Banro Corp. fka BAA

[kpisme]

Warnings from idiotic blowhards with continuous insults which loss their investments mean nothing to anyone, some forgot that..

Ditto....

Ditto...

Like I have always said I have patience. Sow the wind, Reap the whirlwind.

[StockItOut]

Fair enough.
One sides with oneself.

[trunkmonk]

Really, is that how it works even if true? Only a moron would side with that.

[StockItOut]

You were well-in-advance advised you were lied to.

[StockItOut]

Banro.com website is down, not loading.

[StockItOut]

Yes, ‘they’ were useful, helpful too...

[StockItOut]

thanks for the post

[StockItOut]

Oh… the Banro law suite. Brilliant!

Did the suite (suit) settle and now your Banro shares which Banro sold for you, at zero, will your BAA shares now be returned to you, so you can keep holding LONG and STRONG?

Or is the suite your only hope and prayer? All the warnings provided to you, but your ego more valuable to you.

You still may be right in the end, yet the end of this Banro story, and resolution to your LONG and STRONG BAA shares, is a couple years out, likely.

[kpisme]

I didn't preach, I just said my thoughts just like you did when you PUMP'd BAA UP.

I just didn't give out all the BS crying while you loss money on the SELLS.

I believed in what was said by many including you in the beginning and thought there was a possible come back only to find out we were lied to.

Now the lawsuit will pay THEM back.

[BAA_Up]

Kpissme...Is this the new management that you preached to us?

[BAA_Up]

I thank you very much How can I get shares of this great company?

[kpisme]

https://www.banro.com/news-events/news-releases/banro-corp-appoints-new-chairman-and-chief-executive-officer

CYA JOHN!

[Ultimate Justus]

email vom Banro Anwalt U.S.

[trunkmonk]

Interesting, I did work in Tower 7. It’s where Silverstein properties is located and has a showroom overlooking the towers and Museum.

[nagoya1]

Thanks again (sarc font) for posting those BAA lawsuit "sources".

BAA

[nagoya1]

http://securities.stanford.edu/filings-case.html?id=106526

[kpisme]

http://lmgtfy.com/?q=Banro+corp+law+suite

[StockItOut]

So post a couple links, some search terms, etc, already. Name the two firms, etc. Why so coy?

[StockItOut]

“Money bags are fixing to be opened.” Maybe you’ll be right one of these days.

[MsCoffeenut333]

Shareholders will not give up with out a fight!

[Elevation]

I didn't necessarily provide the news. It's on the internet. It's public information

[nagoya1]

That's something a lot more "concrete" than just shoes.
BAA

Thanks for providing some law related BAA news.....

[Elevation]

Banro "links" are only what the company wants to public. If you dig, you will see that at least 2 law firms are going after Banro. A lawyer isn't going to waste their time on a case if they think it's no good

[kpisme]

how about some concrete shoes?

The company is dead and the money bags are fixing to be opened for payouts.

[nagoya1]

Do you have any links to indicate any of those comments...

It would be helpful, btw, I posted something that can be verified.

Thanks in advance should you include any "concrete" info.
BAA

[Elevation]

Management knows they're screwed. They are trying to pretend that everything is Ok with these announcements. Behind the scenes they are pleading with their lawyers to keep this in Canada when they committed crimes in the US. Attorneys and judges are paying attention to their responses.

[BAA_Up]

So it was to be expected

[nagoya1]

Banro Announces Effectiveness of its Recapitalization Plan and Intent to Terminate Registration under Securities Exchange Act of 1934 with the U.S. Securities and Exchange Commission

Toronto, Ontario, May 3, 2018 – Today, Banro Corporation (the “Company”) announced the effectiveness of its Amended Consolidated Plan of Compromise and Reorganization (the “Recapitalization Plan”), which, as previously announced, was sanctioned by the Ontario Superior Court of Justice (Commercial List) on March 27, 2018 in connection with the
implementation of the Recapitalization Plan and the Company’s emergence from protection under the Companies’ Creditors Arrangement Act (“CCAA”). Upon effectiveness of the Recapitalization Plan, all of the Company’s existing equity and any and all equity related claims were cancelled.

