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Member Info for Siko

Member Since: Sun, 11th Dec 2011

Number of Share Chat Posts (all time): 989
Number of Share Chat Posts (last 30 days): 6

Last Posted: 18 Aug '14

Post Distribution over the last 30 days

18 Aug '14

I got this link from flopticalube. It is a full transcript of the conference call. Sorry if it has been posted before, but I found it very useful as I missed the call.
15 Aug '14

Another important factor is the parliamental elections, as according to the new constitution, the new parliament should consider in the first 15 days all the laws that were issued by Adly Mansour in order to approve, amend or cancel any of them. Of course we are expecting some activists to be in the parliament, including our friend Alfakharany, who could form a lobby against some laws, including third party law of course. I think the gap between the SCC decision and the parliament first sessions is important and where CEY hearings would be at that time. There is no date set yet for the parliament election, but it is expected to be at the beginning of 2015, but no confirmation yet. CEY's best chance is for the SCC to approve the law and have enough time for the SAC to consider the case and deliver final ruling before the first 15 days of the parliament so we do not start this circle again..

I tried to be as clear as I could, no times set as I really could not guess. But please, please, please, bear in mind that these are only my thoughts based on what I read, understood and posted here. I could be totally wrong as I have no legal back ground and I have not consulted anyone, so do not take this post as a reliable source of information. I do not have any hidden or secret information. Any comments or debates are welcome.
15 Aug '14

I was asked by a few people to write my take on the cc. I do not have any new information but I do not mind writing what I think.

The first thing we have to be clear about is that no body knows how long it would take or when we would get the final ruling. We could not even guess if we tried. We have seen adjournments ranging from 2 weeks up to 6 months.

I read some posts suggesting that CEY should go ahead with the original appeal and not use the new law to settle the case. The posters recommended doing this in order to get the case done once and for all and to clear any suspicion or rumors about the contract. I personally think this is not possible. It is not CEY's choice to use or ignore the new law. Point 2 of the new third party law states : "The court rules ON ITS OWN/BY ITSELF to refuse cases or appeals filed in any way different to the way specified in point 1". So it is the court that would consider the case and decides if the new law applies or not. This makes sense because you could have a company choosing not to use this law in the first administrative court, and when they lose, they file an appeal in front of the SAC asking to apply the new law. So if the law is deemed constitutional, it should apply to CEY case if the court thinks it fits the criteria.

The new law is still valid, it has not been postponed or anything, but it is being challenged at the SCC, that is why the administrative court has postponed all cases until the SCC rules. The court could not book any case for ruling session now because the law is still valid so for any such case the ruling would have to be to refuse the case according to the "valid" law. The court could not rule against any company because the law is valid, and could not apply the law in favor of the company because it is being challenged.

So as we are clear now that we have to wait for the SCC, I have no idea when that decision would come, but we would get a clearer picture from the demonstration law. I explained before that the ECESR who are appealing against the third party law, are also appealing against the demonstration law. They were given a permission from the administrative court to appeal against the demonstration law on 17/6/2014

and as I posted before that the SCC referred that appeal now to the commissioners to write their report. In the SCC acts, there is no time set for the commissioners to deliver their report.

The ECESR were given the permission to appeal against the third party law on 3/5/2014, 6 weeks before the demonstration law date, so we could/should hear the same soon.

To continue.....
15 Aug '14

I do not know if this has anything to do with the continuous fall today, but Mr.Alhaddad , Alsukary CEO and EMRA's representative, made some comments in the Egyptian press today about yesterday results.

In the last 2 paragraphs his exact words were:

( The plant is not running at full production capacity until now because of a deficit in the explosives needed to break the rocks. It needs 40 tons of explosives a day to break 10 million tons of rock, compared with 18 tons of explosives being used now. What hinders access to explosives, some security clearances, where it must be approved by the Public Security and the operations of the armed forces and military factories to exchange explosives).

So I thought to let you know so you are aware of everything in the media. I know CEY confirmed yesterday that the explosives were not an issue, but people were talking before about (NOT OF THE SAME PAGE).

As to the cc, I'm not aware of any new developments so I could not make any comments really.
7 Aug '14

The investment minister said that the government is currently in negotiations with the companies that had rulings invalidating their contracts in order to get these investments back to work. He also said that it is extremely difficult for the government to take these companies back especially the ones listed in the stock market as the process is very complicated.

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