Rich Energy drop Haas. No...Really. Seriously...
Discussion
As a slight aside from the F1 shenanigans (but still relating to Billy 'BS' Storey), I see RE is sponsoring a boxing match on the 27th July with the disputed logo clearly still on the posters and likely to remain so unless they are withdrawn tomorrow:
https://twitter.com/rich_energy/status/11507707631...
I'd take that, and all the logo still on the website and social media accounts, as meaning he has no intention of complying with the court ruling for it all to be gone by Thursday? This isn't just a contractual F1 dispute then, but a two fingers up to the courts who I imagine can react fairly swiftly. The money men must be going nuts at the prospect of the whole RE debacle imploding in this rather curious manner.
The meltdown continues.....
https://twitter.com/rich_energy/status/11507707631...
I'd take that, and all the logo still on the website and social media accounts, as meaning he has no intention of complying with the court ruling for it all to be gone by Thursday? This isn't just a contractual F1 dispute then, but a two fingers up to the courts who I imagine can react fairly swiftly. The money men must be going nuts at the prospect of the whole RE debacle imploding in this rather curious manner.
The meltdown continues.....
cookie1600 said:
As a slight aside from the F1 shenanigans (but still relating to Billy 'BS' Storey), I see RE is sponsoring a boxing match on the 27th July with the disputed logo clearly still on the posters and likely to remain so unless they are withdrawn tomorrow:
https://twitter.com/rich_energy/status/11507707631...
I'd take that, and all the logo still on the website and social media accounts, as meaning he has no intention of complying with the court ruling for it all to be gone by Thursday? This isn't just a contractual F1 dispute then, but a two fingers up to the courts who I imagine can react fairly swiftly. The money men must be going nuts at the prospect of the whole RE debacle imploding in this rather curious manner.
The meltdown continues.....
York Hall Leisure Centre, Bethnal Green - classy.https://twitter.com/rich_energy/status/11507707631...
I'd take that, and all the logo still on the website and social media accounts, as meaning he has no intention of complying with the court ruling for it all to be gone by Thursday? This isn't just a contractual F1 dispute then, but a two fingers up to the courts who I imagine can react fairly swiftly. The money men must be going nuts at the prospect of the whole RE debacle imploding in this rather curious manner.
The meltdown continues.....
cookie1600 said:
The meltdown continues.....
More teddies being hurled already this morning:https://twitter.com/rich_energy/status/11510305203...
You'd think he would take some legal advice and STFU with what's looming in the next couple of days?
Petrus1983 said:
cookie1600 said:
As a slight aside from the F1 shenanigans (but still relating to Billy 'BS' Storey), I see RE is sponsoring a boxing match on the 27th July with the disputed logo clearly still on the posters and likely to remain so unless they are withdrawn tomorrow:
https://twitter.com/rich_energy/status/11507707631...
I'd take that, and all the logo still on the website and social media accounts, as meaning he has no intention of complying with the court ruling for it all to be gone by Thursday? This isn't just a contractual F1 dispute then, but a two fingers up to the courts who I imagine can react fairly swiftly. The money men must be going nuts at the prospect of the whole RE debacle imploding in this rather curious manner.
The meltdown continues.....
York Hall Leisure Centre, Bethnal Green - classy.https://twitter.com/rich_energy/status/11507707631...
I'd take that, and all the logo still on the website and social media accounts, as meaning he has no intention of complying with the court ruling for it all to be gone by Thursday? This isn't just a contractual F1 dispute then, but a two fingers up to the courts who I imagine can react fairly swiftly. The money men must be going nuts at the prospect of the whole RE debacle imploding in this rather curious manner.
The meltdown continues.....
Some interesting revelations on the other side of the situation from Neville Watson, one of the RE shareholders named on the legal letter from HAAS:
https://racer.com/2019/07/15/insight-behind-the-ri...
“There’s facts and there’s what he says. I want to be really clear, until we get an injunction or get him shut out of those social media accounts that he’s set up and has the passwords to, he’s probably going to keep doing this stuff for a while, and they are not the views of Rich Energy and the majority shareholders, which is why we made that statement.”
“All that’s happened is we took steps to remove a CEO who didn’t like it and has gone nuts.”
https://racer.com/2019/07/15/insight-behind-the-ri...
“There’s facts and there’s what he says. I want to be really clear, until we get an injunction or get him shut out of those social media accounts that he’s set up and has the passwords to, he’s probably going to keep doing this stuff for a while, and they are not the views of Rich Energy and the majority shareholders, which is why we made that statement.”
“All that’s happened is we took steps to remove a CEO who didn’t like it and has gone nuts.”
cookie1600 said:
Some interesting revelations on the other side of the situation from Neville Watson, one of the RE shareholders named on the legal letter from HAAS:
https://racer.com/2019/07/15/insight-behind-the-ri...
“There’s facts and there’s what he says. I want to be really clear, until we get an injunction or get him shut out of those social media accounts that he’s set up and has the passwords to, he’s probably going to keep doing this stuff for a while, and they are not the views of Rich Energy and the majority shareholders, which is why we made that statement.”
“All that’s happened is we took steps to remove a CEO who didn’t like it and has gone nuts.”
There seems to be a basic disagreement as to who are the majority shareholders. They can’t both be right https://racer.com/2019/07/15/insight-behind-the-ri...
“There’s facts and there’s what he says. I want to be really clear, until we get an injunction or get him shut out of those social media accounts that he’s set up and has the passwords to, he’s probably going to keep doing this stuff for a while, and they are not the views of Rich Energy and the majority shareholders, which is why we made that statement.”
