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Surprised to hear this latest news that Zaza is apparently no longer leading FRR. I thought it would just be a case of sitting and waiting out the result of the Georgian Election.
For me I think at least as far as I can see on the face of it Zaza did good work in dealing with the problems FRR had. I know some here wanted him gone and weren't happy about the Nomad leaving and the radio silence. The radio silence wasn't much joy for us SH.
If he had gone by/around the 4/5th Sept then I guess that might point it to being as part of an agreement for the GG not taking back the whole lot in late August possibly.
My view is that Zaza has always seemed very committed to Frontera and apparently has a lot of shares so if he has stepped down then I can only guess that there was some over-riding reason that he had to. Possibly he might come back later and/or this is a tactic to hold up the court cases.
I guess it could be a buyout/JV deal, it might seem soon but with the GG stepping down from their threat to take the field then that could have also cleared the way.
If Zaza said is now just a PI like us then perhaps someone could send him an invite to join this board then we can find out what's going on ;)
Copy jjcarter post below , can’t remember if title was his or existing thread .
Big Bada Boom 03 Sept 20 19:59
Zaza has been removed as CEO of Fontera by board and by Steve .also from all executive positions .
So Zaza is off the board now and is presumably an ordinary PI just like us.
The reason for his removal/resignation and subsequent silence after all the hooha he created intrigues me.
Were GG involved, or the Senators and lobbyists,if so why? I can't see him just walking after all that, it must have been a huge push.
As ever this is some saga and not what I was expecting from a mere punt on an O&G Co
It was taken out because they gave personal guarantees on the shares and then failed to deliver them.
Hence I'm intrigued why they believe its now a conflict of interest to represent Steve through Frontera but Zaza is cut adrift now he seems to have no connection but presumably holds the shares they were after for the personal guarantee.
What discovery request would you issue in this case I wonder - I have to say other than claiming it should be moot till the cali case is resolved I'm struggling to see how you defend making a personal guarantee and then not handing over the security on default. They seem to be pushing this case in advance of Cali - to farm evidence or test some of the evidence here maybe?
Checked Georgia registrations and no obvious new items on first glance.
This is a request to expedite ZM's attorney's request to withdraw as ZM's counsel.
H/OMF's discovery in the Texas case was due to complete on 15/12/20, and the(bench) trial was due to proceed on 07/01/21,. H/OMF's side has issued a discovery requests to ZM and has agreed a 2 week extension for ZM to get a new lawyer and respond to the requests.
That's it. Interesting, but I believe that although this case has been taken out on ZM & SN due to their activities as directors, they are being pursued on a personal basis. I don't think it has a direct effect on FRR.