheld something that alpha claims should be theirs because it was frozen by courts as part of any worth to pay back loan.

so some want to know if the shareholders had any stake in ness Israel that was held by the parent company ness energy international. alpha claims it was, and some testimony up to this point is sketchy. we will have to wait for the courts to decide what may have been done illegally or not.

if you didnt know, that alpha capital is owned by a billionaire. the second link will give the scoop on the modiin realm.

http://www.haaretz.com/news/international/haaretz-report-on-jewish-billionaire-schlaff-stirs-up-austrian-media-1.313546

http://www.globes.co.il/serveen/globes/docview.asp?did=1000595624