For what little it is worth,3 May 2020 19:53
While without definitive proof, would be difficult to be confident on the basis of ZMs recent statement (as posted by DomFok), I was reassured. Didn’t expect ZM to give away serious details but could see that he was pointing to shortcomings in the state’s position, namely that they were celebrating over very little. The Government had put a lot into trying to run FRR down. It was their saving face. I could imagine ZM finding it ridiculous.
Reposting passage from that article and B-2-0 post, too, hopefully keeping us focused.
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Zaza Mamulaishvili does not welcome these statements, as he explains that the main financial requirements of the arbitral tribunal have not been met by the state, and most importantly, the corporation has not been able to succeed at the international tribunal. Consequently, in his view, this cannot be considered a victory for the state.
"The vast majority of the state's demands have not been met by the international arbitration and it is unclear where the state's profits against the Frontera can be seen. Most importantly, none of the financial claims were met by the state court, a claim that has been challenged since 2013, as if we were misleading the distribution of oil and gas products to the state, as if we were not paying the state the money it deserved. The amount demanded by them exceeded 100 million dollars - they refused. In addition, they demanded the cancellation of the contract, which was not satisfied. Instead, the court granted the state a very trivial matter, which we did not even dispute. We pay the state the advance tax on the entrails every year, and this advance, which was not a large sum and is about $ 200,000, had to be paid to us. It's just that the state has our debt and we were telling it to reduce that debt in that amount. The arbitral tribunal granted this request to the State.
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B-2-0’s post:
10 months ago ZM signed a goodwill agreement as part of the OOCS, a separate company was created to manage the OOCS contract, the goodwill agreement is part of the OOCS and honours the outstanding claims being made by the GOGC against FRR, and to be explicitly excluded from the OOCS and protect the contract stakeholders. The Arb has settled those claims, and particularly in relation to the significant $100m claim which has been rejected. The payment to be made is for the outstanding taxes $200k and for the reimbursement to the GOGC for FRR's portion of the costs - split 50/50 as the GOGC paid the fees upfront. FRR have acknowledged the handing back of the unused land and as part of proceedings and withdrawn their counterclaims and bringing proceedings to a close. GOGC are threatening to terminate the PSA relating to the land in question and request that FRR honour the Arb resolution. GOGC will no doubt be seeking certain resident SM's to engage in negotiation of their newly acquired land I am sure. Most importantly I trust everyone is safe and well in these very challenging
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