economic justice

663 petitions

Update posted 2 days ago

Petition to John Smith

Regulators, urged to investigate the corrupt business practices of New World Resources.

Thirteen Thousand people could face imminent loss of their jobs and the shareholders to get nothing. Unless the Regulators, ESMA European Securities and Markets Authority, and the European Commission. Immediately step in to investigate the business practices and scrutinize all past and present company director's dealings, for being allegedly incompetent and failing to perform their duties in a responsible way for New World Resources/ OKD/ Karbonia S.A. AHG group is a majority 60% shareholder and owns 65% of the debt notes liabilities. They wanted to blackmail the Czech Government into giving money to keep the company going from a claimed false bankruptcy. AHG group allegedly wants to use the rules in their debt notes to take control over New World Resources . Management was unwilling to sell a large stockpile of their own produced coal which was worth more than a future given Czech government loan that remains mostly unused. Even on the company website of OKD, there it is written that AHG Group will keep “all stakeholders informed” including shareholders. But this is not the case at all for us shareholders and employees.All the regulators must investigate the fact that New World Resources owner of OKD and Karbonia S.A. Has always published the future contract prices for coking and there thermal coal products within the first few weeks of the year when they set the price for their customers. Or set new contacts over each quarter of the year as it's common practice in the coal industry. All coking and thermal coal pricing have been omitted and we the shareholders and employees are being deceived and mislead with false information.On the 3rd of May 2016, Management alleged incompetent directors decided in an internal meeting to put the company in a “Bankruptcy Petition” and this forced on our shares the, Suspension of all traded shares.The Czech Government later in May 2016 appointed an Administrator Insolvency trustee:ING Lee Louda Vodickova 41, 110 00 Prague 1 Guarantor of New World resources.The regulators must ensure the recent dealing of the AHG owner of M&G Debt opportunities Fund II over trying to force a liquidation to be stopped. And stop the 11 Oct 2016, AHG security agent Citibank S.A from selling company assets in Poland, Karbonia S.A. As we question the validity of this illegal and unauthorized transaction. Also 17 Oct 2016 Explanatory Liquidation Circular contains many dishonest and deceiving statements sent to shareholders for this uncalled for 3rd November 2016 General meeting. (coking coal up 100% not true it's up over 300% since Nov 2015) We also humbly request that the current OKD Management, Insolvency Administrator and the Creditors Committee, Supervisory board, through the Czech Court with urgency re-evaluate and make a new reorganisation plan that reflects the present day coking and thermal coal prices. And we ask OKD that they really must upgrade and use present day future long-term forecasts for coal prices to reflect the recent massive price increases. Therefore it would be a prudent move for OKD to re-examined its own coal reserves so they can be upgraded and then to re-issue a new plan showing a much longer life for it's own coal mines. We are reluctant and sorry to tell you that we the minority shareholders feel that the Creditor Committee has only a closing down plan for OKD like Paskov. And we beg and ask you, Please do not close down our highly profitable coal mines. The Regulators, ESMA European Securities and Markets Authority, and the European Commission must ensure  what the proprietor has claimed and the validity of their unwarranted “Bankruptcy petition”, and investigate all their business practices and scrutinize all director’s dealings especially former shadow director Zdenek Bakala. We the shareholders do have rights too. The company of New World resources is now making massive profits as of the early October 2016 coking coal contracts have settled at multi-year highs not seen since late 2011 of $200US/180Euro dollars a tonne. And thermal coal prices have now over doubled in price since the start of 2016 . ( See links below) The Regulators, ESMA European Securities and Markets Authority, and the European Commission, must intervene urgently and we the shareholders ask for the immediate suspension of shares to be released and this unwarranted bankruptcy petition to be removed and this illegal liquidation to be stopped as it has never been authorised by the Administrator or passed by the Ostrava regional court who is presiding over all legal matters relating to New World Resources.  The Czech Government and Courts, Czech Authorities CNB, Administrator Lee Louda, OKD Creditor committee and Supervisory board are allegedly using and making fabricated documents to use thievery to steal and cheat us out of our minority shareholding of New World Resources PLC that owns 100% of OKD. Please we are humbled and we beg you to help us the European Commission. We the people who have signed this petition lastly proclaim that OKD is now solvent. So therefore OKD can not be bankrupt or insolvent.   -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- NWR  assigned liquidators can be contacted or send complaint here. I have sent a complaint on behalf our all people who signed this petition. Mark Skelton, Geoffrey Bouchier and Paul Williams of Duff & Phelps B.V., Rembrandt Tower, Amstelplein 1, Amsterdam, Netherlands 1096HA : : :  -European Securities and Markets Authority (ESMA) . I have wrote a letter that included our petition signatures. Because I was not happy with the response and inaction from the Czech Regulator (CNB). I Recommend all shareholders of NWR that the ESMA is now the most important place for us  all to complain to next. Please send your formal complaint email/letter to the ESMA requesting further actions and a investigation. Please also do not forget to add a link for our Petition to your email.  Note: My Email/Letter is my opinion and everything I have written is alleged.  - Minority NWR shareholders you must it's "urgent" complain to the European commission (17 June 2017). We the minority shareholders are being deceived and treated like we are criminals. Shareholders laws are in place to protect our rights in the Euro Zone. Please add and send copy of our petition Update 10 Jan 2017 I received an email reply from the Czech Ombudsman, I regret to report that they are only recognising complaints from “Czech citizens”.Please complain about the inaction over OKD from the Czech CNB regulator. The proposed closing down of all OKD coal mines by creditors committee, Administrator and alleged Czech Government or anything else you think is relevant in the Czech Republic. And please make sure you add this Petition's link in your email. – We the shareholders of New World Resources, have a obligation to complain about Mr Zdenek Bakala just like Pavol Krupa. Please add and send copy of our petition.  - Please note you can only complain if your a citizen of a Euro zone member. Please complain about CNB and maybe if your also willing about the Czech Government around the handling of the current situation of OKD/NWR. Please add and send copy of our petition  . We the minority shareholders legally own part of New World Resources that owns OKD. Well I have complained may times to they don't even answer or reply. Regulators must take action!. -31 Dec 2011 report, NWR/OKD “Life of the mines plan” shows continued production for all coal mines until 2030. - 9th Aug 2013 OKD own website has Karvina and CSA site extending the mines production of coal until 2035!. -31 DEC 2013 NWR/OKD 65% decrease of saleable coal reserves. Note: The decrease relates to the downward adjustment of company's long-term coal prices. Coking coal prices are now at all time record high's in Euro dollar terms for Q1 2017. - 30 NOV 2015 My personal email written to New World Resources in regards to Payroll Tax Deferral in talks with the Czech Government. The email has a verified confirmation that is was received and passed on to management at NWR/OKD. Some of the information is here: - 18 Dec 2015 NWR Strategic Review Process note this report is now irrelevant. Due to fact that coal prices are very high now and economics are equal or even surpass the figures indicated in the past 2011 report. -Monday 18 April 2016 China restricts the legal working days to 276 days per year. No weekend work for all Chinese coal mines/miners. Well here is the real story of how and why the Coking and thermal coal prices have had this unprecedented rally in 2016. The answer is China!. And we thank you so very much the Chinese Government.  -OKD Bankrupt Petition p10 on 31 March 2016. OKD own coal inventories/stockpile of coal prove that if sold prior to this “Bankruptcy Petition" it could have all been avoided. And this petition was dishonestly ,falsely and unwarranted called for by the company Directors and you could assume under the majority shareholder AHG Group orders. OKD Coal inventory was over 1.3 million tonnes in 2012. 2nd May 2016: Reuters reports "AHG group offers to sell NWR for 120 million euro to the Czech Government and the write off 450 million debt leaving 115 million euro debt to repay - Adobe Reader only. The parts highlighted in Yellow are the most important to read. 3rd May 2016 OKD Bankruptcy Petition - Regional Court in Ostrava under file No. B 2900.  Allegedly dishonest and falsely issued over OKD. - -10 Oct 2016 Q3 3rd Quarter 2016 benchmark deal Peabody coal settled mid-vol Coking coal contract at $200/Mt FOB up from the previous Q2 pricing of $92.50  - 24 Oct 2016 Large Thermal coal contract for  6300Kcal thermal coal settled at $94.75/ 87Euro for the period of one year starting October 1, 2016 through to September 30, 2017. - 1st Nov 2016 Newcastle thermal coal price peaked at $115  -6 Nov 2016 investicniwebdotcz OKD loan proof that only 150 million CZK has only been used or drawn down of the Czech Government loan. Paskov no formal request has been given to the Czech Government for money to help the 1600 employees.  -Tuesday 8 Nov 2016 Coking coal peaked at $315 US dollars tonne. – 11 Nov 2016 Good Chart showing 300% increase of Coking coal price in 2016. - November 2016 OKD closing down report all highly profitable mines to be closed down by 2023. Paskov will be closed down on 31 March 2017. Paskov produces coking coal price is now at highest ever recorded in euro dollar terms. Shame on you!. - 12 Dec 2016 Mid-Vol Coking coal contract for Q1 2017 settled at $285US/269Euro a tonne. NWR/OKD cash costs per tonne previously forecast at 65Euro or without Paskov at 60Euro but it's now possible for cash costs to be even lower than expected. - Please use this link to follow my latest updates and for much more information. -OKD own website displays the majority owner AHG Group.

