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Showing posts from December, 2013

US Judge Blasts Van Krikorian / Global Gold Corp and Overturns his $37MM Default Judgement Against Former Minister of the Republic of Armenia, Mr. Vardan Ayvazyan

I finally received a complete copy of the  ruling handed down by Justice Paul Oetken, relating to the overturning of the Vardan Ayvazyan default judgement   (link to copy of ruling here) , that awarded Global Gold Corp. (otcmarkets: GBGD) $37MM. The order was overturned on November 21, 2013 by the same Judge who issued it, on the grounds stated below: Because this Court lacks personal jurisdiction over Ayvazian, the default judgment is   void and must be set aside. Equitable factors also support this outcome.  Global Gold has had its day in court and has also had its day before the Tribunal that it contracted for, from behind a veil of ignorance, before the dispute arose. Faced with consistent adverse decisions, it now seeks to change the rules of the game.  This is the rare case where the interests of finality and the interests of protecting a defaulting defendant are aligned:  Global Gold may not circumvent the decision of the ICA Tribunal by returning to this Court, which lacks