If the board is incurring debt and loaning money against frozen bank accounts with no guarantee of the ability to repay those loans - that’s textbook recklesss trading and almost certainly illegal
Andrew Get Outlook for iOS<https://aka.ms/o0ukef> ________________________________ From: JORDI PALET MARTINEZ via Community-Discuss <[email protected]> Sent: Sunday, July 25, 2021 1:12:37 PM To: Community Discuss <[email protected]>; members-discuss <[email protected]>; chair <[email protected]> Subject: Re: [Community-Discuss] [members-discuss] Update on legal case The NRO, manages a fund, if I recall correctly, contributed by the 5 RIRs, in order to secure sustainability/stability of any RIR in case of contingencies. I guess this is a contingency that can apply to that fund, so a “loan” can be provided to pay any operational expenses while the AFRINIC accounts are frozen. So, no magic to obtain fund to continue operations, and in such way that no new court orders could froze them again, because is not “AFRINIC” money, and don’t need to pass by the AFRINIC accounts. Regards, Jordi @jordipalet Greetings to all While we respect that AFRINIC just held a meeting on the issue, can we expect sooner or later a report from the registry about how the meeting went? And most especially, I think the community deserves clarity about the identified "alternative means" as we would all like to know more about these projected financial actions. I hope that we can observe more efforts from AFRINIC to ensure transparency on its decisions and on whatever action it may choose to commit. Respectfully, Christian On Sun, Jul 25, 2021 at 1:34 PM Paul Wollner <[email protected]<mailto:[email protected]>> wrote: Dear Chair, Would you care to share with the community where this alternative source of funding is coming from? Are these funds coming from other AFRINIC reserves? How will this impact the day to day operations in AFRINIC? Regards Paul Wollner ---- On Sat, 24 Jul 2021 18:25:40 +0200 <[email protected]<mailto:[email protected]>> wrote ---- Dear AFRINIC Members, AFRINIC has been notified by one of its bank that its accounts have been temporary frozen due to legal action by Cloud Innovation Ltd. AFRINIC has not yet received the relevant information on this matter showing the basis of Cloud Innovation Ltd's claims, and AFRINIC has not yet been given the opportunity to respond to this action. It will, at the first opportunity, exercise all legal rights available to it before the Court. The Board of Directors held an urgent meeting last night. It identified alternate means of funding so that the company can cover the financial expenses incurred to run its services. Regards, Subramanian Moonesamy Chairman, AFRINIC Board of Directors _______________________________________________ Members-Discuss mailing list [email protected]<mailto:[email protected]> https://lists.afrinic.net/mailman/listinfo/members-discuss<https://lists.afrinic.net/mailman/listinfo/members-discuss> _______________________________________________ Community-Discuss mailing list [email protected]<mailto:[email protected]> https://lists.afrinic.net/mailman/listinfo/community-discuss<https://lists.afrinic.net/mailman/listinfo/community-discuss> _______________________________________________ Community-Discuss mailing list [email protected] https://lists.afrinic.net/mailman/listinfo/community-discuss<https://lists.afrinic.net/mailman/listinfo/community-discuss> ********************************************** IPv4 is over Are you ready for the new Internet ? http://www.theipv6company.com<http://www.theipv6company.com> The IPv6 Company This electronic message contains information which may be privileged or confidential. The information is intended to be for the exclusive use of the individual(s) named above and further non-explicilty authorized disclosure, copying, distribution or use of the contents of this information, even if partially, including attached files, is strictly prohibited and will be considered a criminal offense. If you are not the intended recipient be aware that any disclosure, copying, distribution or use of the contents of this information, even if partially, including attached files, is strictly prohibited, will be considered a criminal offense, so you must reply to the original sender to inform about this communication and delete it.
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