A few choice quotes from the shareholder meeting. It's a long read but please go read it for other shareholders' point of view about it. This mostly highlight what Nefario claims.
~~~~~~~~~~~~~~~~~~
I've decided to release the October 5th shareholder meeting minutes. I've removed IP addresses and the names of the shareholders that haven't been outed yet. Except for da2ce7, because he supported Nefario right from the beginning. With those exceptions, nothing else was changed.
http://pastebin.com/raw.php?i=DRt78Vne[05/10/2012 16:59:18] <shareholder2> da2ce796: we don't even know if there is an investigation or order
...
[05/10/2012 16:59:59] <nefario> shareholder2: I can't tell you if there is an order if there IS one
...
[05/10/2012 18:05:04] <nefario> shareholder2: we COULD go against what my lawyer says
[05/10/2012 18:05:07] <nefario> the result would be
[05/10/2012 18:05:10] <shareholder4> suppose, just for a moment, that we vite no
[05/10/2012 18:05:11] <nefario> GLBSE gets shut down
[05/10/2012 18:05:16] <nefario> and I get imprisoned
...
[05/10/2012 18:15:09] <shareholder1> the simple point is some people are gonna lose bitcoins because they cant AML
...
[05/10/2012 18:16:05] <shareholder1> but who gets it ?
[05/10/2012 18:16:05] <nefario> I don't know
[05/10/2012 18:16:06] <chrisrico> you keep it?
[05/10/2012 18:16:09] <nefario> HAHA
[05/10/2012 18:16:10] <nefario> me
[05/10/2012 18:16:11] <nefario> lol
...
[05/10/2012 18:16:34] <nefario> I'll ask the lawyer what we do with the funds that are not claimed
...
[05/10/2012 18:32:35] <nefario> I propose a motion to have theymos return the user BTC which has in his posstion for the purpose of allowing me to repay users
[05/10/2012 18:32:42] <nefario> to me
[05/10/2012 18:32:43] <nefario> or
[05/10/2012 18:32:44] <nefario> coldhardmetal
...
[05/10/2012 18:41:05] <chrisrico> because in THIS case, THEYMOS has the money that NEFARIO wants
[05/10/2012 18:41:06] <shareholder1> So theres literally nothing we can do
[05/10/2012 18:41:27] <shareholder3_> guys, lets do this together, fighting internally does not help
[05/10/2012 18:41:31] <nefario> chrisrico: that is users money, not GLBSE's
[05/10/2012 18:41:40] <shareholder3_> lets finish the motion and move forward
[05/10/2012 18:41:44] <nefario> I don't want it, I'm happy for coldhardmetal to hold it
[05/10/2012 18:42:13] <nefario> we're waiting for cold to toll up the votes so far
[05/10/2012 18:42:15] <chrisrico> theymos can hold it
[05/10/2012 18:42:17] <shareholder1> I trust chm to do the right thing with it
[05/10/2012 18:42:42] <ColdHardMetal> 57.85% for. My vote doesn't matter. Motion carries
[05/10/2012 18:42:51] <shareholder2> that's funny
[05/10/2012 18:43:09] <shareholder2> nefario who wouldn't observe the result of a motion concerning him forces theymos to do so
...
[05/10/2012 18:44:36] <chrisrico> nefario: given that we are paying for this lawyer, please give us his contact information
[05/10/2012 18:44:38] <shareholder4> chrisrico: yes but just fot the lulz
[05/10/2012 18:44:42] <shareholder3_> not about the legal stuff, but the shutdown process i mean
[05/10/2012 18:44:51] <chrisrico> *his or her
[05/10/2012 18:44:55] <shareholder1> yes what is the lawyers contact info
[05/10/2012 18:45:02] <shareholder3_> so, when and how will glbse communicate with users?
[05/10/2012 18:45:15] <ColdHardMetal> asap.
[05/10/2012 18:45:15] <nefario> buckworthsolicitors.co.uk
...
[05/10/2012 18:49:34] <shareholder2> then i want full transparency since it's our lawyer
[05/10/2012 18:49:53] <shareholder2> anything else is dishonest, nefario
[05/10/2012 18:49:57] <nefario> shareholder2: then you'll have to give your AML info to me and take the same risk I am for GLBSE
...
[05/10/2012 18:53:48] <nefario> these are the basic facts the announcement needs to convey: 1) GLBSE is closing, 2) All BTC will be returned to users, 3) Users need to AML, 4) Issuers who are not already verifified will need to do AML, 5) Issuers who have been AML'd will be given all support to move off GLBSE, 6) Users AML'd will be given all support to move their assets off GLBSE
...
[05/10/2012 18:56:08] <nefario> shareholder4: I've talked about this with the lawyer, because there is no way to prove that one person hasn't oppened dozens of accounts with smaller amounts we have to do aml for everyone
...
[05/10/2012 18:43:12] <shareholder2> oh well
[05/10/2012 18:43:17] <chrisrico> what happened with the vote to remove nefario as CEO?
[05/10/2012 18:43:24] <chrisrico> out of curiousity
[05/10/2012 18:43:24] <shareholder1> didnt pass
[05/10/2012 18:43:24] <ColdHardMetal> didn;t pass
[05/10/2012 18:43:31] <nefario> shareholder2: I've not violated the results of any motions