UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

  WASHINGTON, D.C. 20549

  

FORM 8-K

  

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

  

Date of Report (Date of earliest event reported) June 26, 2014

  

Global Gold Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Delaware

(State or other jurisdiction

of incorporation)

02-69494

(Commission

File Number)

13-3025550

(IRS Identification

No.)

 

 

 

555 Theodore Fremd Avenue, Rye, NY 10580

(Address of principal executive offices) (Zip Code)

  

Registrant's telephone number, including area code: (914) 925-0020

  

(Former name or former address, if changed since last report)

  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

  

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

  

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act(17 CFR 240.14a-12)

  

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

  

[  ] Pre-commencement communications pursuant to Rule 133-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 



 

 

 

Item 8.01      Other Events

 

On June 26, 2014, the International Center for the Settlement of Investment Disputes International Arbitration Tribunal delivered a Final Award in the matter of Global Gold Corporation vs. Amarant Mining LTD and Alluvia Mining, Ltd.  awarding Global Gold $16,800,000 USD plus $68,570.25 USD in interest, costs, and fess, with post-award interest on unpaid amounts accruing at 9%. In addition, the Tribunal provided the following injunctive relief: “ Per my previous orders in this matter, e ach of Amarant and Alluvia, including its officers and agents individually (including without limitation Johan Ulander), is continued to be enjoined, directly and indirectly, from alienating any assets, from transferring or consenting to the transfer of any shares, or performing or entering any transactions which would have the effect of alienating assets pending payment to Global Gold;

Each of Amarant and Alluvia, including its officers and agents (including without limitation Johan Ulander) will provide within 5 business days all contracts, draft agreements, emails, records of financial transactions, financial statements, and all other documents in connection with their business affairs for purposes of determining whether Respondents have complied with the July 29, 2013 and subsequent orders, have diverted funds which could have been used to pay Global Gold, and to aid Global Gold in collection.  Respondents shall specifically provide of all documents related to Gulf Resource Capital, Amarant Finance, the IGE Resources stock sale and related transactions as well as documents related to the institutions from which Respondents have represented payment would issue including but not limited to: Mangold, Swedebank, Jool Capital, Skandinavska Bank, Credit Suisse, HSBC, Volksbank, Loyal Bank, Danskebank, NSBO, the “offtaker,” and Clifford Chance escrow account. Respondents shall execute any documents reasonably necessary or required by any institution to give Claimant access to this information and documents” all as more particularly set out in Exhibit 99.1. This award emanates from Global Gold’s 2011 sale of Chilean gold mining assets and the buyers’ repeated failures to pay and misrepresentations as described in prior filings.

 

 

Item 9.01      Exhibits

 

 

Exhibit No.

Description

 

 

 

 

99.1

Final Award

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

  

  


 

 

 Global Gold Corporation

 

 

 

 

 

Dated: July 1, 2014

By:

/s/  Van Z. Krikorian

 

 

 

Name: Van Z. Krikorian

Title: Chairman and Chief Executive Officer

 

 

 

Exhibit 99.1

 

 

 

International Centre

Thomas Ventrone, Esq.

Vice President

120 Broadway, 21st Floor

New York, NY 10271

Telephone:(212)484-3266

Fax:(212)307-4387

 

 

 

June 26, 2014

 

 

 

Via Email and Federal Express

 

Van Z. Krikorian, Esq.

Jan Dulman

Global Gold Corporation

International Corporate Center

555 Theodore Fremd Avenue

Rye, NY 10580

   

Johan Ulander

Amarant Mining, Ltd.

P.O. Box 500399

Building #1, Office #209

Dubai Internet City, Dubai

United Arab Emirates

 

Bengt Hemmingsson

Alluvia Mining, Ltd.

28-30 The Parade

St. Helier JE1 1EQ

Jersey, Channel Islands

United Kingdom

 

Case Number: 50-20-1300-0458

 

Global Gold Corporation

-vs-

Amarant Mining, Ltd.

-vs-

Alluvia Mining, Ltd.

 

 

Dear Parties,

 

By direction of the Tribunal we herewith transmit to you the duly executed Final Award in the above matter. Please do not submit any further communication directly to the Tribunal. All communication shall be directed to the ICDR only copying the other parties.

 

At this time we have verified with the Tribunal that it has submitted all requests for compensation and expenses in this matter. Accordingly, we have conducted a final reconciliation of the finances and are providing each party with a Final Statement as well as the most current invoice. If a party had any unused compensation deposits, we have issued a refund check that should arrive in the mail shortly. If a party has an outstanding balance, that party will continue to receive cyclical invoices until the balance is paid.

 

 

 
 

 

 

Please be advised that, per ICDR Case File Document Retention and Destruction Policy, all files and related documents will be destroyed 24 months from the date of this letter. The ICDR will retain a separate copy of the Final Award. In the normal course of our administration, the ICDR may maintain certain documents in our electronic records system. Such electronic records are not routinely destroyed and do not constitute a complete case file.

 

Thank you for using the services of the ICDR, a worldwide leader in dispute resolution.

 

Sincerely,

Shingi Chaza

 

Shingirirai Chaza, LL.M.

International Case Manager

212-484-4116

ChazaS@adr.org

 

Michael F. Namias

ICDR Supervisor

212-484-4170

NamiasM@adr.org

 

 

Encl.:

 

-    Final Award

 

 

Cc:   Stephen S. Strick, Esq.