Furthermore, pursuant to an order from the Ontario Securities Commission, as of the effective time of the Recapitalization Plan, the Company ceased to be a reporting issuer in each jurisdiction of Canada in which it was a reporting issuer.In connection with the effectiveness of the Recapitalization Plan, the Company intends to file a Form 15 with the U.S. Securities and Exchange Commission to voluntarily terminate the
registration of its equity securities under Section 12(g) of the Securities Exchange Act of 1934, as amended.

Banro Corporation is a Canadian gold mining company focused on production from the Twangiza and Namoya mines, which began commercial production in September 2012 and January 2016 respectively. Banro’s longer-term objectives include the development of two additional major, wholly-owned gold projects, Lugushwa and Kamituga. The four projects, each of which has a mining license, are located along the 210 kilometres long Twangiza-Namoya gold belt in the South Kivu and Maniema Provinces of the Democratic Republic of the Congo (“DRC”). All business activities are followed in a socially and environmentally responsible manner.

https://www.sedar.com/search/search_form_pc_en.htm

[BAA_Up]

But he writes to the right address, even if he says nothing

[StockItOut]

Nice work.

[nagoya1]

Thanks,
BAA

[Elevation]

Here's a short summary. Sources say multiple law firms are going after BAA. Not just the one you are reading about on this board.

[StockItOut]

He plays both sides , arrogance , innocence.

[nagoya1]

Glad to hear that you know what's going on.
Would it too much to ask for a brief summary...
Thanks in advance.
BAA

[Elevation]

Yes. I know what's going on.

[nagoya1]

Does anyone know what's going on with the courtcase.
Thanks in advance
BAA

[Masterview]

Oooh Myyyy, that’s the way i like it.

[Elevation]

Banro is arguing to keep this in Canada. However the Canadian judge is asking for outside assistance?

[Elevation]

The Canadian judge? You're saying the judge used to be a lawyer?

[StockItOut]

Surprising to see Canadian judge hand it to Banro so readily. Seems such a weak argument, from a lawyer turned judge. Lepard filed when he did for a reason which seemed tied timing wise in correlation to Canadian CCA process. I imagine a positive common-class Canadian outcome was sought too.

[StockItOut]

Theirs did.

[Elevation]

Suit was filed in US court. Stock was traded in NYSE. Us law applies. A lawyer isn't going to waste his time on a case that isn't any good.

[StockItOut]

U.S. Courts may see it differently, such that Lepard’s class action will proceed under United States jurisdiction. Canadian Court (Judge Hainey) concluded his Order asking for other Courts’ support (Canada and U.S., or any other) in carrying out the current Canadian Court’s ruling, effectively asking for assistance, for “aid and recognition of any court or any judicial, regulatory or administrative body having jurisdiction in Canada, the United States, or in any other foreign jurisdiction.” Seems a consideration of U.S. jurisdictive authority. That Securities Act of 1933 Section 3(a)(10) exception as cited by the Canadian Court does not appear appropriately justified or well founded. Though certainly expertise for others.

[StockItOut]

Section 3(a)(10) of Securities Act of 133, as amended:

Section 3(a)(10) Debt Conversions In a Shell Company Pre-Reverse Merger
http://www.legalandcompliance.com/section-3a10/


Sure seems like Lepard’s suit applies to Banro and officers much for generally and with regard to Banro operations and its confidence relayed to investors than specific to Banro’s Recapitialization Plan, the Reverse Merger, in this case, as Effected Equity Claims, yet Canadian Justice Hainey didn’t ‘see’ it that way. He called procedural error, “non-compliance with the Claims Procedure Order,” and subsequently shut down all class members’ access thereafter.

Nice fix, the whole way.

Judge barred all Claimants from future recourse Claims, this includes all members of the Class Action suit. Had action singularly or just a few parties been filed, not a class action filed…


Room for an Appeal? Otherwise, that’s all she wrote.

