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Qihoo 360 Technology Co. Ltd. Message Board

zalm_met_viagra 7 posts  |  Last Activity: Aug 15, 2014 9:55 AM Member since: Dec 12, 2003
  • Reply to

    $100 only in rearview mirror

    by zalm_met_viagra Aug 15, 2014 9:42 AM
    zalm_met_viagra zalm_met_viagra Aug 15, 2014 9:55 AM Flag

    bye bye $101, see ya

  • Reply to

    Going back to 92$

    by bronzechair720 Aug 15, 2014 9:45 AM
    zalm_met_viagra zalm_met_viagra Aug 15, 2014 9:48 AM Flag

    wrong again $100.33 as we spwak

  • zalm_met_viagra by zalm_met_viagra Aug 15, 2014 9:42 AM Flag

    Heading north, valuation security business on fire

  • zalm_met_viagra by zalm_met_viagra Jun 27, 2014 3:38 PM Flag

    On tradewinds:

    Nobu Su smacks Vantage with huge $8bn counterclaim

    Taiwanese shipowner is seeking enormous sum in damages against the Houston driller in a Texas fraud lawsuit

    Nobu Su has shot back at Vantage Drilling in a big way, lodging an $8bn counterclaim against the company in which he is the largest shareholder.

    The founder of shipowner Today Makes Tomorrow (TMT) argues through lawyers that he did not defraud the drilling contractor as previously alleged. Rather, Vantage’s founding executives duped him into handing over contracts for four jack-up rigs and two deepwater drillships, Su’s legal team claims.

    Vantage, chief executive Paul Bragg, chief administrative officer Chris DeClair and general counsel Christopher Celano did not have “the means or ability to uphold their promises and they knew it when they told Mr Su that Vantage could do so,” wrote Joseph Slovacek, the Hoover Slovacek lawyer representing the Taipei-based shipowner.

    “Mr Su has been forced to file this suit to bring these injustices to light and recoup what has been stolen from him because none of these individuals have ever told the true story. That ends today.”

    Numerous avenues

    Slovacek says the $8bn damages figure includes the value of the drilling units, two key drilling contracts and money spent by Su’s companies for Vantage’s benefit, as well as damage to Su’s other companies and punitive damages.

    Still, he said it will be up to a jury to decide the final figure.

    Robin Gibbs, the Gibbs & Bruns lawyer representing Vantage, says the company believes the counterclaims are without merit and plans to vigorously fight the allegations.

    Su’s counterclaims are a response to a lawsuit filed in a county court in Houston, Texas, by New York-listed Vantage in 2012 alleging that Su breached his fiduciary duty to obtain his 102 million shares in the driller, which amounts to about 33% of the company.

    The competing claims paint two very different pictures of the deal for four jack-up rigs an

  • Reply to

    Bad News

    by zd60610 Jun 27, 2014 11:16 AM
    zalm_met_viagra zalm_met_viagra Jun 27, 2014 12:13 PM Flag

    Nobu Su smacks Vantage with huge $8bn counterclaim

    Taiwanese shipowner is seeking enormous sum in damages against the Houston driller in a Texas fraud lawsuit
    Nobu Su

    Nobu Su

    Nobu Su has shot back at Vantage Drilling in a big way, lodging an $8bn counterclaim against the company in which he is the largest shareholder.

    The founder of shipowner Today Makes Tomorrow (TMT) argues through lawyers that he did not defraud the drilling contractor as previously alleged. Rather, Vantage’s founding executives duped him into handing over contracts for four jack-up rigs and two deepwater drillships, Su’s legal team claims.

    Vantage, chief executive Paul Bragg, chief administrative officer Chris DeClair and general counsel Christopher Celano did not have “the means or ability to uphold their promises and they knew it when they told Mr Su that Vantage could do so,” wrote Joseph Slovacek, the Hoover Slovacek lawyer representing the Taipei-based shipowner.

    “Mr Su has been forced to file this suit to bring these injustices to light and recoup what has been stolen from him because none of these individuals have ever told the true story. That ends today.”

    Numerous avenues

    Slovacek says the $8bn damages figure includes the value of the drilling units, two key drilling contracts and money spent by Su’s companies for Vantage’s benefit, as well as damage to Su’s other companies and punitive damages.

