The funds which nefario has been returning to users are supposed to be user funds held by GLBSE, not funds held by the asset issuers.  None of the shareholders have suggested that GLBSE didn't have all the user funds it should have.  At the time GLBSE was closed the shareholders believed that GLBSE had user funds on hand plus some reserves of its own.  To the extent that there's a short-fall, it seem to have been caused only by nefario's overpayment of some people and if the majority of those coins have been recovered there is no reason whatsoever to delay resuming repayments.  There has never been a good reason to delay releasing the information needed for asset issuers and their users to communicate with each other until after the repayment process was completed.

A series of bad ideas becomes indistinguishable from scamming when you're literally announcing publicly that everything you're doing is legally fine and that representation is based on absolutely nothing because you haven't even bothered to seek legal advice before making publicly making that assurance.  Refusing to hand over the information needed for users and asset issuers to communicate with one another is just grand-standing and the delay in handing it over may even render that information useless.  nefario is absolutely responsible for the consequences of that decision.

People aren't going to try to sue nefario.  What they're far more likely to do if he continues to piss them off with his "fuck you" attitude is draw his activities to the attention of the very authorities he was hoping to avoid getting scrutiny from.