Just posted by Zeninvestor on LSE.
Timescale of events.
Just been reading the court documents.
On April 14, Frontera file their complaint against Hope in the California court.
On April 16, Hope is served with a summons informing him that a lawsuit has been filed against him in the United States District Court for the Northern District of California. He is given 21 days to respond.
On April 17, Hope’s lawyers, Maples, e-mail Frontera in retaliation, with an enforcement notice for default on the equitable mortgage.
On April 24, Frontera file an amendment to their complaint of April 14 adding this attempt to seize the assets of FRCC (Frontera Resources Caucasus Corporation) to the charges against Hope and applying for injunctive relief to stop him.
On April 25, a motion for a temporary restraining order against Hope is filed citing lots of US cases as precedent, including US cases adjudicating according to Cayman law in cases involving companies incorporated in the Cayman Islands. (The lawyers have clearly done their homework and it makes you wonder why Kawaley’s first interim judgement was so negative. I think he was rash - and now knows it).
On April 25, the Order for the temporary restraining order is drawn up (we assume by Frontera’s lawyers) and awaits signature from a judge.
So, the big guns are out. The question for me is what else do FRR have on Hope other than he blocked JCAM’s loan and Zaza’s loan back in April 2018 ? (Kawaley wasn’t impressed by that argument).
What information do they have that he actively brought about the delisting ? (Is it simply that he went to war with Frontera over the interest payment or is it that he was pulling strings with the Nomad?)
Why do they maintain that they haven’t defaulted ? Does that argument stand up (see below) ?
“Plaintiffs dispute that they materially breached their obligations under the Equitable Mortgage. However, to the extent there was breach of the Equitable Mortgage, such a breach was a direct result of Defendants’ tortious actions described within this pleading. In other words, Defendants are now attempting to lead the horses out of the very barn door that they opened.”
What are the assets of FRCC as opposed to FRC or FIC ?
Can someone remind me who Elmar Finance is (based in Athens) - presumably something to do with Constantine Nicandros ?
This is turning out to be the most expensive whodunnit I have ever read. Just waiting for the time and money spent to be returned in spades.