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But then as there was a "material breach" they were able to also claim the remaining 1%. But backed down when Uncle Sam thankfully started throwing his weight around.
DomFok: Frontera continually adopted this approach, which in the end paid dividends thankfully. But the arbitration ruling document was briefly available and was very damming and clear in its ruling. I still have it saved.
ODR - Just a quick search
The company "Frontera" releases a statement regarding the decision of the Arbitration Court. The company points out that the Georgian government and their hired lawyers are making false statements about the outcome of the dispute and misleading the public.
Here is the statement:
"Last week we learned that the Georgian government and the lawyers they hired have deliberately made false public statements regarding the outcome of an arbitration dispute that the Georgian government launched in 2018 against our company.
The public statements made by the Georgian authorities and their hired lawyers are intended to mislead and divert attention from the actual outcome of the arbitral award. Through the state media as well as other means, the government has spread false news that deliberately distorts the results of the arbitration.
These statements and false news have deliberately undermined our company work and related investments in Georgia for twenty-four years, amounting to more than $ 500 million. Similar false rumors and public statements made by some members of the Georgian government these days include an inappropriate attempt to insult the US government and discredit both them and other supporters of American business like Frontera. In addition to making misleading statements, government-hired lawyers quickly found a way to capitalize on this inaccurate spread of the fabricated story and advertise their business on legal, commercial, and social media. This is not surprising! Government legal advisers have announced that they have received more than $ 30 million ($ 9 million) in compensation from the state treasury for a dispute against Frontera. Really good business.
Because of this, we call on the Georgian authorities to end the fake and ill-advised PR campaign against Frontera and other American businesses operating in Georgia. Frontera is pleased with the outcome of the arbitral tribunal's decision, especially given the brutal and unsuccessful tactics used by the Georgian authorities for unexplained reasons, systematically obstructing Georgia's most important oil and gas sector, hundreds of Georgian employees and other businessmen.
In the face of these challenges, which are caused by the state of emergency caused by COVID-19 in Georgia and which afflict many Georgian citizens, we strongly believe that we should spare no effort to help the Georgian economy recover in the post-pandemic period .
In this context, as the largest American private sector investor in Georgia, Frontera remains a committed corporate citizen of Georgia, committed to helping the country rebuild its economy and achieve energy independence that will result from our work in the Kakheti region. Now that the legal proceedings initiated by the government against the company are over, we hope to switch to a more constructive
Aurora: to correct you, we actually lost the arbitration and then via breach lost the asset but got it back via political pressure.
Hopefully history will repeat itself....
A whole country tried to take it before and we got the juicy bit back with the arbitration process. With some big western govnmt backing I think we will get it back again if indeed its been stolen. It will just take time.
Phil. I like you am puzzled why Zaza is still registered as Director for LLC Frontera Resources Georgia and Frontera Resources Georgia Corporation although he was replaced by Dustin Aro at Frontera Resources US LLC on 12/01/2021. When I questioned this, Mole suggests this is due to FTI and the court case with Outrider but I'm not familiar with the details so please have a look at Mole's posts.
As for Green Capital and Zaza's alleged "illicit activities" which, as you mention, perhaps involves selling oil through surreptitiously formed companies owned by his son (see Looed's post earlier today), I expect yet more litigation in Georgian Courts. We have to bear in mind that it is also in the interest of Outrider/FTI to pursue this but it is going to be very difficult fighting on Zaza's home ground even with overwhelming evidence of illegal activities.
My guess is at present that Zaza is out in Georgia but that it's difficult to get someone in to replace him because of the virus. Has he been taking advantage? It still seems strange to me that the main parent company Frontera US. Corp was not able or did not want to remove Zaza from the Georgia entity even though they had removed him as Director from the parent company. I could be wrong on that though, has Zaza indeed been removed from the Georgia entity but set up another entity outside off the FRR group but also used the Frontera name even including 'Georgia' as well so creating a confusing situation whereby he is Director of his own separate 'Frontera...' companies that aren't controlled by Frontera US Corp and were not set up by them? I recall a few posts back someone found that there were two Frontera companies that were different but both had 'Georgia' in the title.
If this is so then to what reason? I'm not so sure that Zaza would try a fiddle but possibly they have been set up to facilitate some sort of operation with the main Frontera US Corp, selling oil has been one mentioned though the specifics who knows. So possibly Zaza is trying to get some profit for himself by creating support companies to aid Frontera in the selling off oil. As the registration docs show that have just been highlighted these companies seem to have been created while he was still Director so did he award these support Frontera companies that he 100 percent owned contracts to sell on the oil etc before he was dismissed later in the year, last year as a Director?
Possibly that may or may not be seen as a legal move, conflict if interest? Or something that reasonably aids FRR interests?
So question is then of how Green Capital became involved, was the deal with FRR's Georgia subsidiary or Zaza's Georgia company setup?
Has Zaza been speaking off his own 'Frontera' setup companies in recent interviews including the hydrocarbon development talk, etc? I would find it quite plausible.