“All that’s happened is we took steps to remove a CEO who didn’t like it and has gone nuts.”
Whether they’re even talking about the same company is unclear (given the IOM entity and undoubtedly others).As Neville says, what’s needed is an injunction (or more importantly a hearing) to sort out the underlying mess of control.
ajprice said:
Coming soon to Judge Rinder 
No need, Judge Melissa Clarke has already set out the formal process and I imagine behind closed doors (i.e. social media) Whyte Bikes (ATB Sales Ltd) will be pressing for their money and finishing off Rich Energy Ltd, Staxoweb Ltd and Mr William Storey.The IoM Rich Energy company might have to step in at some point I guess to purchase any IP or rights (£1?) that are left and maybe they will continue with the strategy of trying to sell what has become a very dodgy brand name. I can't work out if all this enhances 'Rich Energy drink' going into the future or if it's worth cutting the losses and completely re-branding. I guess that's where Justin King's expertise will come in.
Edited by cookie1600 on Tuesday 16th July 10:24
cookie1600 said:
Some interesting revelations on the other side of the situation from Neville Watson, one of the RE shareholders named on the legal letter from HAAS:
https://racer.com/2019/07/15/insight-behind-the-ri...
“There’s facts and there’s what he says. I want to be really clear, until we get an injunction or get him shut out of those social media accounts that he’s set up and has the passwords to, he’s probably going to keep doing this stuff for a while, and they are not the views of Rich Energy and the majority shareholders, which is why we made that statement.”
“All that’s happened is we took steps to remove a CEO who didn’t like it and has gone nuts.”
Interesting quote, although doesn't really make sense. Wild Bill is the majority shareholder and is also the face of RE. Saying they aren't the views of RE is trying to save face.https://racer.com/2019/07/15/insight-behind-the-ri...
“There’s facts and there’s what he says. I want to be really clear, until we get an injunction or get him shut out of those social media accounts that he’s set up and has the passwords to, he’s probably going to keep doing this stuff for a while, and they are not the views of Rich Energy and the majority shareholders, which is why we made that statement.”
“All that’s happened is we took steps to remove a CEO who didn’t like it and has gone nuts.”
The 18th is the next milestone in the court proceedings. Expect some more waffle until then.
Andy S15 said:
Interesting quote, although doesn't really make sense. Wild Bill is the majority shareholder and is also the face of RE. Saying they aren't the views of RE is trying to save face.
There clearly isn't just one company in the mix here. It seems to me that Storey is the front man and possibly majority shareholder of the public front company, while the other stakeholders hold the majority of everything behind the scenes. It wouldn't surprise me if the others (the smarter people with all the money) have piled all the liabilities into the front company while the assets, such as they are, actually belong to something further back up the food chain, probably in some offshore companies. Storey is effectively being hung out to dry here. Petrus1983 said:
York Hall Leisure Centre, Bethnal Green - classy.
Boxing has to be one of the most contrived, corrupt sports (most of the time) within which some of society's less amenable characters circulate. So probably entirely fitting that they're throwing more of other people's money at this.
StevieBee said:
Petrus1983 said:
York Hall Leisure Centre, Bethnal Green - classy.
Boxing has to be one of the most contrived, corrupt sports (most of the time) within which some of society's less amenable characters circulate. So probably entirely fitting that they're throwing more of other people's money at this.
thegreenhell said:
It seems to me that Storey is the front man and possibly majority shareholder of the public front company, while the other stakeholders hold the majority of everything behind the scenes.
My thoughts too.The money people (the real power) now have to wrangle any rights, IP, product recipe, manufacturing, distribution, passwords etc. away from Rich Energy Ltd (or the other RE branded company Storey says he's passed it over to) and let the courts strip Storey personally of what's left - which is probably in a cocoa tin at his Mum's house. The money guys will always win because they just send the legal Rottweilers in and Billy isn't helping himself by basically showing the world he is personally liable for things like the court action by Whyte and now the potential £35 million for HAAS.
Wherever the real money to run RE Ltd and it's activities actually resides, he clearly can't get his hands on it and his shell, 'shopfront' organisation looks like a liability for him (not the money guys) from now on. Perhaps that's why he's playing out his final cards as he knows the end is coming, but he still wants the limelight and the 5 minutes of Twitter fame.
thegreenhell said:
There clearly isn't just one company in the mix here. It seems to me that Storey is the front man and possibly majority shareholder of the public front company, while the other stakeholders hold the majority of everything behind the scenes. It wouldn't surprise me if the others (the smarter people with all the money) have piled all the liabilities into the front company while the assets, such as they are, actually belong to something further back up the food chain, probably in some offshore companies. Storey is effectively being hung out to dry here.
Absolutely, however the Haas deal is with Rich Energy Ltd, of which William Storey owns a 51% share in and is the CEO. So right now, he is still the official voice of RE and the contact that Haas officially have to deal with - as much as the people funding the scheme behind the scenes may not like to admit right now. No one else in the RE sausage machine has the power or rights to oust WS from his position at the moment. It's still going to take a bit more time to all play out.Andy S15 said:
Absolutely, however the Haas deal is with Rich Energy Ltd, of which William Storey owns a 51% share in and is the CEO. So right now, he is still the official voice of RE and the contact that Haas officially have to deal with - as much as the people funding the scheme behind the scenes may not like to admit right now.
Just because he has 51% share, does that really mean he cannot be displaced or fired by the supervisory board?
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