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Tuesday, December 13, 2005 4:58:55 AM
http://www.royalpetroleum.com/
It does not appear that this is the same company associated with stock manipulators via Tidewater management (A Vancouver Canada company).
Following is the info I have on the "bad" Tidewater:
Tidewater management
Rakesh Saxena
From SourceWatch
Rakesh Saxena is an Indian banker, who, while in exile in Canada approached Tim Spicer of Sandline International to discuss aiding President Ahmed Kabbah's return to power in Sierra Leone.
Spicer says of the initial encounter: "Saxena's interest was mineral concessions, but his approach put us on the spot, for we work for governments, not businessmen."[1] (http:freespace.virgin.net/ambrose.ganda/Corruption_story_goes_on.html)
At the time, Saxena was head of the Vancouver based Tidewater Management Corporation, held bauxite concessions in West Africa and was also wanted in Thailand for charges of embezzelling up to $2 billion (figures vary from as low as $88 million) from the country's Bangkok Bank of Commerce. He made an initial payment of $1.5 million before he was arrested by Canadian authorities for having a fake passport. [2] (http://www.wsws.org/news/1988/sier-m14.shtml)
Sandline's international chairman at the time was Anthony Buckingham who was a major shareholder in Diamond Works Ltd., a diamond company with six mines in Sierra Leone. He is also a founder of Executive Outcomes. Perhaps this is what prompted Saxena to pay Spicer a $70,000 consulting fee to prepare an appraisal of the situation in Sierra Leone. [3] (http://www.parliament.the-stationary-office.co.uk/pa/cm199899/cmselect/cmfaff/116/116app11.htm) [4] (http://caat.org.uk?information/issues/mercenaries-1999.php#3)
Retrieved from "http://www.sourcewatch.org/index.php?title=Rakesh_Saxena"
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TIDEWATER MANAGEMENT TEAM PURCHASES COMPANY FROM INVESTOR GROUP
Written by Administrator
Monday, 21 November 2005
Company was sold almost 20 years agoThe management team of Vancouver-based multi-modal transportation company Tidewater Holdings, in partnership with Pacific Northwest-based Endeavour Capital, has purchased the company from an investor group. The group was led by an affiliate of Sterling Investment Partners of Westport, Conn.“Local ownership means that Tidewater’s headquarters will remain in Vancouver,” said President Dennis McVicker, in a statement from the company.The company, founded in 1932 by Lew Russell Sr. and subsequently owned by Lew Russell Jr. and Raymond Hickey, was sold to the Sterling-led investor group almost 20 years ago, in 1986. Portland-based Endeavour Capital provided equity financing for the management buyout, while a consortium of banks led by Bank of America and U.S. Bank provided additional financing.Tidewater, traditionally a Columbia and Snake River barge company, employs more than 250 employees in Washington, Oregon and Idaho and handles grain, refined petroleum products, fertilizers and a wide variety of containerized freight. Terminals are located in Vancouver, Pasco and Clarkston in Washington and Boardman and Umatilla in Oregon. Tidewater also owns Sundial Marine, a marine construction and repair company located in Troutdale, Ore.
http://www.vbjusa.com/index.php?option=com_content&task=view&id=288&Itemid=0
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http://www.tidewater.com/index.htm
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If you don't remember why I am interested in Tidewater, etc, it is because this company is associated with Ian Carvic, Sexana, Americo DeRossa, and other unsavory characters. Following is the info and link:
***Taub’s Involvement with Rakesh Saxena
10. During the Material Time, Taub opened numerous accounts at Brant Securities Ltd.
(“Brant”) for the following individuals and entities:
a. Tidewater Management Corp., (“Tidewater”), a corporate entity controlled by
Rakesh Saxena, (“Saxena”). Saxena was referred to Taub by another one of
Taub’s clients, Harvey Rubenstein (“Rubenstein”);
b. Amrit Sarup, (“Sarup”) who is Saxena’s mother. Saxena had trading authority
over Sarup’s account;
c. Rubenstein;
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d. Ivan Cavric, (“Cavric”) a business associate of Saxena and Rubenstein whom
Taub considered to be the “dealmaker” for these individuals;
e. Fred Kimber, (“Kimber”), a business associate of Cavric.
f. Americo de Rosa, (“De Rosa”), a business associate of Cavric.
g. Join Kind Ltd., (“Join Kind”), a corporate account over which Saxena had trading
authority.
11. Tidewater, Saxena, Sarup, Rubenstein, Cavric, Kimber, Rosa and Join Kind engaged in
trading activity which appeared to be or was consistent with market manipulation or
deception. Trading activity in the securities of Wavetech Networks Inc. (“Wavetech”),
Millenium Equities Limited (“Millenium”), Digital Cybernet Corporation (“Digital”) and
Armac Capital Corp. (“Armac”) exhibited characteristics that should have caused to Taub
to ensure that the trading activity was not manipulative or deceptive.***
http://www.offshorebusiness.com//message_board_detail.asp?id=16653&page=1
Legal document:
http://www.ida.ca/Files/Enforcement/HearingAndParticulars/HP200510210_en.pdf
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I still need to find out who BIGN's Royal Petroleum is. I'd feel a lot better if it was a reputable company.
BIGN: $0.0275b
Ajor1
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