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Greenbriar: Wat nu?
Hieronder de opinie van Ron Struthers na de duik van het aandeel gisteren bij een heel hoog volume:
Greenbriar Sustainable Living – – TSXV:GRB – – OTC:GEBRF -C$0.45
Entry Price $0.77 – – – – – – – – Opinion – buy
I have learned there is a large seller in the market wanting to sell a large block. There is a buyer for these shares as well, but the terms on the price is up in the air. Until we see a large block trade, the stock will remain weak and I would just try buying with bids. Don’t chase the stock.
There can be all kinds of reasons somebody has to sell, like poor health, buying a new home, a divorce, financial problems and many more. It is sort of ironic though because this weakness in price comes at a time the company prospects were never better. Think of this low stock price as a gift.
For Sage Ranch, the city is rewriting the water report. Once the new water report is finished it will go to the city for re-approval and signature by the city, Voya will advance the USD $40 million construction loan and Greenbriar will start building.
It is not going to take a long time to do the report again, but it is government so they will use up some time. Meanwhile I would just try bids for the stock at the current bid price or lower. Once I see a cross go through that takes out the seller, I will send an alert. I have no idea how long this will be, but I would say a matter of days or weeks.
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8 Replies
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Dit schreef een auteur van Tehachapi News gisteren:
City, water district may be headed to settlement of ‘fourth cause of action’
Two local agencies embroiled in a legal dispute since September 2021 may be headed toward settling the remaining part of a lawsuit.
The city of Tehachapi and Tehachapi-Cummings County Water District were expected to be in court Friday for a case management conference ordered by Sacramento County Superior Court Judge Stephen Acquisto.
On Tuesday morning, the judge approved the water district’s request for a brief stay of the litigation and set a case management conference for 2:30 p.m. on Dec. 6.
On Thursday, attorneys for the water district filed the stipulation and proposed order, asking the judge to stay the litigation. The document states that the parties are working toward a settlement. The city did not immediately respond to a request for comment Tuesday morning.
The judge approved the request, staying the case until Oct. 13, extending some deadlines to late October and November and set the Dec. 6 case management conference.
Although the Sage Ranch developer — a group of related companies commonly referred to as “Greenbriar” — and Jeff Ciachurski, the chief executive officer of those companies, were identified in the 2021 litigation as “parties of interest,” the stipulation and proposed order notes that the water district named only the city in the fourth cause of action.
Previous ruling
On June 18, the judge ruled on three of four causes of action in the dispute. The water district challenged the adequacy of environmental review and related matters before the city approved the Sage Ranch subdivision in September 2021.
Acquisto ruled in favor of the water district on the first three causes of action and said the city had not met the California Environmental Quality Act standards in preparing the environmental impact report for the 995-unit residential project.
However, the judge noted that it was “unable to issue the judgment or peremptory writ until the fourth cause of action is resolved.”
Once the fourth cause of action is resolved, the ruling states, “a judgment shall be issued in favor of the district and against the city.”
The city must report to the court within 60 days of that time on what it has done to comply with the June 18 ruling. According to that ruling, the peremptory writ will command the city to set aside approvals for the Sage Ranch project.
‘The fourth cause of action’
The fourth cause of action — that the city has a “pattern and practice” of violating CEQA — was set aside at the water district’s request in March 2023.
In its fourth cause of action, the water district contended that the city has a “pattern and practice” of CEQA violations, specifically approving subdivisions without fully considering water availability. The projects included some that were approved by the city as far back as 2006.
Although the city approved the subdivisions, there was little residential construction in Tehachapi over the 10 years preceding the court filing, with some projects disrupted by the economic downturn of 2007-2008. At least one of the projects — The Address — is not moving forward.
Other cases
The city has initiated two lawsuits against the water district in Kern County Superior Court.
The most recent complaint (BCV-24-101512) was filed on May 1 and concerns a dispute over a 2020 agreement by the parties related to recycled water. A case management conference is set for Nov. 4.
The other case (BCV-23-104134) is a writ of mandate filed by the city in December 2023 asking the court to command the water district to produce public records previously requested by the city. A court trial was previously scheduled for Sept. 6.
However, on Aug. 15, Judge Thomas S. Clark ordered an Aug. 20 mandatory settlement conference, the September trial date was vacated and the case stayed in its entirety “except for settlement discussions or proceedings related to settlement discussions,” for 60 days. A case management conference is set for Oct. 31.
tehachapinews.com
City, water district may be headed to settlement of ‘fourth cause of action’
Two local agencies embroiled in a legal dispute since September 2021 may be headed toward settling the remaining part of a lawsuit.
