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Pt 2 of 2
11. Contrary to its agreement with Frontera, and in breach of its agreement with Frontera, YAPN filed a false claim in the English Courts seeking recovery for the debt it had voluntarily extingished by its debt-for-equity swap. YAPN’s unethical conduct in defrauding the English Courts, and now seeking to defraud the Courts of the State of Texas by seeking judgment for a debt it had exchanged for equity is so egregious that it is repugnant to the public policy of Texas — conduct that also justifies non- recognition of its judgment.
PRAYER
WHEREFORE, FRONTERA RESOURCES CORPORATION PRAYS:
That this Court:
1. Enter judgment that the “judgment” for which Plaintiff YA II PN, Ltd. seeks recognition be denied recognition;
2. Grant it any other relief, at law or in equity, to which it may be entitled.
Pt 1 of 2
(MadP, is Pt.7 onwards what you where referring to in your earlier post?)
Defendant Frontera Resources Corporation (“Frontera”) respectfully states:
GENERAL DENIAL
Frontera enters a general denial.
AFFIRMATIVE DEFENSES
Without waiver, Frontera states that all pleas and defenses are plead in the alternative to the extent any plea or defense conflicts with another.
3. Frontera denies that all conditions precedent to YA II PN, Ltd.’s (“YAPN”) alleged cause of action have occurred or been performed.
GROUNDS FOR NON-RECOGNITION
4. Pursuant to the standards for non-recognition of the judgment of a foreign nation, the “judgment” that YAPN seeks to have recognized does not meet those standards and may not be recognized.
5. The holder of an alleged final judgment issued by a foreign country — not a U.S State or Federal court — must always file an original suit, TEX. CIV. PRAC. & REM. CODE §36A.006(a), NCCUSL Cmt. 1; UNIF. FOREIGN-COUNTRY MONEYJUDGMENTS RECOGNITION ACT §6, Cmt. 1; RESTATEMENT (FOURTH) THE FOREIGN RELATIONS LAW OF THE UNITED STATES, §482(a); and obtain a final judgment that determines that the judgment issued by a valid, recognizable foreign country is entitled to recognition by the State of Texas. TEX. CIV. PRAC. & REM. CODE §36A.004, NCCUSL Cmt. 2; UNIF. FOREIGN-COUNTRY MONEY JUDGMENTS RECOGNITION ACT §4, Cmt. 2.
6. Recognition is neither mandatory nor automatic and the defendant is always entitled to an opportunity to defend the suit seeking recognition. TEX. CIV. PRAC. & REM. CODE §36A.006; Society of Lloyd’s v. Ashenden, 233 F.3d 473 (7th Cir. 2000).
7. YAPN’s judgment is the result of material fraud, which is sufficient unto itself to prevent recognition.
FIRST AMENDED ORIGINAL ANSWER YA II PN, LTD. V. FRONTERA RESOURCES CORPORATION AND PLEA FOR NON-RECOGNITION OF FRONTERA RESOURCES CORPORATION PAGE 1 OF 3
8. YAPN’s claim that a debt was owed to it on June 24, 2021 when it sought a judgment against Frontera before the High Court of England & Wales was false and its presentation to the High Court constituted fraud on the High Court.
9. YAPN and Frontera Resources Corporation, prior to the filing of the High Court claim, agreed to exchange YAPN’s debt claims for equity in Frontera Resources Corporation, thereby extinguishing YAPN’s debt claims.
10. Thus at the time YAPN filed its claim in the English High Court on June 24, 2021, its debt had been extinguished by its agreement with Frontera to exchange its debt for equity in Frontera. See the Affidavit of Giorgi Kalandarishvili, Chief Financial Officer of Frontera, and the Affidavit of Steve C. Nicandros, Chairman of the Board of Directors of Frontera Resources Corporation and its Chief Executive Office at the time of the debt-for-equity exchange.
Madp frr entered into the agreement with YA. knowing full well what would happen. They also new what was owed to hope
Thanks to both Looed and MadP for clarifying, am believer of life that “if” we owe monies, you pay it back. But your explanations does show YA as not squeaky clean.
GLA real holders
Lifeishard - this case is primarily about due process. The company argues, and the courts seem to agree, that Texas has a specific set of checks and balances that must be followed if a foreign debt is to be recognized which then makes it enforceable and which to date, YA have failed to follow.
Lifeishard - YA were taken to court for forward selling shares and very quickly settled out of court. IMHO this forward selling trashed the share price and possibly stopped FRR raising money. FRR may have been in a much better financial position and the court cases with SH/O and FTI may not have happened. Therefore, I do not think it's bad karma not settling with YA, but the bad karma they gave FRR biting them back.
Thanks Looed
If our company owes monies, then deals “ should “ be struck to pay it back, its bad karma to try and roll anyone , I’am sure we all feel like we have been rolled over at times, I certainly have, but am more of mind there is more good than bad, so staying hopeful.
Come “S”aint “N”ick, Christmas is coming
GLA real holders
On 16th Sept I posted –
“Another batch of filings by YA. This batch attempts to show the courts the repeated efforts of YA to get FRC to comply with their discovery. YA have filed an "Emergency Motion to Compel" discovery ahead of the trial set for 6th October. No counter filing by the company in response to this as yet.”
In total, approx. 10 motions and supporting exhibits were filed by YA in September in support of the Emergency Motion to Compel.
