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Caldera Died in 2012 and After 2 years of Delays, Arbitrator issues a "Default" Judgement for Damages Against Caldera

November 12, 2014

Proverbs 24:16-18 says that "For a righteous man falls seven times, and rises again,

But the wicked stumble in time of calamity."
I was advised by Caldera that the Arbitrator issued a "default" judgment against the Company on November 10, 2014 with respect to the damages phase of the counter claims filed by Van Krikorian and Global Gold Corp ("GBGD").

Caldera has not been operating since 2012, is delisted and is technically bankrupt, with no assets and millions of dollars in current liabilities. Caldera's lawyers resigned in 2012 due to non payment and the company could not hire a lawyer to present the company and assist it in a defence  during the recent damage phase. The Arbitrator refused to allow me, Bill Mavridis, to represent the company since I am not a lawyer. This is why I refer to this ruling as a "default" judgement, Caldera did not participate because it could not afford to pay for a lawyer.  This award is an example of what happens when a company is broke/bankrupt and can't file a defence.

Caldera died in 2012, and for all these and other reasons I resigned and left Caldera.

In his ruling, the Arbitrator confirmed that I was not a party to the Arbitration and therefore did not hold me liable for any damages personally, only Caldera. But Caldera is technically bankrupt and GBGD will not be able to collect one red scent of this award.

Issues related to my actions as an individual that the Arbitrator took exception to was with respect to my personal blogs filed on this and other sites. Since I was not a party to the arbitration I could not put in a defence, but if I was allowed by the Arbitrator I would categorically state that I stand behind all my claims against Global Gold Corp ("GBGD") as posted and that they were based on my opinions with further defence based on the legal doctrine of substantial truth.

I welcome GBGD to sue me personally so the truth can be made public. I have demonstrated in my blogs that GBGD engaged in making and distributing defamatory statements in US SEC filings and media in Armenia, GBGD and Van Krikorian also engaged in extortion and blackmail by trying to put me in jail in Armenia, so as to quickly push me out of the project. I won that fight, which, to me, confirms that Van Krikorian and GBGD were engaged in fraud, corruption, extortion and blackmail against me personally.

Proverbs 24:16-18 says that "For a righteous man falls seven times, and rises again,
But the wicked stumble in time of calamity"
and the Calamity for GBGD and Van Krikorian are still pending.

That calamity will come out from lawsuit filed by Consolidated Resources Armenia ("CRA") in the Royal Court of Jersey. CRA essentially made claims that they have been defrauded out $5 million equity investment in the Toukhmanuk Gold Mine for 49% interest in the Joint Venture and furthermore GBGD defaulted in approximately $2Million in notes owed to CRA. In the lawsuit, CRA is also requesting that the joint venture be dissolved since it has failed and no longer operating, and that a court ordered liquidator be appointed so that the Toukhmanuk assets be liquidated and the proceeds be split between GBGD and CRA, less damages.

Bill Mavridis

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Clear and Apparent Fraud at GBGD and Toukhmanuk Gold Mine

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By November 2015, Van Krikorian announced in its SEC quarterly filings (10-Q), that the Toukhmanuk project was delayed because the contract miner "requested" to be relieved of its obligations under the mining contractagreement.

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Three months later, the reason for Linne Mining's actions have started to become crystal clear. Linne has been swindled by Van Krikorian and GBGD. There is no gold worth mining at the Toukhmanuk Gold Mine. Here is the proof.

Two documents, which were prepared for Linne Mining, surfaced on the web last week. These two documents outline that the database provided by GBGD and…


That's what Mr. Van Z. Krikorian said to me and my brother (John Mavridis) in October 2010 while we were trying to resolve the dispute between Global Gold and Caldera.  Little did I know that he was serious and that his scheme was already put in place weeks before!

Mr. Van Z. Krikorian, the Corporate Counsel of Global Gold Corporation, authorized his lawyer in Armenia Mr. Hrayr Ghukassyan, to file a criminal complaint against me for theft and fraud on September 15, 2010, for allegedly stealing the shares of Marjan Mining Company.

Below is the signed complaint filed by Global Gold Mining, the subsidiary of Global Gold Corporation (GBGD) that was filed with the Prosecutor of Yerevan City, Mr. Badalyan.

Translated from Armenian

To: Mr. Badalyan,
Prosecutor of Yerevan city

From: Hrayr Ghukasyan
Global Gold Mining LLC
Representative of the Armenian Branch

Address: 2a/2 Tumanyan, Yerevan, Republic of Armenia Tel: 010 52-94-18, 093 988-797
Consider and report to: