RE: Email from Hope offering his terms23 May 2019 14:03
Interesting read as it fleshes out the detail and history behind the 2016 legal conflict that eventually gave rise to the mediation agreement (and the appointment of an ‘independent’ Board member)!
While the information and Plaintiffs attempt to relate it to current Defendants behaviour (through a history and pattern of behaviour that alludes to OMF/Hope’s nefarious efforts to take over Frontera one way or another), I’m sure their lawyers will, inter alia, dismiss the declaration as unrelated matters to the current issues before the court......as, while Plaintiffs version of events will no doubt be disputed, it was an adversary complaint filing that was ultimately resolved through the mediation and therefore can’t now be revisited or hold any bearing on the current ‘facts/issues’ before the US Court now.
Irrespective of the above......the big takeaway for me was the inclusion of SH as one of the recipients of the email erroneously including “FRC's financial advisors at Rothschild & Co., that MND's board of directors had approved a resolution to acquire FRC itself with the support of VTB Bank, a Russia-based banking group” and therefore “MND had no intention of entering into a farm-in agreement”. This surely goes to illustrate a long term subversive pattern of behaviour by OMF/SH to ultimately sell/takeover FRC for a higher gain over and above the mere recovery of the loan notes. Additionally, where I had previously assumed SH appointing himself as FRC Board director was a matter specifically agreed in the mediation agreement, the revelation that the agreement wording stated the appointment of an ‘independent’ Director surely supports Plaintiff’s assertions.....as he can in no way be classed as independent!
It will be interesting to see how the US Court views this, as well as Defendants response/explanations!
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