[StockItOut]

4.4 Equity Claims
On the Implementation Date, in accordance with this Plan and in accordance with the steps and in the sequence set forth in Section 7.2, all Equity Claims other than Intercompany Claims that are Equity Claims (the"Affected Equity Claims"), and all Equity Interests, if any,shall be fully, finally, irrevocably and forever compromised, released, discharged, cancelled and barred.
Holders of Affected Equity Claims or Equity Interests shall not receive any consideration or distributions under this Plan and shall not be entitled to vote on this Plan atthe Creditors' Meetings and existing shares of Banro shall be cancelled and shall be deemed to be cancelled without compensation.


from Page 1 —

ORDER
(Plan Selection)

ON READING the with Notice of Motion, the Affidavit of Rory James Taylor sworn March 13, 2018 including the exhibits thereto, the Confidential Affidavit of Rory James Taylor sworn March 13, 2018 (the "Confidential Affidavit"}, the Third Report, the Fourth Report, the affidavit of Sophie Moher sworn March 26, 2018, and upon hearing the submissions of counsel for the Applicants, the Monitor, Gramercy Funds Management LLC, Baiyin International Investment Limited, Baiyin Nonferrous Group Company, Limited, VR Global Partners, L.P. and no one else appearing although duly served as appears from the affidavit of service of Sophie Moher sworn March 13, 2018, and upon being advised that this Order shall serve as the basis for reliance on the exemption provided by Section 3(a)(10)of the United States Securities Act of 1933, as amended, from the registration requirements otherwise imposed by that Act,


Final Paragraph —. per wording may actually allow room for an Appeal, if not otherwise as well:

37. THIS COURT HEREBY REQUESTS the aid and recognition of any court or any judicial, regulatory or administrative body having jurisdiction in Canada, the United States, or in any other foreign jurisdiction, to recognize and give effect to the Plan and this Order, to confirm the Plan and this Order as binding and effective in any appropriate foreign jurisdiction, and to assist the Applicants, the Monitor and their respective agents in carrying out the terms of the Plan and this Order. All courts, tribunals, regulatory and administrative bodies are hereby respectfully requested to make such orders and to provide such assistance to the Applicants, and the Monitor, as an officer of this Court, as may be necessary or desirable to give effect to this Order, to grant representative status to the Applicants in any foreign proceeding, or to assist the Applicants and the Monitor and their respective agents in carrying out the terms of this Order

[StockItOut]

12. THIS COURT ORDERS that nothing in the Plan extends to or shall be interpreted as extending or amending the Claims Bar Date or gives or shall be interpreted as giving any rights to any Person in respect of Claims that have been barred or extinguished pursuant to the Claims Procedure Order. Any Affected Claim or Director/Officer Claim for which a Proof of Claim or Director/Officer Proof of Claim has not been filed in accordance with the Claims Procedure Order, including for greater certainty and without limitation all claims or causes of action based on the allegations contained in the Lepard Action as defined below, whether or not the holder of such Affected Claim or Director/Officer Claim has received personal notification of the claims process established by the Claims Procedure Order, have been, shall be and are hereby forever barred, extinguished and released with prejudice.

15. THIS COURT ORDERS that on the Implementation Date, in accordance with the Plan all Equity Interests in Banro Corporation ("Banro") shall be cancelled without any liability, payment or other compensation in respect there of.

16. THIS COURT ORDERS AND DECLARES that all claims or causes of action against Banro Corporation based on the allegations set out in the Class Action Complaint filed in the United States District Court for the Southern District of New York by EMA GARP FUND L.P. and Lawrence Lepard, individually and on behalf of all others similarly situated as plaintiffs (the "Plaintiffs") against Banro Corporation and John Clarke as defendants, bearing Case No. 18-cv- 01986 (the "Lepard Action") constitute Affected Equity Claims.

17. THIS COURT ORDERS AND DECLARES that on the Implementation Date, in accordance with section 4.4 of the Plan, all Affected Equity Claims shall be fully and finally, irrevocably and forever compromised, released, discharged, cancelled and barred and that no Person including the Plaintiffs in the Lepard Action shall be entitled to any consideration or distributions in respect of such Affected Equity Claim.

