Member Info for OneDayRodney1

Good morning all
Moldova?! And we claim to be "in the fourth year of its exploration works". I thought the Moldovans had said we weren't doing anything. And Zaza says we have no employees ... It would be great if we have been doing anything in Moldova to be honest given that it looks like Georgia is lost, but it seems highly unlikely given we have no money (except for lobbying it seems).

Thank you Ziggy.
So, having sold the asset (potentially incompetently for a pittance) in settlement of one creditor claim they're now going after the Directors to endeavour to find avenues to get all the creditors paid off. What a shambles ... as is the case with FRR with everything it seems.

Why are the liquidators commencing legal proceedings in the US against the Directors of FRC?

Ziggy/Zen: a liquidator's responsibility is to sell the asset at the best realisable price, so either they thought it was worth just $6m, or it is worth $6m, or they have carried out a dereliction of their duties.

Looed: many thanks for sharing this reassuring message.
It includes: "The company has an extensive and experienced legal team in the United States and Georgia that are focused on protecting the company's assets."
Surely the main area of concern is what has happened in the Cayman Islands; yet they don't mention any legal presence there?

Madp: how do you know he is a good lawyer? From his resume?

Why is he wasting his time: he isn't. Lawyers never "waste" time. Some mug always pays for it.

Why is he wasting his money: show me the evidence he is wasting HIS money. You can't. You will only find evidence of him making money. That's what lawyers do win or lose.

Get real mate.

Ziggy: agreed, but the GG have to approve the transfer....

Thank you both.
If we did by some miracle come out of this ridiculous catastrophe, of a self inflicted situation, with the asset intact then imo an potential investor wouldn't give a toss about the past if they think they could make a decent buck.

But the tragedy is that that situation seems extremely remote.

Thank you StarRage.
Forgive me if I have this wrong, but how can the 14 May hearing have any bearing on what has already happened in the Caymans in March? That was when the asset was lost wasn't it?

Since we have a few of the most knowledgeable posters tuning in this evening, can I ask if there's any potential path out of this mire for us all?
My thinking is that if the GG take back control could they, under the weight of political pressure from Uncle Sam, give the 1% back to us. Is that a conceivable, albeit improbable, way out.
Or can any of you think of any other possible scenarios that leave us shareholders with a possible lifeline?

mapp: you may find it doesn't take much time... ;)

StarRage: you are biting back at some of the posters who have abused you in the past, and are seemingly almost gloating in so doing. Given I was also subjected to some abhorrent abuse for just giving your views a fair hearing at the time (which they merited), I completely understand your hurt. However, imo there's nothing to seemingly gloat about. It now looks certain that many of us have lost a huge amount of money here and it is just so sad for us all. My personal opinion of the men who have done this to us won't get past the mediators but many will feel the same.
Is there anything we can do now? Probably not. But if anybody has any suggestions, let's try to speak as one voice.

Thanks for the clarification Looed.

WHamBoy: fair point, although not sure when they will have been made aware; maybe it was at the same time as us... As ever, on the whole we are left to speculate and ferret around for information.

Sorry Cayman Court!!!
Only just got up - apologies.

Good morning Looed
Thank you. Have you asked them about the seemingly fatal blow from the Georgian Court? To be honest anything else going on seems irrelevant now.

Looed
Can you please ask your contact how they are hoping to get the Company out of this seemingly hopeless position? ie the one where the liquidators have disposed of the asset.

Mole: many thanks as always for sharing your summary.
Is there any way back from this? It seems that the asset was lost to us in March. Presumably the board believe there must be some way out of it or they wouldn't still be fighting; but what is the possible way to get the asset back?

The message from the Company suggests they're aware of what the super sleuths are sharing on this bulletin board.

Dustin Aro.

I think something slow, lingering, painful, with no idea when it will end, or what that end will be, gradually sapping of all hope, with a constant fear you've been taken for a ride, would be more appropriate.
In the knowledge that in all likelihood the US cavalry will arrive too late as always.

Time to open the next bottle.
Johnnybebad where are you ;)?