Member Info for Looed

Phil_2018 – the important thing about ZM’s actions / plots are that the company now know about them and are aggressively pursuing justice for the company which obviously includes us long suffering shareholders.

I would hope we don’t need to get too fixated on a 2022 trial date. As you say, SN has indeed provided an investment plan to the GOGC. More recently the PM and Minister Turnava have made positive commitments about dealing with the ‘real’ FRR. Whilst those comments are in-part related to the prevention of an injustice, they have both been very clear that the decision is also a strategic play to show support for the Georgian-US relationship. No matter how much ZM continues to pass himself off as ‘International FRR’ (and likely continues to perjure himself in defiance of the T.I. by doing so), it’s hard to see that any support for ZM’s FRR achieves either of these strategic objectives for the GG.

Hi Cazbraz - absolutely, and they know that anything I get from them is shared.

I still get repeatedly blanked but I just keep on at them. I know it can be defeating not to get a reply but I know they have replied to a at least a couple of others posters here besides me.

You should resend your email - No. 7 might be your lucky number!

I believe the company is acutely aware of shareholder sentiment which includes the need for more formal comms. They hear it from me, and I would assume they hear it from others as well.

I think my post of 6th October still stands – “The last message from the company was released in the early days of the Appeals process. Those 3 Appeals remain at issue, so timelines are to an extent determined by the courts and the outcomes of these cases. The last message said that they will update all shareholders once they have progressed these cases. Should I hear anything I will continue to share here.”

Happy to continue to push when I can. Shareholders can also contact the company themselves to express their dissatisfaction.

There is an update on the Georgian Registry for FRGC. Previous documents from the Registry have detailed the seizures etc. stemming from the decision by the Georgian courts to stop Green / ZM from operating. One of the creditors listed in those documents is Bank of Georgia JSC.

It seems JSC attempted to instigate bankruptcy proceedings against FRGC which the Ministry has suspended for a purely technical reason. It looks like JSC used ‘our’ FRGC registration number ("Branch of Frontera Resources Georgia Corporation in Georgia") and so the legal form of FRGC was not established.

From the document –

“This decision does not establish the legal form of Frontera Resources Georgia Corporation. In addition, the identification number indicated in the ruling belongs to a branch of a foreign enterprise called - "Branch of Frontera Resources Georgia Corporation in Georgia." It should be noted that a subject with a similar name to the one mentioned in the ruling is also registered in the legal form of a limited liability company. Based on all the above, the identification data of the entity against which the bankruptcy regime was opened should be clarified.”

JSC has 30 days to resubmit.

Thanks Earsbern

If anyone has access to DocketBird, a new Scheduling Order has been filed.

There is a new filing in the ZM v SN case (the original case, not the 2 Appeals) titled ‘Trial Setting’.

A pre-trial conference with Judge Weems has been set for 2/21/22 to discuss “all aspects of trial with the court. Failure to appear will be grounds for dismissal. The Trial will be assigned by the second Friday following this date”

Google tells me that “In a civil pretrial conference, the judge or magistrate, with the help of the attorneys, may (1) formulate and simplify the issues in the case, (2) eliminate frivolous claims or defenses, (3) obtain admissions of fact and documents to avoid unnecessary proof, (4) identify witnesses and documents, (5) make schedules for the submission of pretrial briefs and motions, (6) make rulings on motions submitted before the conference, (7) set dates for further conferences, (8) discuss the possibility of a settlement, and (9) discuss the consolidation or management of large, complex cases. After the conference, the judge or magistrate issues an order reflecting the results of the conference, and the order controls the future course of the case.”

This doesn't preclude the possibility of a pre-trial deal or other activity that can affect the case.

It could be something, could just be gossip, but talk of a change at the top of the GG. Check out pirveli TV site, maybe some of the others. Its all 'reliable sources' so could just be wishful thinking.

WHamBoy – One thing we are yet to see in Texas is ZM reply to the Contempt application, which the company filed mid-August.

In both Texas Appeals all the filings now seem to have been submitted so it up to the judges now to decide how these progress. It is also possible that developments in Georgia could quickly sideline the Texas cases.

I am not sure there was ever any chance the opposition would win, and I didn’t see any call by the US or EU for a regime change, just ongoing calls for more accountability from the GG as they slowly move towards the west.

