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(a) Original Proceeding
Claimant(s)/Nationality(ies):
Plaza Centers N.V. (Dutch)
Respondent(s):
Romania (Romanian)
Date Registered:
June 3, 2022
Date of Constitution of Tribunal:
November 1, 2022
Composition of Tribunal
President:
Lawrence COLLINS (British) - Appointed by the Parties
Arbitrators:
Todd WEILER (Canadian) - Appointed by the Claimant(s)
Pierre MAYER (French) - Appointed by the Respondent(s)
Party Representatives
Claimant(s):
Bryan Cave Leighton Paisner, London, U.K.
Respondent(s):
Squire Patton Boggs, New York, NY, U.S.A. and Prague, Czech Republic
MPR Partners, Bucharest, Romania
President, Prime Minister, Minister of Public Finance, Cabinet Director of the Ministry of Public Finance, Minister of Public Works, Development and Administration
Language(s) of Proceeding:
English
Status of Proceeding:
Pending
Latest Development:
January 22, 2024 - The Tribunal issues Procedural Order No. 7 concerning the procedural calendar.
Outstandingly above 5ZT .
One day trading in London may well be allowed .
Zzzzzzzzzzzzzzzzzzzzzz
Outstanding
4zt Broken
Upwards continues nicely
Outstanding
Date Development
June 3, 2022
The Secretary-General registers a request for the institution of arbitration proceedings.
August 12, 2022
Following appointment by the Claimant, Todd Weiler (Canadian) accepts his appointment as arbitrator.
September 19, 2022
Following appointment by the Respondent, Pierre Mayer (French) accepts his appointment as arbitrator.
November 1, 2022
Following appointment by agreement of the parties, Lawrence Collins (British) accepts his appointment as presiding arbitrator.
November 1, 2022
The Tribunal is constituted in accordance with Article 37(2)(b) of the ICSID Convention. Its members are: Lawrence Collins (British), President, appointed by agreement of the parties; Todd Weiler (Canadian), appointed by the Claimant; and Pierre Mayer (French), appointed by the Respondent.
December 7, 2022
The Tribunal holds a first session by video conference.
December 20, 2022
The Tribunal issues Procedural Order No. 1 concerning procedural matters.
April 6, 2023
The Claimant files a memorial on the merits.
May 4, 2023
The Respondent files a request to address the objections to jurisdiction as a preliminary question.
May 18, 2023
The Claimant files observations on the request to address the objections to jurisdiction as a preliminary question.
June 8, 2023
The Tribunal issues Procedural Order No. 2 concerning the Respondent’s request to address the objections to jurisdiction as a preliminary question; as a result, the objections to jurisdiction are joined to the merits of the dispute.
June 29, 2023
The Tribunal issues Procedural Order No. 3 concerning the procedural calendar.
August 31, 2023
The Respondent files a counter-memorial on the merits and a memorial on jurisdiction.
October 20, 2023
The Tribunal issues Procedural Order No. 4 concerning the procedural calendar.
The case continues
Outstanding
3.5Zt Interestingly 9 is the next target perhaps .
When will return to London be achieved .
Middle of 2024 still looks most likely .
Outstanding
Back up towards 3 Zt . Thence back to 2Zt .
The disappearance of Elbit from the shareholders list should coincide with Our Phoenix like return to Market in London .
March/April 20204
Outstanding
Back up towards 3 Zt .
Will these shares ever return to Market ?
Maybe
Outstanding
Property developer Plaza Centers is seeking €262.2 million in damages from the Romanian state, alleging that it recorded massive losses from the Casa Radio project in Bucharest. The company filed a complaint with the International Centre for Settlement of Investment Disputes (ICSID) in Washington.
The developer planned a mixed-use scheme, and the Romanian state should have been a minority shareholder in the project. Plaza Centers said it allocated €85 million for this investment, but the construction works did not advance.
In the meantime, the developer clinched a deal with AFI Europe to sell its stake in the project for around €60 million. The transaction should be completed by the end of 2022, according to rhn.ro.
The land and abandoned buildings of Casa Radio were leased to Plaza Centers for 49 years, in view of redeveloping the area under a Public Private Partnership (PPP)
Outstanding
Plaza Centers N.V. v. Romania, ICSID Case No. ARB/22/15
Outstanding
Back to 2Zt
One day this Company may return to the Market here
Outstanding
Back above 3zt , can this little bunny surpass 4zt
Outstanding
Plaza Centers NV - Amsterdam-headquartered property investor with interests in Europe and India - Says since announcement on March 31, Elbit Imaging Ltd has sold about 14,600 shares for an average price of ILS1.578 each for a total ILS23,000 (around GBP4,857). This reduces Elbit Imaging Holdings's interest to around 20%.
Current stock price: 20.00 pence
12-month change: down over 99% from 6,500.00p
By Jeremy Cutler, Alliance News reporter
One hopes the reduction in elbit continues , until next year`s relaunch
Outstanding
Good to see 4 Zt today .
Halfway to a fresh start at about £4 per share .
That is 4Zt , will be £2 a share ( approximately ) .
When ALL Issues are resolved . Including the Dutch Accounting Authorities .
Outstanding
Nice to see above 2.2 again though
Or even above 3Zt massive
Not long til above 9Zt one assumes
Outstanding
Looks like the wait for Casa Settlement will be the Big News .
See you next year then .
Outstanding
UPDATE REGARDING A LAWSUIT AGAINST ENTITIES INVOLVED IN THE SALE OF U.S.A SHOPPING CENTERS IN 2011,
More cash to add to the pile ( Possibly )
£35 ++
Outstanding IF Possible
Nice to see above 2.2 again though
Outstanding
Although Hevron`s performance thus far
Has been far from fulfilling .
Outstanding
Great News IF the deal goes through .
Come on Hevron , time is of the essence
Claim £328 million , LESS bondholders £110 million . SAY Value £200 million , which is X100 from today OR £35 per share
Outstanding
One hopes the re-birth here can match that of Range Resources .
Outstanding
One hopes Craven can be Our Inspiration.
One hopes by Christmas 2023 , not 2024 .
Very slow progress Hevron & Co
NOT Outstanding
Hevron have forgotten to sign on the dotted line.
Maybe by Christmas we will be wiser .
Outstanding
Another waiting game .
2.10 shows a little promise though .
Outstanding
Sometimes restructuring takes a long long time .
This has been about a year now .
Yawn
Outstanding