Member Info for ZiggyZag

Having read Zaza’s comments a couple of times got to wonder why he distances the company from $3.5B claim
He is quoted as saying ....... I reiterate that the company is not suing the state for $ 3.5 billion.......
and .......The company is not suing the state and has not initiated any lawsuits against it.....
But
In the papers submitted by FTI to NY Courts they quite clearly reference $3.5 billion counterclaim in arbitration presumably based on info from our council acting at the time Atkin Gump who they had conversations with .
FTI say re Arbi........FRGC has disputed the Georgian Government’s claims against it and filed a counterclaim in the amount of USD $3.5 billion as lost profits for the period of 2012 through 2027.

As we are Not suing the state as in lawsuit in a court of law is ZaZa playing on words for the benefit of the less informed wider audience , i.e we are the victims here not the aggressors ( TRUE)

Or less likely , bearing in mind FTi also say in docs re investigating fair value for the farm out ......The Counterclaim in the Arbitration of $3.5 billion and the consideration FRUS purportedly paid for 95% ......is he downplaying that for their benefit.

Or have we in final submissions withdrawn the claim .
As usual the more we learn more questions are raised .

Just logged on ...sorry checkin..... in after a couple of days and ....wozzer ....wozzer ..wozzer ....

Well done Bugsy brilliant find ......what were you in a previous life , a journalist or spy .

I don’t think Tim Thompson is still involved with FRR
Remember the facebook posting in the summer when he said he had deleted Zaza’s tel no . I doubted the valitity of the post, contacted Tim and he confirmed it was true.

Then in Nov the Website disappeared I wrote to him asking for info / reason
His reply ....

As per my post I have not been retained or paid a fee since delisting 

I wrote back

Hi Tim 
Thanks for your response , yes knew about your post but assumed you are still affiliated with Co based on your presence on website ...is that correct ?
He did not respond
Have to assume he his happy for his details still to be on website ....free advert I suppose

Below has been posted ( presume shared to ) on the facebook page of a Frontera guy 14 hrs ago also
Translated to ........Dear friends, the company where my dad. has been working hard since 2005, oil finding company @Frontera eastern Georgia Limited, Scott There is a lot of very good specialists left, and they are looking forward to looking for new opportunities to use their talent.

I remind you, working at my father's age is not an easy job... but, he is an extremely responsible and well-friendly employee, English and According to Russian languages, computer, who has 40 years of experience in the field of physics (oil geometry, Data Base Minister, killer, field worker , and a. Etc. ). Remember the swearing record since 1970, and in general, what I've ever asked, it remembers everything. Has the ability to processing and analysis of a large amount of data. In General, he is a very caring person.

If anyone is interested in a shot like this, you will take a very good employee.

ZyDer

Assume it American.....goosed by translation

Mad .... I am regularly dipping into the archive for something or the other .Your work in providing / maintaining it is Top Dollar !.....many thanks.

I have a facebook contact with Frontera employee (?). Looking at his profile he is a professional , and has a behind the scenes roll. After many non responses to questions over the months he did respond to my question beginning of Nov last year re wages / layoffs that he was still employed.
I asked him last week about the US congressman's speech that FRR operations had been taken over , true / false / details etc , his response in english was ..... since 15.11.2019 we are not working in Frontera...... I asked for clarification i.e. dismissed / temporary laid off, also asked were workers under control of liquidator but he has not responded.

The postman is really busy in Georgia at present with yet another letter from US politician’s yesterday .
No mention of Frontera in this one .
US keeping up the pressure on Georgia at present .....will we see any benefit I wonder .....

Georgian Prime Minister Giorgi Gakharia has received another critical letter from politicians in Washington D.C. on January 30.
This time, the chairman of the US Senate Committee on Foreign Relations, James Risch, and member of this committee, Jeanne Shaheen, criticised the Georgian authorities......

https://jam-news.net

Jeez....all these “LTH “.....coming out.... today

Cracking post 17.33 brgmg69 ......and re your follow of .......If this comes good, on the day it does I think we’ll know by the silence on this board who was really short and who was invested......Caused me to repost below from the past:

If it comes good how will we learn about it

A humongous post on website revealing all .
Or
Similar reveal all RNS
Or
Shareholder update meeting in London or Mobberly
Or
White House press conference with Zaza and SN stood alongside Trump as he announces how his great skill at deal making brought Georgia to their senses
Or
Wall street announcement that Outrider management has gone to the wall because ...........
Or
StarRage wriggling out of his NDA ‘s with FRR, Georgian Gov’t, Judges Seeborg & Kawaley, Cairnes, BP , Exon, FTI ,Arbitrator , allowing him to tell us he was wrong on Christmas Eve 2018
Or
Final reveal all scene in film called ...The Fat Lady Sings....
Produced by Coggy
Directed by TSBS
Screenplay by Mad...
From the book.... All The Shareholders Men....
Co written by Chris, CF , Ears, Taffy, , Bugsy , Syric ,Ivey, Bezzy, Gipps, Key etc etc ....
With technical advice by Reg & Oopsi...
Stunts organised by Zib
Music by the Prodigy
Cast supported by RR

Or will it simply be letter on the door mat containing a cheque and thank you note from Zaza .

Footnote:

In the making of The Fat Lady Sings no vermin will be harmed ...except for shorters

Like has been said , don’t think Arbitration is influenced by outside comments/ factions particularly at this late stage .
However as a result of those comments / factions I assume they would accept a jointly signed letter by both parties saying ...thanks very much but now sorted .