By his own deeds ZM would now seem now to be a pariah even to his former friends at the opposition. This can only be a good thing. A win by the opposition could have been dangerous for us had they still been on good terms with ZM.

As you say, let us see if the GG follow through on their positive statements regarding FRR and which they explicitly linked to their relationship with the USA.

Also, both sides have requested the courts take oral arguments. The court can agree or decline these requests. If they agree then that could also add to the timeline as they schedule more hearings.

WHamBoy – This and the Appeal against Arbitration are both ‘expedited’ so perhaps 1-6 months, but it seems there is no set timetable, not that I can find anyway.

The reply brief in the Arbitration Appeal was filed mid-July and the public record hasn’t been updated since then. I am not sure if one case is dependent on the other as they have separate case numbers. Perhaps now this final reply brief is in we might see things start to move.

Outside of this there is the appeal in Georgia, and as the company stated in their message in early May, there are things going on that are not on the public record.

ZM has now filed his 'Reply Brief' which you can access here -
https://search.txcourts.gov/SearchMedia.aspx?MediaVersionID=aefd6626-97e3-4fb0-98d4-f9ee547c51b2&coa=coa01&DT=Brief&MediaID=42d15004-8d65-40b9-ae6d-f2b69f6cbc6a

Aurora1 - The last message from the company was released in the early days of the Appeals process. Those 3 Appeals remain at issue, so timelines are to an extent determined by the courts and the outcomes of these cases. The last message said that they will update all shareholders once they have progressed these cases. Should I hear anything I will continue to share here.

Monti / Chris572 – there is a process in place to ensure any information is passed ‘up the chain’, and passed as speedily as possible. Keep in mind the company also has an in-country legal team that have eyes focused on the situation.

The latest letters are yet more evidence of contempt of the T.I. by ZM, Green and those associated with them. As others have rightly pointed out, ZM days as a public figure would appear to be over. He is continously ignored by the government, he is no longer a sought-after talking head for the opposition, and the courts continue to find against him. Also, don't forget the problems ZM is facing in some of his other business interests (Rusmetali Ltd) and it adds up to a grim picture indeed.

I am not sure why he thinks an EU appointed Ambassador to Georgia is going to get involved in this, but increasingly desperate times would seem to call for increasingly desperate measures.

Specialtyrtp is owned by an ex-employee, so its possible they are still working with the company in some capacity.

This is the same ex-employee who was 'wrongly served' in the YA case which resulted in the case being vacated and sent back to the UK courts for YA to try again.

No explanation why, but the 2 oral hearings originally scheduled for 15/09 have now been reset -

"A hearing on Judgment Creditor’s Request for Ruling on Motion for Recognition of Foreign-Country Judgment is reset for oral hearing on October 28, 2021 at 10:30 a.m."

And

"A hearing on Defendant Steve Nicandros’ Motion to Compel Entry of a Scheduling Order and Request For an Oral Hearing is reset for oral hearing on October 28, 2021 at 10:30 a.m."

Here is the link to the reply brief - https://search.txcourts.gov/SearchMedia.aspx?MediaVersionID=236b74f6-f2f2-4e48-a334-68b8502f5606&coa=coa01&DT=Brief&MediaID=d8154b81-9b96-4bd6-ad47-223bdc91909b

Appellees (SN etc.) have filed their reply brief and have requested an oral hearing. With all the required briefs now filed, the status of the case is now 'ready to be set'.

Hopefully the reply brief will be uploaded over the next couple of days.

Also, there will be a couple of Mourant related procedural hearings today as that case advances.

Thanks Bigun2, with regard to Hope - To put a complicated setup in in very basic terms, Hope was involved in a different - and now liquidated - entity to FRUS.

Bigun2 – our shares are with the parent company, of which FRUS is but one of a number of entities under this corporate umbrella. The only danger to shareholders losing this asset is if ZM and his helpers manages to steal the asset - which the courts have thus far prevented.

As for bringing the story to a higher level – it doesn’t get much higher than the multitude of high-ranking members of the US Congress, as well as the recent and positive comments from the Georgian PM, Deputy PM and Energy Minister.

The messaging from the company is essentially “as soon as we realized ZM was up to no good, we fired him and took steps in US and in Georgia to aggressively pursue and prevent him from converting the asset, and so protecting shareholders and the company. We will let you know more when we can but let us nail this guy and his helpers first”. To my mind that is exactly what they are doing.