Damages sought in Commonwealth Global dissolution

SHIREKEEP — Alexandria’s government has filed a case before the Shirerithian courts in an effort to reclaim the assets of the Commonwealth Global Corporation, which it claims were fraudulently moved to Shireroth.

In its filing before the Imperial Judex, the Alexandrian government claims that the former CEO of Commonwealth Global, Giles Melang, fraudulently transferred several hundred Erb to various stakeholders and the Shirithian government in September 2013 in contravention of the law in both micronations. The claim states that Melang transferred and distributed all funds belonging to the Alexandrian-based Corporation during an attempt to illegally dissolve it. At stake is a total sum of 1467 Erb.

For its part, Alexandria is hoping that the Imperial Judex will find that a fraud did occur under the provisions of Shirerithian law and order that the assets be frozen until returned in-full to the Corporation. The assets would inevitably be distributed to any creditors and the Alexandrian government, as the corporation officially entered into receivership on January 1 of this year.

An intervener in the matter, the Elwynnese state government, which benefited from the distribution of funds by Melang, has petitioned the Judex to reject the Alexandrian application citing jurisdictional limitations. It has expressed its opinion that the Imperial Judex cannot hear disputes from foreign powers against Shireroth or its constituent states. It has instead suggested that the matter be resolved through diplomatic channels.

Melang has not yet filed a Statement of Defence in response to the claim though he did provide a brief statement to the Court. “I categorically deny and oppose this claim,” stated Melang, echoing the Elwynnese argument that the Imperial Judex has no jurisdiction over the matter.

Damages sought in Commonwealth Global dissolution

Melang takes lead role in Commonwealth Global

BASTION UNION (CS) – In its first shareholder meeting since last October, Micras multi-national corporation Commonwealth Global shareholders met this month to discuss a range of matters affecting the stagnant venture.

The meeting, originally called for in early February, faced a prolonged delay from a lack of action by shareholders on appointing a chair and ironing out an agenda for the gathering. That was until March 12 when in a surprise move, Commonwealth Global founder and controversial former Chief Executive Officer Giles Melang returned as a “new” shareholder. Melang wasted no time in self-nominating himself to become the company’s new chairman, which would give him financial controls of its operations.

Melang spoke on the challenges facing Commonwealth Global as an active venture, noting that “we should not end [the company] completely,” and calling for its restructuring. Among his proposals was the purchasing of the “Micro” radio station for 3,000 erbs, the relocation of its headquarters from Shireroth to Elwynn, carrying favour with micronational governments and the issuance of additional shares to raise revenue. Melang also proposed capping the venture’s holdings at 10,000 erbs, and distributing any gains above that level to shareholders as dividends.

The proposal to offer additional shares for sale met with resistance from Hesam Jayatar who cautioning that issuing new shares would “flood the market and destablise the stock value,” resulting in a significant devaluation of existing shareholdings. Jayatar instead proposed that Commonwealth Global be reclassified as a corporation-in-governance, along the lines of such historic macronational ventures as the Hudson’s Bay Company or East India Company. This reclassification would allow the venture to gain land on the Micras map, thereby giving it a “valuable commodity” on which to add value to shares and encourage their exchange for increasing value.

The proposals by both individuals received little discussion before the meeting again descended into haggling over who should officially be designated as the Chair. Reinaldo da Silva put forward his candidacy and was being widely supported by a majority of shareholders for the role until Melang ultimately and unilaterally seized the position, claiming it his right as the single-largest shareholder on March 22. Seeing the hostile response to his seizure, Melang attempted a sheepish retreat two days later, offering to support da Silva’s appointment to the position; however, da Silva withdrew his candidacy for chair, with a terse accusation that Commonwealth Global “is too dysfunctional to control, particularly with [Melang] retaining share in it.”

The meeting has since again stalled as of March 25, with the original structure-related agenda and Melang and Jaytar’s proposals still unaddressed.

Melang takes lead role in Commonwealth Global

Commonwealth Global Board adopts by-laws

One of Micras’ most active enterprises, Gustave Chevalier’s Commonwealth Global Inc., has seen a more comprehensive corporate structure adopted in its quarterly meeting, as the Board of Directors has been expanded and a number of internal governing by-laws adopted.

The Board of Directors of the corporation, which has an authorized composition of seven individuals, was able to meet a majority quorum as three individuals were appointed in addition to existing directors Edgard Carrillo, the corporation’s Chairman, and majority-stakeholder Chevalier. The three individuals appointed were Jacobus Loki, Tarjei Einhornsson, and Vilhelm Benkern. Jean Carmichael, who controls 0.2% of total corporate shares, voiced his desire to hold the sixth seat on the Board, but Chevalier failed to grant the appointment.

A number of bylaws were adopted during the meeting, all of which were put forward by Chevalier as the majority-stakeholder and ceremonially-seconded by Carrillo without discussion. Among the bylaws are a guarantee that the majority-stakeholder will always hold a position on the Board of Directors, whether directly or vicariously through another director acting in a puppet role, and to provide for a chief-executive officer for the corporation, who would have near-total control over the operations of it.

Commonwealth Global Inc., formerly VasCo and Associated Companies, markets itself primarily as a geopolitical analyst with further operations in defence materiel development and supply. It is unclear as to the value of sales made by the corporation in its history due to a lack of up-to-date published financial statements being published; however, reviews of the corporation’s products have generally been negative.

In 2011, the corporation released a geopolitical analysis concerning the Kingdom of Babkha in 2006 as a sample of its product. That analysis was quickly dismissed by critics as a poor quality product that stated the obvious and offered well-established facts as predictions of future events in an attempt to legitimize the service provided to customers.

The CW Global DPD HPR-125, its first original defence materiel product, failed to sell due to an inexplicably disjointed barrel, that Chevalier later defended as being intentionally “curvilinear” in an apparent attempt to save face.

The corporation was also criticized for its support of the illegal use of the intellectual property of rival micronational companies in the development of its defence materiel products. Said Chevalier in that incident, “… We were happy to copy [the designs] … Micras cannot be beholden to just one or two defense manufacturers.” Eventually, Commonwealth Global would develop its own first unique rifle, which failed to sell when potential customers noted that the rifle had a curvilinear-barrel, or so Chevalier claimed when confronted on the fact that the barrel was disjointed. The fallout of the poor rifle design was a unanimous polling result of “no” in response to the corporation’s later public polling that sought confirmation of whether it should enter, or more accurately, remain in, the defence industry.

It remains to be seen if the recent appointment of a Board of Directors, unquestionably dominated by Chevalier, will result in Commonwealth Global moving-on from his questionable ethical conduct of the past that has marred the corporation’s reputation and marketability.

Commonwealth Global Board adopts by-laws