[Community-Discuss] [members-discuss] Update on legal case

[Andrew Alston]

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

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From: JORDI PALET MARTINEZ via Community-Discuss <community-discuss at afrinic.net>
Sent: Sunday, July 25, 2021 1:12:37 PM
To: Community Discuss <community-discuss at afrinic.net>; members-discuss <members-discuss at afrinic.net>; chair <chair at afrinic.net>
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 <paul.wollner at africaoncloud.net<mailto:paul.wollner at africaoncloud.net>> 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 <chair at afrinic.net<mailto:chair at afrinic.net>> 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


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