Back in July, a hearing was held on a YA Turnover Motion (another kind of enforcement ploy), and we already know that the company prevailed. In the September filings, YA had to make the following admission regarding the hearing on the Turnover Motion and it does read that FRC won all of its arguments on that day -
(In the following, YA is the “Plaintiff”, and “Abstract Judgement” just means YA filed a 1-page summary of the original UK judgement)
“On July 10, 2023, a hearing was held with the Court on a motion filed by Plaintiff wherein it sought a Turnover Order after an Abstract Judgment was issued. Plaintiff also sought Sanctions against Defendant for failing to respond to earlier propounded discovery, despite being compelled to do so by the Court. At the hearing, the Court determined that a Turnover Order was premature, and sanctions were not warranted because the Court had not yet recognized the UK Judgment, a condition precedent to the Plaintiff’s requested relief.”
We cannot rule out the possibility that the court might decide to recognize the debt. Balance that with the fact that YA’s case is (or was) almost entirely built around enforcement, YA’s dismal record of multiple failed motions, and the fact the court seems to clearly agree with the company regarding the need for recognition as a precursor to enforcement. I wonder how confident YA really are?
You can tear them up , do what you want but you ll still be on the register
so yeah , brill thing to do wish i had my share certs to tear up
is that similar to “ oooh , I could crush a grape “
That would be a stupid thing to do wouldn't it ...?
Having had these shares for so many years, should i tear them up and forget about them.
Yes i agree
just look what has happened to bidstack
i was in there a few months back
but needed some money
thank the lord i sold
feel sorry for all the peaple
just a conman that james drappper
all the best to us and them
Sell the lot for it makes no sense to return to AIM which is
a casino. So is the rest of the market as explained by
City Professionals. Premium Bonds are an investment.
Stock markets are a bet.
You would like to think frr selling the lot rather than getting the 100 M investment would be the better route to go down in the event of a return, surely SN must’ve have had enough now. Sell whatever licence we have now as the money would make all the court cases disappear in a flash as well as us.Only problem we have is the crazy Ivan next door
The Big Boys are trying to mop up any bargain in O&G worldwide and our FRR
deserves attention. Dulwich, you may be right and if we are lucky then all is
bright and beautiful sooner than later. Good news keeps us going .
WHamBoy – I agree with tsbs1 that there is more chance of a Close Encounter of the Third Kind than an encounter of any kind with FRC if the dockets, dates and open litigation remain as they currently stand.
On the YA case, recent / emergency motions filed by YA remain open though they could be agreed / denied at any time. That said, sometimes motions like this remain open without any apparent resolution, at least on the public record.
YA remains on the docket for 6th October to hear FRC Motion for Trial on Merits and the YA Motion for Summary Judgement. It’s hard to follow as so many hearing requests, but it seems both these hearings are at the request of the company.
The FIC case is continued to October 2024.
To date, only the ZM case has gone to trial. All other cases have settled out of court.
After the actions of the UK PM re both getting a new O&G field . The extention of hydrocarbon cars and from memory a new coal mine. Add to this the actions of many countries which are not widley reported in the UK press. It seems to me that the race to net zero has slowed down. Then add in the reduction in production of OPEC + which is more than just the relationship issues with the russians. The virtual stop to new wells during Covid and a very slow pick up afterwards. it is beginning to paint a picture. Quite what that picture is I think still unclear but the march away from O&G is certainly under review . Then add in western governments being scared of energy security and quite rightly so even going against the sanctions on Russia - there has been about a 35% increase in puchase of Russian O&G by EU member from the start of sanctions!
From what I have read the big boys are trying to mop up the easy O&G around the world.
If what I see through murkey vision of the picture of the future of O&G I think the future looks bright still if the legal stuff all works out.
What do others think of the changing picture?
I think we need to temper with our own expectations if we think that the company may communicate with us after the YA court date (assuming this is closed/settled satisfactorily). Why? Well, I think the key case is the FIC+Official Receiver vs SN et al which is pushed forward to Feb 2024 (if my memory serves me well).
For me, Unfortunately, the YA case is all deja vu again. Recall all the hype leading up to the ZM injunction case: Everybody proclaiming that there were dark forces at work and therefore secrecy was required to prevent ZM and affiliates (Hope, Georgian Govt etc) sabotaging the company until this case was concluded. Well, FRR comprehensively won against ZM with a Permanent injunction plus breach in his Employment contract.
Overall we are making progress and we just need to trust the legal process to close out the remaining cases (even if blindly). I still think the best signal the company can send us is via resurrecting the company website and using this platform to update us (if this is possible).
Just my ponderance on further reflections.
I see your medication has worn off tabs, keep the faith in all things are bright and beautiful all companies great and small?
GLA real holders
Motley Fool , TW etc. and Mapp were belittled by influencers who
were blinded and thought ZZ was the One and Only. Similar Situation
on OMI, etc. All found a hole in the ground with an eternal stream of
lucrative dreams for gullible fools . AIM is high risk without any rules.
Sadly whamboy theres more chance of aliens arriving
If we don't hear anything in next 2 weeks, then I really will be annoyed.
Most cases are over and hope case imo should not stop the company issuing an update.
In the interim period,I don't see why the company can't set some expectations.
So what’s the chance that we are going to hear something from the company directly after the YA case has been completed, on or soon after the 6th October?
It would be lovely to finally hear that we are about to get some real hard cash back into our bank accounts. Am I expecting too much?
RR "You have to be in it to win it,"
"Sell all your investment and invest in FRR."
I sold and naively explained and most likely sounded like a
short-seller. Reaction "Do you suffer from self-harm?"
I bought back and topped up. That was the beginning of the end.
Was RR a paid influencer? Nobody seems to know or has the guts to
explain. T.W. on ADVFN had the alarm bells ringing and he too was
belittled. Years of tension and legal sharks taking advantage.
If J. Hunt is looking for investors he has to clean up Finance first.
It worked well when you made 100 posts a day about trusting Zaza on your Rainbow Rider account.