I may be off track on all of this of course but that is my thoughts at this time. Would be interested to hear what others think on this?
Looed, may thanks, that's excellent work. I was completely wrong in my assumption regarding the Georgian personal numbers and thanks bugsy for pointing out that Nikoloz is Zaza's son and thanks also to ODR1 and Oopsi for their original posts (I'd previously noted Nikoloz had registered Frontera U.S. Ltd and Frontera Trading Ltd on 15/01/2020 and 16/01/2020 with a link in my post on 20/05/2020 11:59 but omitted the ID numbers). My error with the ID number means I may also be wrong in assuming Ramaz and Manana Mamulaishvili are older than Zaza and therefore his relationship to him which I speculated on in my post of 07/04/2021 17:20, but they still appear to be family members.
I must have missed the info in the submission you quoted as I took some time away from this chatroom. However, when I discovered Nikoloz's companies last year, it does answer my thinking it was strange that two new Frontera entities had been created in Georgia and owned by a Mamulaishvili. It certainly adds more weight to my speculation.
I think you can safely say it's lost. The best you can hope for is a protracted legal case which could go on for years but will ultimately lead nowhere.
Is our money all losts ?or Is frr biding their time and waiting for the oil price to get nearer 100 dollars a barrel to then declare that they are relisting with a new partner , does anybody know ?
Me again - I found a copy of Nikoloz Mamulaishvili passport in one of the djvu files. His D.O.B is 10/06/91 and his passport includes his I.D. number which is the same as you have - 01017019486
You can find the file on the enreg site, search using NM's ID number and the company number is 405373313 (Frontera USA)
WellOiled - hope this helps (originally posted by ODR1 & Oopsi Jan'20) and the ID number is the same ID that you posted at 20:07
"Two NEW frontera entities registered yesterday (links below). Assuming that is Zaza’s son. Very interesting. Answers on a postcard.
Company Name: Frontera USA LLC Legal form: Limited Liability Company Identification number: 405373313 Registration number: 15/01/2020 Registering authority: LEPL National Agency of Public Registry
Georgia, Tbilisi, Vake district, k. Kekelidze St., N5 Additional Information: Email: email@example.com The person providing the information is responsible for the authenticity of the additional information.
Information on the process of liquidation / reorganization / insolvency
it's not registered
Leadership / representation
Director - Nikoloz Mamulaishvili, 01017019486
Owner of Share Nikoloz Mamulaishvili, Shareholder, 01017019486 100%
SubjectCompany Name: Frontera Trading LLC Legal Form: Limited Liability Company Identification Number: 405373466 Registration Number: 16/01/2020 Registering Authority: LEPL National Agency of Public Registry Legal Address: Georgia, Tbilisi, Vake district, K. .Kekelidze str. N 5 Additional Information: Email: Email: firstname.lastname@example.org
PartnersOwner of Share Nikoloz Mamulaishvili, Shareholder, 01017019486 100%Commitment"
This lists the directorships under that ID (the links take you to the enreg.ge registry docs) - https://www.companyinfo.ge/en/people/165336
A bit on Georgian ID cards - a person can apply for a Georgian ID number upon reaching 14 years of age. They have a 6 month window to apply and "the personal number is assigned...according to the place of residence". I can't be 100% sure but it might be that age isn't directly linked to the ID number.
WellOiled - I can't find his ID number but this is from one of the submissions in the ZM v SN etc. case:-
"16. It has also been discovered that Mr. Mamulaishvili and his son, Nikolas Mamulaisvili, have surreptitiously formed their own companies, branded in FRC’'s name, to engage in business previously operated by the Company. This appears to be an effort to take over FRC’'s business and/or redirect proceeds from the business without authorization to do so. Upon information and belief, to this day these companies continue to produce and sell oil from FRC holdings."
I can't recall who originally shared info on the two companies set up involving Zaza's son, but I think those posts must have the ID number.
Welloiled, Not sure, I do recall a year or two back reading some U.S. report saying he'd been refused U.S. citizinship.
iif the telephone system was in operation here there would be some with minus nos on this bb :-)))
bugsy, just a thought, do you know if Zaza's son was born in Georgia because if he wasn't it could explain why the document did not give Nikoloz's personal number?
Cogs when it comes to making dough, Pudds is Mr Pilsbury lol...
Oh he'll get me back, always does lol
Coggy, I think that comment is way above Puddy's head,though.
A lot of deer in Georgia is there then Puds?
bugsy, I'm happy to accept the Nikoloz referred to in the document is Zaza's son as it does not give his personal number. I presume Georgia issues personal numbers chronologically so the lower the number, the older the person. If so, the Nikoloz Mamulaishvili (01017019486) I have referred in my post of 07/04/2021 17:20 is older than Zaza (01024002412). Please let me know if you are able to find out Zaza's son's personal number because it makes much easier to uncover a person's business links.
And they will walk away with all the doe and not one thing will happen to them
Rodney they have no morals
Met him too in London.
How can these guys s h a f t people they have looked in the eye and shared a beer with? Beats me :(