[StockItOut]

http://cfcanada.fticonsulting.com/banro/docs/Banro%20Corporation%20Endorsement%20(March%2029,%202018).pdf

Monitor’s website: http://cfcanada.fticonsulting.com/banro/courtOrders.htm

[StockItOut]

http://cfcanada.fticonsulting.com/banro/docs/Plan%20Sanction%20Order%20dated%20March%2027,%202018.pdf

Monitor’s website: http://cfcanada.fticonsulting.com/banro/courtOrders.htm

[StockItOut]

Banro Announces Court Approval of Recapitalization Plan

https://www.banro.com/news-events/news-releases/banro-announces-court-approval-of-recapitalization-plan

March 27th, 2018

Toronto, Ontario, March 27, 2018 – Banro Corporation (“Banro” or the “Company”) and its Barbados-based subsidiaries (collectively, the “Companies” and together with the subsidiaries in the Democratic Republic of the Congo (the “DRC”), the “Banro Group”) are pleased to announce that the Ontario Superior Court of Justice (Commercial List) (the “Court”) has sanctioned the Companies’ Amended Consolidated Plan of Compromise and Reorganization (the “Recapitalization Plan”). The Companies are now working towards satisfying conditions precedent and closing the recapitalization transaction as soon as possible.

The Court’s sanction of the Recapitalization Plan is a key step towards its implementation and the Companies’ emergence from protection under the Companies’ Creditors Arrangement Act (“CCAA”). The Recapitalization Plan represents the best alternative for the long-term interests of the Banro Group which significantly reduces debt, improves liquidity, and allows the Banro Group to continue ongoing operations in the DRC.

A copy of the Recapitalization Plan and materials related thereto are available on the Monitor’s website at http://cfcanada.fticonsulting.com/banro/ and on SEDAR. Banro will continue to provide updates as developments warrant.

Banro Corporation is a Canadian gold mining company focused on production from the Twangiza and Namoya mines, which began commercial production in September 2012 and January 2016 respectively.Banro’s longer-term objectives include the development of two additional major, wholly-owned gold projects, Lugushwa and Kamituga.The four projects, each of which has a mining license, are located along the 210 kilometres long Twangiza-Namoya gold belt in the South Kivu and Maniema Provinces of the DRC.All business activities are followed in a socially and environmentally responsible manner.

Cautionary Note Concerning Forward-Looking Statements
This press release contains forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the CCAA proceedings, the restructuring process, the Company’s liquidity and ability to meet payment obligations and the timing of meeting such payment obligations, the Company’s intentions for the future of its business operations and long-term strategy, and the Company’s commitment to its employees and suppliers) are forward-looking statements.These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company.Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that the Company will be unable to implement the restructuring. In addition, actual results or events could differ materially from current expectations due to instability in the eastern DRC where the Company’s mines are located; political developments in the DRC; uncertainties relating to the availability and costs of financing or other appropriate strategic transactions; uncertainty of estimates of capital and operating costs, production estimates and estimated economic return of the Company’s projects; the possibility that actual circumstances will differ from the estimates and assumptions used in the economic studies of the Company’s projects; failure to establish estimated mineral resources and mineral reserves (the Company’s mineral resource and mineral reserve figures are estimates and no assurance can be given that the intended levels of gold will be produced); fluctuations in gold prices and currency exchange rates; inflation; gold recoveries being less than expected; changes in capital markets; lack of infrastructure; failure to procure or maintain, or delays in procuring or maintaining, permits and approvals; lack of availability at a reasonable cost or at all, of plants, equipment or labour; inability to attract and retain key management and personnel; changes to regulations affecting the Company’s activities; the uncertainties involved in interpreting drilling results and other geological data; and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s annual report on Form 20-F dated April 2, 2017 filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.The forward-looking statements contained in this press release are expressly qualified by this cautionary note.

For further information, please visit our website at www.banro.com, or contact Investor Relations at:
[phone]
[phone]
[e-mail].

[snapNpop]

Not insulting at all. It is a common practice between the big money and is done all the time.