ORE Membership of Upwell Consortium Confirmed by Yani Sar Arteu in Aftermath of Station Seizures

New Eden News | YC117-11-30 - By Lina Ambre

4C-B7X, Outer Ring - Following the stunning actions of Mordu's Legion and Arkombine mercenary forces in Outer Ring, as reported by the Scope, the situation with the Outer Ring Excavations corporation has been clarified by Upwell Consortium Chairman, and founder of ORE, Yani Sar Arteu. The announcement, in the wake of the ORE station assaults and seizures, that the mining and technology conglomerate would be joining Upwell was confirmed by Chairman Arteu today, as the Secure Commerce Commission reported that share activity before and after the attacks was legal and above board.

Chairman Arteu, formerly a major shareholder of ORE, confirmed to the Scope that a number of trusts, investment houses and pension funds of excellent reputation had acquired a large holding in ORE shares over the years since the Serpentis Corporation acquisition of ORE in YC108, and had elected to transfer their positions to the control of the Upwell Consortium board. A number of other independent and private shareholders are reported to have signed a memorandum of understanding confirming their agreement that executive control of ORE should be at the direction of the Upwell board. In this context, the legal position, confirmed by the SCC's ruling on the matter, is that the station assaults are considered to have been operations to seize and place under rightful executive control major corporate assets in the Outer Ring region.

The Serpentis Corporation has announced its intention to protest the seizures and appeal the SCC ruling. The Scope understands that legal opinion is that there is little chance of an appeal being granted to the favor of Serpentis. While the major New Eden powers have expressed disquiet at the manner of the change of control of the ORE stations and associated holdings, there is little sympathy for the Serpentis Corporation among the Big Four. Indeed, the attitude within the political apparatus of the Gallente Federation, the major empire most proximate to Outer Ring, is one of undisguised pleasure at the overall thrust of these developments.

More details on the operations carried out by Upwell's mercenary forces are emerging. It now seems clear that Arkombine troops staged from the Chemal Tech stations in the Outer Ring and may have been massing at those locations under cover of supply runs made by that Upwell member in preceding days. Mordu's Legion forces are believed to have struck via routes from both Cloud Ring and Syndicate, with indications that some Legion forces also used wormholes or cynosural fields to enter staging systems in Outer Ring. The lack of resistance on the ORE stations is believed to be due to large-scale infiltration together with a rather welcoming attitude on the part of long-time ORE employees.

The overall impression given is of an operation that has been long in the planning from both military and financial points of view. Chairman Arteu has publicly thanked Mordu's Legion and Arkombine for "their professionalism and exemplary conduct of these difficult and technically complex asset recovery actions." He went on to say, "The Upwell Consortium board is grateful to now have the opportunity of working with ORE on a sound legal footing, free of the taint of gross criminality, piracy and terrorism that are the marks of the so-called Serpentis Corporation."

Serpentis representatives were unavailable for comment.