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SN's birthday tomorrow.. He is 64 years old....
Mrs (Jennifer) Nicandros... Your husband is 64 tomorrow.. You two have been married now for 41 years..
Can you please do us lot a huge favour... Tap him on the shoulder.. Look into his eyes and tell him to do the right thing here... Tell him to look after the faithful people who have supported him over the years through thick and thin.. The people who have stood by him.
Now,when all this is done and dusted, whether he retires to his Texan ranch, Or goes high tailing after an afterlife in US politics, He can do so with his head held high and his conscience clear, He can leave this complex, murky world of Caucasian hydrocarbon adventuring as a man, as opposed to a treacherous scoundrel...
Njames - no, it does not. Parent and subsidiary are separate legal entities. That is why FRC-C is under liquidation while the other entities are currently active. You are correct that as former directors of FRC-C they will be communicating with inquires.
Interesting, Looed. This means that other entities named "Frontera Resources Corporation" have been created outside of the original structure as set out in the arbitration document and the AIM listing document. On what basis would the directors of an entity outside of the corporate structure of FRC-C have standing to engage with the liquidators of FRC-C, other than as former directors responding to inquiries by the duly appointed liquidators?
The message that ODR received from Deloitte is correct. However their comments relate solely to FRC-C as the entity currently in liquidation. They have no powers outside of Cayman / FRC-C.
FRC continues to exist as a separate legal entity in other jurisdictions and the BoD of these entities remain in place. In other words, the BoD are currently former directors of FRC-C but are current directors of the other FRC entities.
It is as directors of FRC (elsewhere) that the company can engage with Deloitte.
The Cayman entity is subject to Cayman law and the other entities are governed by the laws of their place of residence, not Cayman.
If these other entities are to be liquidated then parties would need to commence liquidation proceedings in accordance with the laws of place of residence and would be subject to many factors such as corporate structure etc. Liquidation in Cayman does not automatically mean everything else is also liquidated.
Finally, there are no veiled threats from the company about contact with liquidators. It is an individual decision to contact or not to ask questions about your holding. They said if you are going to also make accusations of serious wrong doing (i.e. SN is a serial shoplifter from Wollies) then you should have evidence to back that up. Otherwise it's a baseless accusation.
This board is a comedy show. Good lad ODR let’s flush the bastards out
The company say nothing at all for 5 years and you lot have go at ODR for asking that question
Some of you need to look in the mirror at yourselves
You’re quite happy for the company to keep peddling through looed that they are working to get the company up and running again. Meanwhile the liquidators are doing what it says on the tin liquidating our company
Totally agree 100 % too many people turn like the wind no morales just a lot to say and well out their depth and should stick to playdo or Airfix
Master Plan. ZAZA found an opportunity on AIM and the FCA seems to turn a
blind eye.
ON-line mess causes stress, poor health . divorce and death.
Master Plan ? Get us all on-line and everything will be fine? More break downs. fraud and crime.
How many of the best drop out in despair . Replaced by staff who does not care.
ODR
Liquidators read this board , then why not just refer them to Looeds post to comment on if you know that as a fact .
Never said passing on the Co message was sharing a secret .
Its the passing on the message …for conformation / denial of the Co’s “words” thats possibly risks establishes a new mindset in the Co that we don’t want .
Jeez its only a couple of weeks ago that you told Tenners to step back from contacting Delloites with a post criticising the Co’s behaviour but ending with …..
I think communicating with the liquidators is pointless though as there is no potential upside to it as far as I can see.
Having said all this, I currently see no alternative than to wait and see what happens with everything crossed that SN is doing what is morally right. He keeps assuring us he is .….
Then we get a couple of supportive messages via Looed and you go to Delottes with the last one of them .
Its not ill advised to ask questions as such , but there are neutral questions and questions that could be construed as negative intent against the Co …..by the Co at a critical point for us .
ZZ tops, a great write up, a very real chance of no updates, but I disagree that our leader will deem something like this from ODR will make him think , thats it, they get nothing, our leader knows full well the angst we are going through here, life savings to some, huge amounts invested by some, years of savings in my personal situation.
ODR carried out his right to approach Deloitte.
Only a few real holders actually understand that nothing we do or say will affect what is now fully underway behind closed doors. Am glad to say I am one of them who do understand we can do nothing.
ODR has just set him/ herself up for some barricking if updates stop, I hope this board doesn’t target ODR though, as this saga is getting to us all.
Hoping Looed will still receive updates, time alone will tell this tale?
Keep the faith folks our leader fights for us 🙏
Ziggy: thank you for explaining your thinking.
Can I just say that anybody who thinks that the liquidators are unaware of what is discussed on here are naive too. As if me passing on the ex-directors statement to the liquidators is the sharing of a secret and could mean that the line of communication via Looed is stopped is laughable.
Remember that we are all equally keen to know wtf is happening to our investment. The reason we don't know is that the ex-Directors aren't telling us. What we do know is the Company that we are invested in is in liquidation.
And some of you think that me asking a simple question of the Liquidators is ill-advised!
