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Wazza, you got off lightly.. I need this to come good so that I can afford a new shirt.
Tabs your post wed 21.34
Perhaps we don’t need to dig deeper and yes they do want us out of the way.
We have all been looking at this arbitration with anger, maybe the Georgians are looking at it from a business point of view. A last ditch attempt before its signed off to get a few more percent out of the job. Makes sense to throw 10 million on lawyers if your going to get back an extra 10 billion out of the job. As for wanting 99% of the block back, I wouldn’t go to an arbitration wanting 50% I would go for 99% on the hope I got 50% back. A bit like a divorce, she wants the house, car,boat,joint account and the shirt off your back, when I’m reality she gets the house and half the money.
Nice one NMH, sounds like it’s win win there, fingers crossed here even more so...
Have 5x more invested here...
In ggp ? Darn right I am ...... lol
I sold most of my GGP holding to buy into FRR. FRR will no doubt be ultimately the better investment choice....eventually ;)
Anyone else in GGP?
Amazing results announced, its gonna fly tomorrow...
Now if FRR could just give us something back I might just start to forgive AIM after all!
Gipps - If the accounts were in Houston, would they have had access via a liquidation in the Caymens? IMHO they needed to start proceedings in NY first under Chapter 15, but as I'm not a lawyer, perhaps Oopsi can clarify?
MP
Why would they not access the bank accounts ? I believe they have had access since May last year. I would have thought the first thing they would do would be to access them .
I don't reckon it's likely that it goes that deep that they are all in on it together. More likely they each are just out for themselves. Hopefully this will all be resolved soon with the completion of the Arbitration, in a positive way for us we hope.
Tabs, another RR I'm afraid.
Just says what folk want to believe. Balances out the dds, abgs and abcs I suppose but little else.
Tsbs - Either SH/O wants shares before FTI raid the accounts or if Bidzina Ivanishvili is linked to SH/O, he will want it to go on as long as possible. The lack of wages is bad PR for FRR, which helps the propaganda coming from pro-Russian sources.
Gipps - IMHO FTI haven't paid the workers as they haven't accessed the bank accounts. If my theory is correct there will be enough money in those accounts to pay off SH/O, which ends the cases in NY and Texas.
Looks to me that they would pay the legal team for the Arbitration first and not too bothered about paying the legal teams on the Hope case. We know that the Cayman legal team were left chasing for payment. This tells us a lot that FRR see the Arbitration as the main scene while the Hope case is just to keep him at bay/less important so long as they can keep kicking the can down the road on it.
A lot of all this Georgian PM stuff seems perculiar to me. It sounds like he was making a stab at claiming the field for himself but has since back down, depending if something that substantial was happening. I know it can be a bit inherent in their society out there to try and grab if you can. Odds are being faced with Russian tanks invading en-masse after a US pull out because of an ally treating them unfairly probably brought him around rather quickly, lol. If the Russians invade due to a lack of US presence then the Georgian PM, etc would see none of that oil or gas.
With the final Arbitration fee submission & statement due on the 20th Feb I think it was all this stuff should hopefully get sorted soon, hopefully in a decent way to FRR.
Gipps...if they can put workers to the end of the cue of creditors, cause oil revenues to be stifled without getting their hands looking dirty, Fti will look like they are doing the right thing in the eyes of Cayman's oversee......to chase our guys for money.
They want to break Zaza and Steve. Of course they do, because Hope is behind all this. He's pulling the strings of Dti.
JMO.
ODR ... MP ...
Why would the liquidators not pay the employees . that does not make sense at all. The only way FRR generates money is through oil and gas sales. If we don’t pay the employees eventually the employees stop working and nothing comes out the ground and nothing can be sold to pay the debtors.
I still can’t get my head around these 84 employees being sacked. We are all missing something here. To add to that we had entered into an agreement with BH , they would have used their own people .
These 84 employees Not getting paid I think could be a red herring.
I wish we had an oil worker on here that could quantify how many wells 84 people could run . My guess would be more than the 3 wells that were being flow tested.
FTI IMO sold the infrastructure to GG etc etc.
Because...if they did, then they are hampering means by which our company can pay off the debt, without bankruptcy.
So if true.......which board of directors.....fired staff ????
Maybe write a note to FTI and ask them, were they responsible ?
Madp: re the employees being paid up to April 2019, the article contradicts this:
"For the past two years, Frontera workers in eastern Georgia have not received their wages on time - either being paid late or not at all. As several workers have told me, this has led to a situation where some employees are owed up to 11 - and even 14 - months of wages."
The point about the oil revenues going to the liquidated company and then the liquidators not paying the employees has been suggested on here quite a few times and certainly has logic, but, if that was the case, then I don't understand why Zaza hasn't used that as the reason?
Or have probably been bought and "requested" to protest...
ODR it is interesting also that they are still listed as FRR employees. i have had previous contact with an employee on Linkedin but they have been on radio silence since Christmas (i have tried 3 times since December). if all are that disgruntled you would have thought they would have had something to say or changed their status....on the other hand maybe not a priority . GLA.
ODR - The court cases started in 2018 and the workers were paid up to April 2019, hence why they were owed 8 months wages in the December articles. At the end of April 2019 FTI took control of FRCC and the workers haven't been paid since or the Caymen's lawyers. IMHO the timing is not just a coincidence, the money to pay all debts has to be going into FRCC or one of it's subsidiaries.
This a fcking mess!
But if gogc or gg seizes operations aren’t the workers boycotting them and not frr?
Oops whats your gut feeling on all of this??