Member Info for Njames

Meanwhile, SN's latest court papers press for a hearing on his motion for a new trial on the recognition of the Cayman judgment. You have to hand it to the guy, if he really doesn't want to pay what he owes, he will go to the ends of the earth, and legal procedure, not to. Mourant may ultimately have to be satisfied with having driven FRC to liquidation, but with no monetary recovery.

@Looed - understood; many thanks for the highlights.

@Looed - are you able to share any takeaways from the report that may not have been in previous reports?

Threw in the towel with FRR or with Starage?

With Starage, he wouldn't say much, just that he got a settlement, but it was confidential.

With FRR, there was never any public statement about the reasons made by the Nomad or the Company, but if I recall correctly, the company was issuing statements about the lawsuit against Hope in the Caymans that proved not to be completely truthful, or perhaps it was other public statements about drilling results or interest from third parties for a financing or other deal that the Nomad found out to be false. They don't take very kindly to being lied to by the company since it exposes them to liability to investors. I remember there was a mad scramble to find a substitute Nomad which proved fruitless, so then there was the last RNS where they promised to keep investors updated, and we all know how that turned out.

Starage said he had pursued the Nomad and got a settlement. Also posted a link to a bootleg copy of the arbitration ruling. Was shouted down by many on here and even had the post deleted, but turned out to be 100% correct, it was the exact ruling that later emerged in press reports and lawsuit discovery after a year of dissembling by ZM.

@Looed -- thanks for this, which closes the books on the company, finally. Thanks also for your efforts over the years to keep this board informed. All the best.

There was a video news report back in October that was posted on here that showed a screenshot of SN's letter to Congress lobbying against the Megobari act. Can't find that post at the moment, but the screenshot showed SN phone number and email address at TXN. For any former FRR investors who haven't had enough, I'm sure he'd be happy to take your money if you reached out to him.

FTA posted by Phil -- "Notably, Nicandros told the US Congressman that TXN Energy is “preparing to commence a new $100 million investment program over the next two years that will bring one of our six giant oil and gas fields [in eastern Georgia] into commercial production.”"

Wow. SN always had a tenuous relationship with the truth. That relationship is now completely divorced from reality.

@Looed or @Keysersoze, any further insight on whether the proceeding took place on the 19th as per previous intel?

Hope got the satisfaction of putting the asset owning subsidiaries in which he held debt into liquidation in Cayman, well before the lawyers that represented FRC in Cayman against Hope threw FRC into liquidation for failure to pay their invoices. As far as we know, he got no monetary recovery from any of it.

TXN appears to be a mirage, created by SN to give the appearance of having operated in Georgia since 1997 with the same website pictures, "Black Sea strategy." To what end this fiction has been created, we don't know--pressing the Georgian government for a deal involving the former assets, lobbying the US Senate on behalf of the current Georgian government in re the MEGOBARI Act as a paid consultant or to curry favor, or both?

The Liquidators’ application for an order for dissolution will be heard by the Court on 19 January 2026. Once made, the dissolution order will be published on the liquidation website: https://www.deloitte.com/cbc/en/services/consulting/services/frc-liquidation.html.

This will formally close the books on the company.

Walls closing in on 🌈🤡 favorite "S"a"N"ta.

303 billion barrels of proven crude oil reserves in Venezuela vs 36.7 million in Georgia says there's nothing for the Georgians to worry about.

We know Rainbow's 🤡🌈 favorite is "SaNta Claus is Coming to Town."

Not unusual for SN at all. Those lawyers will have to fight to be paid for work already done.

Rainbow's "favorite SaNta" making an appearance in costume at 1:23 timestamp. 🤡🌈

Good stuff, thanks!

Frontera's former PR company Yellow Jersey that sued for unpaid fees (what a surprise, right?) has upon its own motion had the case dismissed without prejudice. In view of the pending liquidation, assuming they concluded it was no longer worth the trouble since collection would be impossible.

@Looed, is the court date 18 November 2025 at 2:30 pm (Cayman Islands time)?

Wish they'd crack on with it.