John Smith
112 supporters
Update posted 3 days ago

Petition to Gladys Berejiklian, John Barilaro, Anthony Roberts, Andrew Constance


For far too long there has been a serious imbalance in State Government  spending when it comes to vital infrastructure in the bush. While the cities repeatedly get billions of dollars spent on upgrades to their public transport systems and tollways, in some regional areas, there are no regular bus or train services. This gross imbalance in spending needs to be rectified. In Tottenham we have been lucky enough to be given a new weekly mini-bus  service, but other country towns are still missing out. In 1974, several passenger services on branch lines were closed down and when that happened dozens of small rural towns scattered along those lines, like Tottenham, Tullamore, Bogan Gate and Trundle went into economic 'free fall'. We urgently need to reverse this ongoing trend - where businesses are closing down, streets are lined with empty shops and people are making a mass exodus to the coast to look for work. The way to stop this from happening is simple - we need to reinstate daily  passenger rail services on all branch lines. Across the UK, modern, state-of-the-art one and two carriage pacer trains keep small communities connected with regional centres. We need to do the same thing here in NSW if this State is going to grow and prosper.  The time for spending the majority of the infrastructure budget on Sydney is over. The NSW Government needs to look after the whole State, not just towns on the eastern seaboard. There is a new tech minerals mine being opened up at Fifield which will be generating hundreds of new jobs, but without public transport it will be very difficult and very expensive for those people to commute to work every day. On top of this, there will undoubtedly be new industries being established along the Bogan Way which will want to take advantage of the resources the mine produces and the people working in those factories and distribution centres will also be looking to access affordable public transport. We also have an aging community in the west. We also have many young families in the bush who cannot afford to run a car, or for some reason, no longer drive. We have people who would like to be able to commute to a job in a nearby regional centre, so they can buy an affordable house and raise a family. We need to provide public transport options for all these people which is cheap and easy for them to use on a daily basis. Reinstating passenger train services on branch lines, many of which are currently under-utilized, like the Tottenham Branch Line, is the most practical way of fixing this spending imbalance and will generate massive economic and population growth in the bush.  At a time when 'Decentralisation' and the 'Central West and Orana Regional Plan' are being discussed, it is pretty obvious that if the Government is really serious about stimulating the economy in the Central West over the next twenty years, then public transport infrastructure needs to be an essential part of any future planning strategy.  You can't expect people to commute via car every single day, when fuel is so expensive. However in the report released recently by the Hon Anthony Roberts MP, public transport infrastructure barely got a mention. This oversight needs to be rectified. . (Pictured is a 144e two-carriage Pacer Train which is ideal for use on branch lines in the Central West.)  

Sarina Sharp
19 supporters