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Op eerste blik lijkt het een potje touw trekken tussen de beide partijen.
Maar wat als de city hier toch geen gelijk in krijgt dan geen water voor het project of gewoon weer een reeks rechtszaken er moet toch een einde komen en de mogelijkheiden hiervoor.
Maar goed lijkt nog wel dat dit in 2025 gewoon verder gaat
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Wie is die Ron Struthers juist?… staat nu $0.3 btw
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Ron Struthers is een uitgever van een kleine beleggingsnieuwsbrief uit Canada. Dat doet hij al 27 jaar. Daarvoor werkt hij voor IBM. Hij focust vooral op goud en grondstoffen en doet dat in geheel eigen stijl. Vaak heeft hij het over nano- en microcaps of geeft hij kritiek op allerlei actuele onderwerpen in de Canadese en Amerikaanse politiek.
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Kriebelde om bij te kopen maar heb er nog 5000 en sta nog redelijk op verlies.
Nu toch wel te laat de dip is voorbij en meeste aandelen zullen wel al opgekocht zijn
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Is er al een update hierover?
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De gesprekken over de schikking tussen de stad en het district rond het waterconflict verlopen positief volgens de ceo.
Jeff blijft wel wachten op een publicatie van de stad of het district (over een mogelijk akkoord rond de finale schikking) vooraleer er een persbericht over uit te sturen.
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Ik vond dit terug.
Het juridisch getouwtrek gaat nog even door precies. “Welcome to the US”, zeker?
Nacht files new petition asking judge to allow court case to include …
By CLAUDIA ELLIOTT For Tehachapi News Oct 7, 2024
Kern County Superior Court Judge Gregory Pulskamp on Oct. 1 rejected Stuart Nacht’s motion to add the chief executive officer of the company developing Sage Ranch as a cross-defendant in a legal dispute that dates from June 2022.
By the next day, Nacht’s attorney — Robert J. Noriega — filed another motion with the same request, adding greater detail to allegations that Jeffrey Ciachurski, member-manager of Greenbriar Capital (US) LLC, obtained water rights in his own name — rather than the name of Greenbriar — and then transferred those water rights to his friends, after which Greenbriar “obtained a right to purchase those water rights for more than four times the price paid by Mr. Ciachurski.”
As of midday Monday, online court records did not show that Greenbriar had responded to the allegations included in Nacht’s latest filing.
A hearing on the matter is set for 8:30 a.m. on Oct. 28 in Kern County Superior Court.
Nacht seeks “to litigate the question of whether Ciachurski personally engaged in transactions to the detriment of Greenbriar Capital and its creditors for the benefit of himself and/or his friends.”
Greenbriar is the developer of the proposed 995-unit Sage Ranch residential development approved by the city of Tehachapi in September 2021.
There is also an unrelated lawsuit by Tehachapi-Cummings Water District against the city. A judge ruled in June that the environmental review was insufficient and a case management conference on a potential settlement of the remaining cause of action is set for Dec. 6.
In June 2022, Greenbriar filed suit against Nacht, the company’s former vice president of real estate development. The case was transferred to Kern from Orange County Superior Court in August 2022.
Greenbriar alleged breach of contract, which Nacht denied in an answer to the complaint filed concurrently with a cross-complaint in September 2022.
Nacht alleged labor code violations in the cross-complaint — and Greenbriar denied Nacht’s claims in an answer to the cross-complaint filed with the court in November 2022.
Since then, the parties have been involved in discovery, with a trial date set for April 21, 2025.
On Oct. 1, Judge Pulskamp called Nacht’s Aug. 30 filing “speculative.”
Greenbriar, in a filing on Sept. 17, told the court Nacht’s motion to add the alter ego allegation and a new cross-defendant, Ciachurski, should be denied. “Alter ego” allegations are more commonly known as attempts to pierce the corporate veil, allowing individuals to be held liable.
According to Greenbriar’s filing prior to the Oct. 1 hearing, Nacht has no basis for alter ego liability, but “wishes to go on a fishing expedition about an alleged unrelated and irrelevant water deal.”
Claudia Elliott is a freelance journalist. She can be reached by email: [email protected].
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