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Star: What are they worth to Hope then? I must be missing something...
not like you to spoil the fun star :-(
If it was completely over then cannot see that Hope would still be going for them even if that he had no other choice of which I think it was the case he choice to go for the shares.
Couple of reasons spring to mind.
First he can't be sure on the fidcuiary until its settled either in or out of court.
Second, a judge Kawaley observed there is a real animosity and mutual displike. The Texas case is pretty cheap to run and on a fairly solid basis. That may also be less about the shares themselves than the leverage it gives.
If it was me I'd do exactly what Hope is doing if someone tried to drag me through the courts.
Third, not fighting the security side would look odd given the wider mortgage default battle.
What do you think he should do?
For the avoidance of any doubt and I think I've been consistent I never rule out a surprise outcome here. However, the way the last 3years have played out it looks much more like the Madagaskar oil scenario with outrider than a surprise deal. So I have conditioned myself to expect to lose most or all my investment here but be surprised if that is not then the case.
The end seems to be approaching and there is nothing we could have done about it since agreeing the changes to the articles (was that 2014?) and the restructure votes in 2016 and 2017.
Hope is secured and will get something back (unless he loses in Cali) even if he has to drag off the old machinery and stock of materials at taribani. We are at the back of a long cue of creditors before we get a chance on whats left. With Shares Hope would have two chances at the assets - first as a secured creditor and then with a tidy share of whats left.
Isnt it the fact that it is either shares or payment . Do we know that Hope has chosen shares rather than payment ?
strong buy at the moment
Mole: Why does Hope still want FRR shares? If what you say is the most likely scenario then it doesn't add up.
well i'm a B-2-0 believer and his give it a couple of weeks comment ties in with a deal perhaps. Zaza gone and now under NDA. Wonder if there is a purdah period in Georgia for deals prior to election. Perhaps we'll hear news before end of Sept?! GD will want to go to town on signing up some big SMs before the election and with Zaza under NDA (imo) they'll be seen to take all the credit!
Cazbraz for me its always about primary documents as evidence to inform theories. I don't know where he/she would get the first set of docs/info but the exit of Zaza may have been visible on either the Texas or Cayman company registry. Its not price sensitive as we are delisted! The weight of those primary documents in last 3 years has been persistently negative.
I think some sort of sell on is a real possibility. But what is the price/risk of terminating litigation and net of the loan notes and mountain of other debts is 1% of the block now worth in a strategic or fire sale and what would be left for shareholders once the company is liquidated? The other option is capitulation and walking away.
I can't see how the company continues there is nothing really left apart from some leases. The company is really a shell.
The fiduciary driven cases should never have happened in my opinion unless they had absolute solid evidence before hand. The timing leaving it right to the default in that crazy 6 weeks period with YA attempting to bail by pre-selling shares and then the majors under NDA, the default of a debt we never knew was due and litigation has never felt right to me.
Black swans are quite common . I've never seen a scruffy duck... :-)
Bezzy id missed that one thanks
b2o winding ODR up lol
Black swan now appearing very large on the horizon, he was right lol
second thoughts, maybe just a scruffy duck
ODR1 - I hear what you're saying (re b20 and JrJnr), but let's face it - the only reason we feel ok about JJCarter now is because he's been proven to be right by court docs. IF and I know it's a big IF, the others turn out to be proven in time then I think we'll all (except the shorters etc), feel somewhat different about them too. :)
tsbs - Looed was here at 02:18 this morning.
R8 - Zaza Jnr?
Kenco - the Big Bada Boom message was JJ’s second post on this bb. His first was the photocopy of a letter from Zaza’s legal team shortly after the leaked / doctored arbitration document. As Reg has previously stated, this is definitely someone ITK as word of Zaza’s ‘resignation’ has not been mentioned by the GOGC or any any state owned media station. After all of his negative comments on the GD over the weeks then this would have been jumped on. Both sides have gone quiet !
The legal doc (MP - do you have a link?) that JJ posted the link to was a massive positive as it countered the shooter’s attack and reassured the S/Hs. I’m therefore I’m the belief that the resignation is positive too as he clearly on our side.
Which ever way this turns out, the conclusion must be round the corner now because if FRR were to continue for some time in Georgia, particularly during an election, then it would certainly need a Georgian as the CEO !
Rainbow said he's not gonna post anymore "for some time". That was three days ago. In case you're starting to suffer from Rainbow withdrawal syndrome, here are some of his battle cries:
He has lots of skin in the game.
FRR is Zaza's baby.
Have no fear. Zaza 's here !
Beware fake fracking news.
There's lots of it around :-(
Zaza is made from tough stock and is fighting our corner.
You gotta be innit to winnit.
Lol
Cazbraz ,mm good point .
It beats me why some folks seem to cling on to B-2-0's predictions of riches when if you review his posting history it's clear he knows nothing more than the rest of us. JJCarter on the other hand did provide new knowledge.
We are all wondering and speculating on what is going on based on the two things we know: Zaza is no longer associated with FRR and Zaza has suddenly gone quiet, having previously been banging the Frontera drum hard and bashing the GG.
where looed , domfok and rainbow
maybe zaza sacked himself cazbraz as he made such a hash of his job :-)
I may be just hair splitting, but JJ Carter said : by board AND by Steve - surely 'the board' is only Luis Giusti if he's mentioned Steve separately? Or does this mean that some 'other' board is involved in this?! Time will tell..... GLA (really hoping that B20 and JrJnr turn out to be as well informed as JJC has been proved to be!) Fingers crossed
What a roller coaster, with hopefully a phenomenal time to end the ride for all LTHs.
I retire in December (this chapter of working life anyway) so a large addition to the pension pot would be very welcome ;-)
GLA
It could be as Seingred says or a result of a takeover though I think that might be less likely.
Another thought I have had is apart from the board not being happy with decisions Zaza made or something he did is perhaps Zaza's intent for the company did not align with the board's. If Zaza want an ongoing joint venture and possibly other ventures in Ukraine and elsewhere whereas maybe the board had, had enough and just wanted to sell out. I know myself I'm not interested in an ongoing concern with years of he company developing but myself seeing little return. The board may have felt the same way while Zaza perhaps wanted to develop the company while seeing little return with everyone growing old with long beards.
Another thought is if the matter with Hope is all about personal guarantees between Hope & Zaza maybe the board felt it wasn't anything to do with Frontera as a company and that Zaza using the company to fight his corner was acting in his own rather than the company's interests so had to go.
Just a few thoughts I thought I would throw out there, could be off base but can be interesting to speculate sometimes I think.
I think its the opposite Seingred
Reckon its a strategic withdrawal . Zz could well be the price frr paid for georgians not cancelling the psa .
Just want a conclusion.
Good or bad.
Good - Happy days for all holders
Bad - At least you can then declare losses again any CGT profits elsewhere.