    Still, he said it will be up to a jury to decide the final figure.

    Robin Gibbs, the Gibbs & Bruns lawyer representing Vantage, says the company believes the counterclaims are without merit and plans to vigorously fight the allegations.

    Su’s counterclaims are a response to a lawsuit filed in a county court in Houston, Texas, by New York-listed Vantage in 2012 alleging that Su breached his fiduciary duty to obtain his 102 million shares in the driller, which amounts to about 33% of the company.

    The competing claims paint two very different pictures of the deal for four jack-up rigs and two drillships at the centre of the bitter dispute.

    For example, Vantage alleged that Su told its founders that his Mandarin Drilling affiliate had already made a 30% down payment on the ultra-deepwater drillship Platinum Explorer (built 2010) and owed 70% upon delivery from DSME in South Korea.

    But, in the counterclaim, Su alleges he told Bragg he had a “handshake agreement” with DSME to pay the first 20% in 5% instalments and the remaining 80% upon delivery. Three options had the same terms. Slovacek writes that there is no written documentation to back Vantage’s assertion.

    Su also claims the executives did not disclose their “checkered past”, namely Bragg’s exit from drilling giant Pride International after that company became embroiled in a bribery scandal.

    He also alleges, for example, that the Vantage executives committed misrepresentation when they assured him that the company had secured a $440m credit facility to help pay for the transactions.

    But Vantage alleged in its 2012 lawsuit that the deal fell through when Su finally revealed the true payment terms in his agreement with DSME for the drillship, and that only one 5% payment had been made rather than the 30% down payment.

  • Reply to

    Bad News

    by zd60610 Jun 27, 2014 11:16 AM
    zalm_met_viagra zalm_met_viagra Jun 27, 2014 12:02 PM Flag

    $8 bn counterclaim

  • Reply to

    Statoil - Ocean Vanguard

    by dgoss98 Jun 4, 2014 7:29 PM
    zalm_met_viagra zalm_met_viagra Jun 6, 2014 4:43 AM Flag

    Tuesday wrote Offshore.no that the group has terminated the agreement on leasing the rig Ocean Vanguard. With eight months left on his contract, this is a dramatic case and rig owner Diamond Offshore contests as well that the group can cancel the agreement.

    In agreement Statoil on Ocean Vanguard shall pay $ 454,000 every day. Cut-off contract now, the rig company missed rental income of 648 million.

    Read the cases:
    Statoil cancel rig contract
    Will fight for rig deal

    Neither party has given the reason that the group will end the tenancy now.

    However, a number of industry sources Offshore.no has been in contact with points to several reasons. Poor standard with deficiencies, as well as much downtime is part of the reason but not the precipitating cause.

    The most serious is that the dampers on the rig has been a big issue between the parties.

    Statoil will require automatic fire dampers, while the rig does not have this. It should have been working to fix this without the group was satisfied.

    Well-functioning fire dampers shall prevent both fire, smoke and toxic gases can spread aboard on the whole rig.

    According to the regulations of the fire damper units be automated.

    "Fire dampers shall be automatic. In addition, they shall be operated (opened / closed) from the control and locally from both sides of the division they are placed in. It should be indication of the actual position (open / closed) of fire dampers, locally and in the control station. The fire dampers shall be certified according to IMO Resolution A.754 (18) or equivalent, "said the regulations concerning fire safety and explosion on mobile offshore units.

    - This is an absolute requirement to rigs on the Norwegian continental shelf. If the rig does not have this, you must apply for a dispensation where compensatory measures ivartar safety as well.

    It says press officer in the PSA Øyvind Midttun to Offshore.no.

    He confirmed that Diamond Offshore has applied for and been granted an exemption to operate without automatic fire dampers earlier this year.

    Midttun emphasizes that fire safety is something that is essential to the regulations.

    - There is a very good reason why this is an absolute requirement in the regulations. It is the owner's responsibility to ensure that the organization, management and the technical condition at all times in accordance with the regulations.

    AOC (AoC) is a statement from the PSA that expresses the authorities' confidence that petroleum activities can be carried out using the facility within the regulatory framework. Ocean Vanguard received AOC ten years ago.

QIHU
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