Member Info for ZiggyZag

CF73...you say

4. YA were caught naked shorting, which is illegal. In order to naked short, they had to get the shares out early and then, of course, apply the screw, just as others were simultaneously were doing (GD with their arbitration; TW and his lot etc). But they got caught. ....
With their history of investigations into them by SEC do you really think that they would expose themselves to scrutiny via the litigation process against FRR if they felt their past actions with the company would cause them further legal issues .

Thanks Star
Not seen the actual text before , happy it confirms points in my post .

Further to my 12.22 post
If FTI reverse transfer then how does Hope proceed . From what other more informed poster s have said in the past Georgians would not allow Hope to be licence holder .

Does he need to negotiate with FRR in order to realise any potential value in asset and / or our debt to him on the basis that if he looks like gaining the asset under Company liquidation Laws , what is it worth to him if Georgians to not recognise his standing re licience.

So could we see an arrangement where FTI / Hope come to an agreement with FRR and allow the Liquidation to be stopped / reversed

Sec 147 of insolvency act allows it to be stopped with the court granting whats called a permanent sist.

If granted the Company would return to control of original directors . Court obviously would have to be convinced of our proposals re all creditors being paid in full ( and Hope probably more ) , putting them ( creditors ) in a strong bargaining position .

Mad / Star
The Georgians may say transfer is illegal but that will be against the terms of the contract .
They have NO CONTROL as to where the asset should reside under Company / Liquidation Law , its not their decision to make.
Georgians may or may not allow it to be transferred under the contract but which Company legally has the right to hold the contract and subsequently negotiate it further with Georgians will ultimately be decided in the Caymans Grand Court and nowhere else .
Once that is decided Georgians can then act accordingly .
Mad , the noise in NY to be followed by further noise in Caymans is not to be underestimated / ignored .

Not sure how significant excess funds are dealt with in these circumstances but I think Maples ( on behalf of Hope ) are the sole shareholder of liquidated Co and we no longer have any rights in that Co .
New York/ Caymans is key as any win in Georgia then needs to be retained against that action hence as I have previously said I very much feel Zaza’s ....removal .... along with Levans step down is a tactic to frustrate FTI and not an indication of an imminent deal .
A deal with Georgia now on the asset would gives Hope a defined prize to financially justify his pursuit of nullifying any asset transfer out of FRCC .

Star re your 13.16
What else would you expect them to say to the court ?

Tsbs
lets hope so m trouble is from day one of delisting most time ps there have been a development we have generally seen a good reason behind it only find the truth further down the line to be negative towards our cause . We are well overdue a good break .
Personally I still believe Zaza going is a tactic to frustrate the liquidators investigations .

Did you send the letter?

If the Company has no future seems a strange move , what has SN got to gain by removing Zaza at this stage leaving him holding the baby,.

If the Co has a future is it conditional from others that Zaza had to go .

If the Co has a desire for future but cannot successfully negotiate with Hope / FTI , is it as my previous post .

FRR eh , never one to disappoint with surprises , trouble is non of them ever ever been a good one .....on the face of it .

First thing that went through my mind was the move is an attempt to thwart the endeavours of FTI as Zaza would be major person of interest in their discovery process in unravelling the asset transfer , same with Leven.
Now both of the books what difficulties does that present to FTI in trying to get to the bottom of B12 transfer.
SN perhaps now able to say , I don’t have full ins & outs as those guys dealt with all the finer detail .
Movants not acting for Zaza also cuts another connection route for FTI to talk to Zaza .
Perhaps its all part of plan Y part 3

Copy jjcarter post below , can’t remember if title was his or existing thread .

Big Bada Boom 03 Sept 20 19:59

Zaza has been removed as CEO of Fontera by board and by Steve .also from all executive positions .

Star , yes agree.
I posted as your original inferred that the Court stepped in to takeover as opposed to the true situation i.e. that it was asked .
Whist the result is the same your post to someone who perhaps did not know the history of that move may take your version as being more concerning than it actually is .
And yes before you point it out , the situation re court supervision is concerning just pointing out the facts of that journey as I know how you ( quite rightly ) like to refer to them .

Star

Which is what I said

Star
Right destination but you got the journey wrong .
I believe FTI asked Caymans Court to grant Court supervised Liquidation , which the Court agreed and invited FTI to continue to act . As you know the main purpose of FTI choosing to take this route was to allow them to involve courts USA .

RR
Have you spoken to someone who knows a man , who knows a man who heard a man say something in the pub?
Or have you spoken to someone with proven connections to the Company ?
Or is your post an attempt to dissuade Looed from sending his letter?

If we are voting I will repeat my vote.

Send now but in house only , with covering letter clearly expressing our frustrations and potential next action .
They are in the best place to understand the harm that may or may not be done by going public and will respond accordingly .....then we make decision of what next .
If no response....., then we make decision of what next with plenty of time before election .
Rumours of ZM removal ( from only one source ) so send to ZM , SN (we have his home address ) and LG

Looed
Some for sending now , some for after election, your choice obviously but you did bring it to this board for discussion .

We must not lose sight of the reason / objective which is to open dialog with the Co , and not to do the Co any harm .

Go outside the Co initially and we immediately become the enemy to them !.

The middle ground to me is send it “in house “ initially with clear return date of no more than 14 days and await their response .
Obviously the covering letter outlines or aims in sending it to them and our intentions ( going public ) if they ignore / don’t give meaningful response.
If they respond we take a view of contents and then act accordingly which may include going public before election .
Keep up the good work .

Mad
I think Looed mentioned involving FSHG in the process.
Think you are overthinking the rest .
On the basis we send the letter at this point ..in house only ...to ZM , SN and LG they will determine who they need to involve re replying if they treat it seriously .
RR
Clearly the purpose is not to get Zaza to reveal any Ace cards , the purpose is to get them to talk to us and keep us informed of issues / developments / reasons / dates etc of the things they can .
Why for example can they not pre announce Zaza’s interviews and then post translations on the website, that would be a good starting point
You simply cannot square Zaza talking in the Georgian media about the destiny of our investment , ....your hard earned cash... and then effectively giving you the finger by leaving you and the rest of us to speculate whats going on / spend more of you hard earned to learn what he said , think long and hard about that and what it says about our standing with them
When have you heard anyone from the company say we can’t tell you anything because it will effect litigation , negotiations , etc , I can’t recall any such message . Some issues will clearly fall into that category, but every single thing ...doubt it
We have just speculated over the reasons and come up with our own answers and in the main we have allowed our loyalty to the cause to override what we should expect from a company that has our interests somewhere on its agenda.
The fact that some of us view posters like B-2-O as being akin to Moses coming down the mountain speaks volumes as to where we are currently in knowing whats going on .
Enough is enough

tsbs1....spot on comment !