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http://www.slcapex.com/forums/topic/LCA/1846
On 5/5 Scott Nestler asks Lindsay, Chairman of LCA, to talk to the Shareholders about LCA
On 5/9 07:46 SLT Lindsay opens on the defensive stating that the land deal Sully O’Kelly, CEO of LCA, was unauthorized and was a bad deal. Lindsay continues on stating that she has narrowed the search radius of her missing CEO to 50 miles and the local authorities are assisting.
After 3 days, and 37 posts in CapEx, and I am sure another 20 emails in pvt, the big announcement is made
http://www.slcapex.com/forums/topic/LCA/1884
5/13 Lindsay announces that LCA is filing Bankruptcy
5/14 Lindsay announces that "LCA assumes the debt and closes its doors because of it"
http://www.slcapex.com/forums/topic/LCA/1884?page=2
Scott Nestler hammered away at Lindsay to the point where she admits "There is no possible way to actually FILE bankruptcy for LCA. I would think that would be an understood but fine....I would change the name of the thread if I could"
24 posts in less than 24 hours and the end result is nothing.....
Last we heard, Nestler and Druart were negotiating a payout plan, Lindsay has LLL, the L&L Real Estate Company selling plots on the sim that was acquired by Nestler for LCA.
LLFS gets swept up in the wake of the disappearance of Sully and the financial mess of LCA LLFS, the only other L&L Company trading at CapEx has a shocking announcement...
Closing Operations
http://www.slcapex.com/forums/topic/LNL/1885
5/13, almost the same minute that LCA's bankruptcy is announced Lindsay Druart announces the Closing of L&L Financial Services, formerly L&L Bank and Trust
"In the wake of the bankruptcy of L&L Credit Reporting and Business Services, I have decided to close L&L Financial Services as well. Independent operations will be ceased immediately"
The day after was a flurry of activity, 100 posts in 24 hours
Here are some of the highlights:
Lindsay tells the public that there will be no shareholders meeting due to time restraints, even though it's pointed out that she does NOT own a majority share of the company
After public outcry about Lindsay being a minority shareholder she conceded to a shareholder meeting, September 22nd....4 months from now
Scott Nestler notes to Lindsay that the shareholder meeting was supposed to be held back in February and was never rescheduled.
Lindsay concedes to keep LLFS open till the meeting, in September "The Company can stay in stasis until I have time for a shareholders meeting to officially close operations"
Scott Nestler volunteers to pay for SL Financial Reporting Group to audit the books of LLFS
After pressure Lindsay states "Auditing is not needed. If I was closing because of a monetary issue then maybe but it's not. I have other plans that will be discussed with the majority shareholders when I have finalized the numbers.
And I never said the bank account was empty...."
So if the bank account isn't empty why announce a closing of the company? Was this announcement premature?
In a cry of rage against those that want a shareholders meeting this week and not in 4 months, Lindsay states in the open forum "You want a shareholder meeting?? You think I am going to sit in SL and listen to this same stuff that is being said here right now?
THIS IS YOUR SHAREHOLDER MEETING! Have at it...."
Later that day Cayman Beaumont makes an offer "I'd like to make an offer for your 20.2%, which would of course mean that I receive control of ALL of LNL assets. I agree it may be impossible to resolve this matter without your agreement, but please consider that you own only 20% of the company."
Lindsay responds less than a minute later "I am not and will not sell my stake in my own company that I built with my hands. And don't say your money because very few of the shareholders now purchased shares during IPO or SPO for that matter."
Towards the end of the thread Cayman Beaumont posts the internal communication between Lindsay Druart and a select few large investors.....later that day he deleted the post.
To what end was all the flurry of communications?
What will become of the once vast and formidable L&L companies?
Have they been reduced to nothing more than the 6 Sims and a large debt that they will never recover from?
There are millions on deposit still in LLFS and no end in sight for the depositors.
So the question is, should LLFs and LCA be saved or left to fade away........
---------------------------------------------------------------------------------------------------------------------------- Tyrian Camilo Comment on LL
Lindsay Druart has finally admitted to the bankruptcy, and it has happened, no additional information has been posted so far: http://www.myllbt.com/home/story/system/151
As usual, she is vague, and has the cash for everything else except paying her liabilities. As per our last financial report we are out 55 180.61L$, but in reality around 550,000L$ as the shares had around 10% of face value remaining.
We tried to get out since November/December, with no luck.
Yours,
Tyrian Camilo
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