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Fox
Only news is that the Caymans Gazette has shown the the Frontera company for Georgia has been liquidated and there is a 3 week delay for the formalities. People here thinking/ hoping that the assets is hidden safely away elsewhere in FRR.

So for those of us who haven't completely given up yet on our chances of coming out of this with something, I think our success rests on the following:
1 - The transfer of the asset was either completely legal or a delaying tactic
2 - If legal, we have nothing to fear. The asset is safe and out of reach. This goes against what Garytrader is saying however, but then again, Zib and others think Garytrader may be wrong in his assertions.
3 - If merely a delaying tactic, this then becomes a race against time. Do we have enough money to pay off Hope, either from the sale of oil or from Green Capital or from a rich benefactor? This is what MP is hoping will happen.

As for me, I have no more clue what is going on than anyone else.I offer my respect to Aubree21 however for speaking with his family and wish him well.

I hope you’re right Zib. Very downbeat this evening having read this BB. Not lost all yet but would like at least one of my investments to make some money. At least you have Bloe.

I think we broadly agree on this one Madpunter. I would have preferred it if the TRO has been granted, as it would have applied a lot of pressure on Hope to settle ooc, but given the removal of the asset from Hope’s reach, you can see why the Judge decided that it wasn’t necessary. So we now have a new date and another wait. It will soon be the summer holidays when hopefully all this will be a distant memory. GLA

Oopsi earlier today said the following:

There is a back up plan in the event that the TRO is not granted that has involved removal of the assets. As Dev says, that is risky but calculated. If we get that far - expect more litigation in the Cayman and possibly US."

Two ways to look at this:
1 - the judge saw the evidence and thought it weak
2 - the judge wasn’t too fussed by the evidence as this was a temporary restraining order and could only be applied if there was an urgent case to answer. If the asset was effectively rendered safe and out of reach, then that case of urgency is nullified. Hence no TRO and we move on to the full hearing.
Either way, FRR’s future depends on how well the asset has been made safe.
GLA

Is the TRO not seen as urgent because the assets have been moved?

The appeal in London is what would have happened if we’d stuck with the Caymans court process.

What I found interesting was the fact that no reference was made to the 95%/5% debate we have been having. It may well still be the case that we are only fighting over 5% of block 12....

A document has now appeared- a reply to a opposition/response.
https://www.courtlistener.com/docket/14933328/frontera-resources-corporation-v-hope/

I’m buggered if I know what’s going on. But strangely I am more positive following Hope’s resignation. It does look to me as if he was surprised by Zaza’s Shenanigans and has moved accordingly. Fingers crossed for tomorrow. GLA

Symore’s thoughts from ii this morning:
“Fozz, not sure if this comment is correct “…Durham does not seem to be in play as I assume this was the “failed attempt” at raising finance in Nov 18”.

One of the last operational RNS released by FRR was on the 12 December telling us the signing of the non-binding term sheet. Plus we know that as part of their due diligence, there was a site visit conducted at B12 back in mid-January. Anyway who knows what is going on the financing side but we must remember that Hope has been excluded from Important commercial discussions since at least Sept 2018. Infact recall he was not even aware that the company had executed NDAs with BP and BHGE and only found out when the RNS was released. So, the point is how accurate is his deposition? Finally, while all the muck is being thrown around, did Hope’s submission to the court address the core issue of breach in his fiduciary duties as an independent Director of FRR, because that is what the case is about? Get a feeling a lot of the evidence is being held back which was subsequently revealed to Judge Kawaley that swayed his opinion as reflected in the second judgment.

As far as the Cayman case is concerned, if the case has been withdrawn as Hope’s legal team claim then why has this not shown up on official records? Hopes team has lied before and will lie again. Or perhaps FRR feel that with a Jury trial plus the strict regulatory regime, there stand a better chance in the US. But still need to official Cayman records.

I’ve had difficulties down loading some of the Cali dox but would appreciate if someone could give a frank opinion on whether the response from Hope’s lawyers addresses the principle charge of breach in his fiduciary duties, namely rejecting financing proposals which would have paid creditors, market interference such as trying to influence the NOMAD or forward naked selling shares via YA. I do recall around 800m shares being sold leading up to late October, which we highlighted/discussed at that time.

Legally, it can go either way as we are privy to scant info, but I sincerely pray that there is a standby financing in place in case it is needed.

JMO”

Thanks for the update ivy

Well done pophead. I feel better already. I just need you to jump on a plane to California and sort them all out too!

As for West Ham v saints, a draw tomorrow would be fine. A draw for FRR would be better however!

Agreed onedayrodney. I’m just trying to remain positive in a sea of negativity. It’s not easy. I stand to lose a pretty penny if this goes bad. I wouldn’t feel so bad if it was all mine. And I’m not even certain that even if FRR retain some or all of the assets, we shareholders will even then get our money back. But we do still have a chance, so I’m still hopeful. My other investments are not exactly roaring either, so I need one of them to do good things ASAP. Any advice gratefully received... GLA

Garytrader mentioned that Hope is bringing in even more lawyers. It strikes me that he wouldn’t do that if he already had the keys to the safe. In fact he seems to be throwing the kitchen sink at this to try to make sure he gets close to what he thinks he deserves. Who will get what? It certainly looks binary, but who knows, if and when the TRO is approved, the boys may yet play more nicely with their toys. On a different note, I’ve just been outside in the fresh air for a bit and it proved that exercise can lift your spirits. GLA

Thanks for the update Garytrader

2 more docs.... can anyone download them?

Order on Motion for Pro Hac Vice
https://www.courtlistener.com/docket/14933328/frontera-resources-corporation-v-hope/