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Think the date of 15th October was banded around on here a few months ago as the date for the arbitration hearing, no idea if this is correct. Anyway October nearly gone and odds are the hearing has happened and hopefully a final resolution that is favourably to FRR. It's good hearing some on here regard this as the last big hurdle and some sort of favourable agreement with a Major could come along. That would be most welcome. I get the impression Zaza had been playing for time and hopefully clearing the decks of these sorts of problems will pave the way for the situation to get sorted without longer waits.
It was rumoured that in the Oxus case the Uzbek govt had the support of the US. They were supposedly owed a favour because they allowed US military goods to exit Afghanistan via their border, the result was that they unexpectedly won the case. Don't know how true that is though? I'd like to think there is a continuation of previous US support in our case (though I hope FRR hasn't taken too many liberties?) If there are huge hydrocarbon deposits to be had in Georgia, I'm sure the Georgian govt would prefer the lesser of two evils - a US company running the show, rather than the US withdrawing and Russian tanks rolling back in a couple of months later.
Excellent stuff Madpunter, it seems to me that arbitration is the last remaining hurdle preventing the consummation of a deal with BP, not the action with SH/O whenever and however that might take place and conclude. Noises off as has been said, but one, if the smoking gun is there, that could yield substantial damages.
Hope's action for shares is against SN/ZM not Frontera so that should not hold up any deal either. Our house detectives (bless them) need to focus all on discovering what they can about the arbitration proceedings.
I'm hoping the upcoming arbitration is a smokescreen and is all about the moving of the asset and getting it rubber stamped so we can move on with a JV or TO. I know it's unlikely at the arbitration process was started in Jan 2018 but things have certainly changed since then with T39, T45 and Dino coming into production in 2018, also we dont know what else has been going on in the field in well over a year.
oxus arbitration was final and did not end well.I think the arbitration has the possibility to make the other cases irrelevant.hope not but when things are viewed in a legal way,not honouring contracts and agreements rarely is seen in a good light. Here's hoping the arbitration does end in a compromise .
Ziggy - Your interpretation of the arbitration process backs up the assumptions I made in my post yesterday.
bugsy-b - That was posted on the 21st august :-
Posted by StevenP @ 10:02 :-
You probably already know this but Zurab Kiliptari is advising on our disputes as well as BP on:-
British Petroleum/BTC-SCP: Advising in connection with the construction, expansion and operation of Baku-Supsa Western Route, Baku-Tbilisi-Ceyhan oil pipeline and South Caucasus gas Pipeline projects.
Ziggy, have just gone through it again; may be there was a prior meeting before the October date, where it is t be settled, or could simply be a case of lost in translation...
What I do find encouraging is that in the space of a month and a half, we may well be in a position to hear about where we are on those two very critical fronts (arbitration and ADR).
Good luck to all the genuine folks here!
Bit confused re arbitration. The final sentence in auditors report re FRR litigation reads.....
.. The proceedings are in progress, next hearings are expected to take place in October 2019...
The Arbi rules / process reads as though its a one hit procedure i.e. submit claim , submit defence / counterclaim , Arbitrator appointed , ONE hearing , then decision with no appeal .
Cannot see anything that indicates multiple hearings as indicated above .
What about the tax rebate the georgian government owe us that would of gone along way to buy us time... instead of all this court action ******s of a smokescreen
Morning Bugsy.See one of his specialities is debt recovery.
Pleased he is working for us and perhaps he can advise on the best way for FRR to avoid debt recovery from 3rd parties.Poacher turned gamekeeper and all that.As long as we are paying his bills lol
Much appreciated Madp,
Had to translate all of that online. Importantly got this;
"A further hearing on the Frontera arbitration lawsuit will take place in October 2019, according to the Gas and Oil Corporation audit report."
Do we know if this hearing has haopened or when we might know? This is quite an important moment and step.
I hope there can be some resolutiom here, opportunity to move forward and not let something else drag out. Ths coupled with ADR, and we are in quite an important phase of proceedings.
Good luck to all the genuine folks here.
CF - My post from the 13th September from the Archive is copied below :-
Posted by Madpunter yesterday @ 11:04 :-
Posted by bugsy-b @ 20:03 :-
FRONTERA IS SUING GEORGIA
"29.AUGUST .2019 21:37 ECONOMIC
FRONTERA IS SUING GEORGIA AND SEEKING $ 3.5 BILLION IN COMPENSATION
Posted by Sycric @ 22:55 :-
Any suing of countries normally is on this. Cannot see if so seems like fake news.
The two posts copied above were posted on the 29th August and copied from the second and fifth posts down of the link below :-
IMHO the timing of the 'old news' posted in the link by bugsy-b and the fact that there's no listing in the link posted by Sycric points to someone trying to influence the case in the Ukraine.
See the 7th post from the bottom of the link below :-
I guess am thinking about Georgia, Block 12 and arbitration hearing in Sweden...
Does anyone have any info or links regarding arbitration?
Thanks in advance!!