RE: SB ii2 May 2019 09:05
Here you go Arsenal; thanks for highlighting:
Would you expect Hope to do any thing different? Remember it is FRR that is suing him for breach of his Fiduciary Duties for not approving at least 2 loans we are aware of. He not going to do any favours for FRR. Gents, this all part of the legal process and posturing - claims and counter claims. Accusations and counter-accusations. What we do not know is what information FRR are withholding that gives them the confidence to bring this legal action in California. Also remember that Judge Kawaley did a complete U-turn in his last judgment summary where he accused OMF legal team inaccurate information in order to obtain an urgent judgment. So, I am still of the view that FRR presented some new evidence to Judge Kawaley after that judgment (in January) which resulted in the reversal of his original comments. The evidence could relate to a statement provided by the NOMAD where he confirms that there was direct interference from Hope on him or from Troy from YA who may have pre-sold some shares for Hope which he was expecting from Mssrs Zaza and Nicandros. Who knows what the Discovery Order may have uncovered. All said and done, we still hope that the Durham facility is approved and is the backstop incase Hope has to be repaid in full, in which case he is not entitled to the assets. Also remember if FRR was in real danger of losing the case, would they really be pushing the Ukraine Govt to put out for tender the Dolphin shelf, offshore? Therefore I think the facility is there but are going after this nasty piece of work known as Hope. And if OMF are found guilty in California, the house of cards will collapse as SEC and Dept of Justice swoop down to investigate. High poker stakes indeed but advice for Hope, take the money (US$10M) and move on. JMO
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