Pyrotech

Keep em coming bud

Star
Not got the full doc on hand , I copied that extract when previously responding to someone ( maybe you ) making the same statement Nov 7 19
If its any help to you in finding it , the extract is from Caymans judge when after having his holiday in Miami interrupted by Hope seeking a rushed ex parti injunction which was refused. Was early spring last year I think.

copied that extract p

Star
Re .....The mortgage agreement that specifically stated that transfer of the asset was prohibited.....

Last year when Caymans Judge was being rushed into injunction by Hope side he said:
Mr Hughes ( Hope lawyer) made somewhat vague allusions to steps which could be taken at the subsidiary level to erode the value of Outrider's security.

He went onto say

Therefore it seems to me that once one reaches the stage where the contract comes to an end (as it would do with the granting of possession) there is no right in the responderit to beprotected by the granting an injunction.

Asset move was in the period after possession by Maples and before liquidation. So above means asset removal as far as Mortgage terms are concerned was not in breach of agreement .

Hi Arsenal
For whatever reason seems they initiated the move very close to liquidation which presumably they would have known ( or their advisors should / would have told them ) would attract suspicion down the line .
Was is planned delaying , or panic / desperation . Whichever it was they clearly have created a situation that FTI can pursue . Said before liquidators have a fiduciary duty and they just grind away.

The latest NY docs do not mean FRCC have been made bankrupt as some are saying . FRCC is being liquidated by FTI under the supervision of Caymans Court and in order to aid this FTI have sought to be recognised ....as duly authorized foreign representatives of FRCC.....in US , and the latest doc is NY court granting that .
I know Madpunter has a well thought out view as to what the end game re this action and I hope he is correct . I don’t know what the end result of the action will be but IMHO I think the journey FTI is on may turn out to bite us on the bum if we were get anything out of arbitration.

Below is some of what I posted last week .

........ Consensus seems to be that if asset is out of company then licence would revert back to Georgians and all sides except them lose. On the back of this many are saying nothing to be gained by FTI ( some say Hope ) in perusing asset .

Timing of removal and / or fair value are issues that FTI have referred to in their submission to NY court ( now granted )that they wish to investigate .

So here is my worry:

FTI are liquidating FRCC who held asset within its structure .
If they are successful in voiding asset transfer it stays on/ reverts back to the book of FRCC structure.
So if put back in FRCC what would have changed re licence conditions, it would be as we were prior liquidation process starting.
The entity of FRCC is still in existence , it has not yet had its affairs wound up and presumably is still legally free to undertake transactions re its assets with regards to sales.

In other words if under licence agreement FRCC were able to sell asset prior to Maples taking possession of FRCC would the same not still apply if it regained asset now ( via Caymans & NY courts)

Its not Hope who would have the asset to sell , its not FTI either ...its still the licence holder FRCC who would hold asset and subsequently would be selling it as per licence agreement allows .

So nightmare scenario.......FTI recover asset on behalf of FRCC ,
who then sell it to SM ,
FTI oversees distribution of funds to creditors etc (with no trickle down to us , we are not shareholders in FRCC )
final meeting held , wind up of FRCC and its dissolved........

The key issue to me is are FTI going through the motions to gain bank accounts as per Mads theory or are they seriously chasing asset .

Mad , As I posted earlier interesting why our men did not oppose and hope your theory as in last sentence of your 21.47 post is correct

Mad , yes agree they could request whist case was in Caymans , but as outlined in their initial papers to US court they received very little in way of responses. Now they can request info via subpoena if required.

Shatner ...your talking ballorks this is nothing to do with liquidating group and far from game over.
Nothing unexpected in this document , its just continuation the process that started with DTI getting liquidation of FRCC brought under the supervision of Cayman Court.
They have now been recognised by US court and as their initial submission to same requested last year , the document outlines they are now entitled to gather info from our men .
Whilst expected , its still concerning as reason clearly is to seek out validity of asset move .
What is unknown is why our men did not contest the order ...lack of funds...grounds maybe , or is Mads theory correct ....we shall see.

Hi Earsbern
Re your previous post :
Does not look FRC took part in process based on extract below from DTI submission to NY court below.
......... 46. The Liquidators are concerned that the FRCC Directors may have directed FRGC to
take certain steps immediately prior to the voluntary liquidation, potentially in furtherance of evading the implications of the voluntary liquidation. These steps also impacted the Arbitration.

47. Pursuant to an agreement dated April 13, 2019 (the “Farmout Agreement”), just a few
weeks before the voluntary liquidation commenced and the Liquidators were appointed as JVLs, FRGC purported to assign all rights, obligations and interests in the PSC to Frontera Resources US, LLC(“FRUS”), a Texas limited liability company that is an affiliate of FRGC (the “Assignment”).7

48. The Liquidators did not learn of the Farmout Agreement until nearly a month after the
commence of the voluntary litigation, when they received information from Akin Gump. The FRCC
Directors subsequently provided a copy of the PSC and the Farmout Agreement.

49. The Farmout Agreement and accompanying documents provided information in relation
to the consideration for the Assignment. Based on the limited information provided, the Liquidators cannot determine whether these transactions were arms’ length for fair value, or potentially a questionable transfer of the assets of FRGC (and thus FRCC) to a related party, all concurrent to the voluntary liquidation of FRCC.
I should note there is a significant difference between FRGC’s
Counterclaim in the Arbitration of $3.5 billion and the consideration FRUS purportedly paid for 95% of FRGC’s rights and interests under the PSC under the Farmout Agreement........