Nefario obviously cannot be trusted in properly managing a project like GLBSE, why would anyone think he can handle the funds properly. He was probably skimming bitcoins from GLBSE and now he is short of bitcoins for the claims process.
I'm as sure of this as I was sure that Bitcoinica owners were behind the several thefts (as was later show pretty conclusively when zhoutong got caught with the LR monies)
I'm nearly certain that nefario has given out all the coins he had "available" to give out. There's no more money being given out because there is no more money. I'm shocked he hasn't staged a "theft" to cover up the loss (theft)
If it were not a crime in the US to advocate the use of physical force, I'd be all about it. It's shocking that I've not heard of anyone solving the pirate or glbse fiascoes with physical force.
I'm pretty fed up with being stolen from with no recourse whatsoever to recover anything. I'm pretty sure I'd kick him in the nuts if I saw him though. I'd be fine with the assault charge.
But, like I said.....he's only holding defaulted assets (and a couple BTC worth of SS shares) of mine, and I don't expect to be able to kick pirate in the nuts anytime soon, either.