What Ziggy said
ODR
I really do not understand what you hoped to gain by contacting them with the message .
Two parts in your reply to breakdown .
First
The Liquidators are not in a position to comment on the statement you have provided
Nothing in their response indicates that no communication or negotiations even , is taking place between Deloitte and the former directors of FRC.
Nor does it indicate they are not .
Not sure what you expected them to say other than a neutral response
I would suggest that to expect they would confirm or deny is naïve
The rest
Their comments are std speak outlining the current ( already known facts ) re the former directors standing .
I accept its your complete right to communicate with the liquidators.
However if those from the Co stateside who are communicating with us via Looed are now thinking everything we say will be forwarded Deloittes for comment I assume that chain of comms will cease to operate and we become viewed by them as the enemy .
You have thanked Looed many times for the messages he has passed on , presumably you accepted them as genuine comms from the Co .
We all have frustration , disappointment ,anger even but with whats being possibly played out behind the scenes I think there is nothing to be gained by us interfering / disrupting / in the process at this stage .
We are already out with the Caymans entity, but we are… possibly ….still in stateside, who knows !
Getting involved now other than seeking neutral information on the process at this stage will not affect …out …but may affect our chances of staying in .
Really don’t understand your thinking on this one .
You have learned nothing re your enquiry but it is at the possible cost of irking those you need to be on your side for any sort of worthwhile outcome in this saga .
100% Njames saying real possibility of no further updates
There is nothing illegal about reaching out to the liquidators, despite veiled threats mentioned by Looed's source a couple weeks ago. It was probably unwise, however, as I'm sure it will have a chilling effect on the source and there will likely be no further messages passed on. That said, the messages didn't contain anything of substance, just assurances that the company was working hard to put all the legal issues behind them and that they were working on behalf of all stakeholders. No concrete evidence of that was ever seen beyond what could be gleaned from various court records. And some of that, like the settlement with Mourant, was illusory since it was all thrown out the window and resulted in the winding up order.
Truth is, no one really knows what's going on entirely except SN, who is no longer in control of the company. This has historically been a schizophrenic company. They failed to show up at arguably the most consequential hearing in the company's history, the arbitration, and lost on almost all issues. Then they fought like the dickens to save the company from being stolen by ZM's machinations. Then let the company go into liquidation without challenge. Is it all part of a master plan?
FCA should be concerned, Far too many AIM shares follow the same pattern.
A scam is promoted with enthusiasm and gambled up and down. Who allows this to
happen.
After the gang of 4 went to see the oilfields it encouraged a lot of worried investers to pile more money into FRR after their glowing reports which turned out not to be true just shows how this company pulled the wool over everyones eyes.
“O”h “D”ea”R”,
Your right and everyone else’s right to do as they wish, got you anywhere? I think not to be honest.
I’am removing all doubt again here , but am I missing something possibly??
Your so called response as below from Deloitte,
Please be aware however, that as set out in the Liquidators’ notice to shareholders (Frontera Resources Corporation - in Official Liquidation | Deloitte Cayman Islands), the directors have no authority or power to act in relation to the Company, and therefore any statements, other than what is found at that link, are not made on behalf of the Company."
Considering an awful lot of posts don’t believe in Looed or the updates as being real, no proof other than our super slueths on FSHG team who have also been doubted at times, then how can anyone state the following …….The former directors of FRC have issued a statement to many of the shareholders today as below:
They haven’t issued anything to us.!
Don’t let this ruin your weekend folks, this means nothing at all in my eyes.
Team Looed & our leader and his team for myself , back to my port.
GLA real holders
ODR, you needed to do what you think is right for you, and don't let anyone intimidate you otherwise or attempt to scare you. Any suggestion your efforts can be "constructed as illegal and interfering from the FRR Team" is laughable. Some live in cloud coukoo land. Not only have the FRR team been radio silent for the last 5 years, a court of law has ordeted the removal of SN and the board of ANY CONTROL. If they felt so strongly they might have bothered turning up at court to challenge that decision. But they didn't.
Your response from Deloitte speaks volumes, and puts into context any comments on this board said to be from "the company". If they wanted to give us a message, they would, directly!
You won't get an answer because they have no idea. They'll just throw out vague accusations they can't justify because they have no idea what's going on. I'll inject some balance here and say that was the most sensible thing anyone here has done in the last two weeks. No I can't justify that statement either because I too have no idea what's going on. But let's have more BS statements about how FRR might have hurt feelings because there's not a lot else to be gained from this clown show and I could do with the laugh.
So I asked them to clarify a statement in the public domain. Why is that illegal?
And trying to get independent confirmation of what we are being told. Why is that not very wise?
Not a very wise thing to do ODR, IMHO.
> can be constructed as illegal and interfering from the FRR Team
The meaning of your sentence is not clear. Please clarify so we can all spend Friday evening drunkenly arguing about it. Thank you.
I will stick with SN.
ODR1 - with respect but sending out that email to Deloitte was silly and can be constructed as illegal and interfering from the FRR Team. I am not sure what you were trying to establish…..