We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Generally I would think along the lines of Gipps 15.09 post of which makes much sence.
Brgmg,
Personally I dont think so and think Zaza used the saying as an expression to say to us it's nothing to worry about .
ODR Prodigy,
Just to put some more meat on my post earlier about tactical reasons why the workers have not been paid . Two actual reasons why (not tactical ) are ...
1. All the revenue from oil and gas is going into an account controlled by the liquidators.
2. Zaza is not prepared to throw any more of his own money at it knowing that the outcome is not known and that the GG owe FRR more than enough in taxes to cover the employees debt.
Why would Zaza have brought all this bad publicity onto FRR over such a small amount of money and risked losing the company and license if both the above points are wrong and it really is just about the length of the PSA ?
Here are some more thoughts for discussion...
What were the 84 employees doing all year ? That’s a huge amount of people. What convinced them to continue to work without pay for so long, what did they see coming out the ground, what were they promised ? there were plenty of employees in the summer happy to talk that were found on LINKEDIN about how well it was going particularly T39 then all of a sudden it stopped .
If they were working in Block 12 the company must have been producing a lot of income from the oil and gas however there does not seem to have been enough produced to cover the Outrider debt. How far short were we and is the full amount now due since the missed interest payment ?
Have YA been paid , if so how , were they paid in full before the liquidation in May 2019 even though the main part of the debt didn’t become due until a June 2019, are they in our pockets for some future court case or one of the debtors ?
Why were all the employees laid off in December , could it be that a SM moved in with their own people and wanted to keep their identity secret , would they have moved in with arbitration unresolved ? I doubt it .
Why have FRR set up a new company with the GOGC with a 50-50 split ?
Why did the GOGC want 99% back and not 100% , I think this is quite significant and wish Oopsi had got back to me when I asked that question. 99% says to me that a deal is there to be done in arbitration ...
Sledgehammer to crack a nut were Zazas words , it’s certainly not that!
We are always behind in the loop . Zaza said end of January, we have not heard any different.
Just some thoughts in a rush, back to work ....
GL
Oh yeah, banks really do control your asstes.
BWAHAhahhahahasha
DOS and then dates between FTI being appointed.
BWTFDIK
The door Barry, the door.
Liquidators would have frozen bank account for payments out.
Not rocket science, so this is then stacked up and used for negotiating.
Clearly Georgian government are internally corrupt by Russia.
Will also add that surely ZM & SN would not have been fighting for it all this time, if nothing there.
Gipps
I agree with a lot of what you say
But I can 99.9 percent say that not paying the employees is not tactical- the very suggestion is ill advised in my opinion.
There is no possible scenario where deliberately not Paying the employees for the whole of last year could be interpreted as a good tactical move
For much of it - it was out of zazas hands after Hope sacked that board and set about dissolving that entity.
If you suggested Zaza not paying them out of his own pocket was tactical then I could see how that might be construed as tactical and a case argued for not doing it.
All in my opinion obviously
On the matter of whether or not Frr have a very nice looking amount of gas & oil on asset then what the f.c.k.are GOGC wanting to get it back, also Hopeless fighting tooth & nail for.
In end though as have mentioned a few time, it does not matter what anyone believes. The only thing that will tell us anything either good or bad, is a formal statement.
Gipps: what makes you think not paying the employees for 10/11 months is tactical? The initial report of protests/meetings suggested that Zaza was unhappy that they were looking to block the oil transportation ...
Their non payment, along with non payment of lawyers fees, the website (briefly) and potentially other suppliers suggests that we basically have no monies. If it is tactical then it seems to be backfiring at the moment ...
GLA
All very strange. Firstly what were those 84 employees doing up until Dec if there is no oil and gas as the GG has said. Secondly no mention that the GG owe FRR $6 MILLION which would have paid the employees nearly 3 times over.
As I said last week not paying the employees has to be tactical.
We must be getting close to Zaza saying something on the subject .
MP Nazvlishvili reproached members of the US Congress for bias
Tbilisi , January 27, 2020 , 11:53 - REGNUM Independent deputy Beka Natsvlishvili will send a letter to members of the US Congress and the American ambassador in Tbilisi urging him to closely monitor what is happening in Georgia before making accusatory statements. On January 27, the people's representative spoke about this at a press conference with former employees of Frontera Resources, according to Channel One of Georgian television.
Natsvlishvili pointed out that 84 employees were immediately dismissed at Frontera Resources in December. He noted that, speaking in defense of such a company, congressmen cast a shadow over all the rest of their accusations.
“I share their pathos in connection with democratic values, where attention is paid to the fact that the authorities did not keep the election promise in connection with the proportional election system,” said Natsvlishvili. “However, all this must be separated from the problems caused by the activities of American companies . ”
As REGNUM reported , a number of congressmen have previously stood up for Frontera Resources. Also in their appeals addressed to the Prime Minister of Georgia Georgy Gaharia, they indicated that they saw in Georgia’s domestic policy a deviation from the course of democratic reforms.
https://translate.google.co.uk/translate?hl=en&sl=ru&u=https://regnum.ru/news/2840562.html&prev=search