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They already told us this about the financing of the arbitration:
https://www.lse.co.uk/rns/ZEN/icsid-arbitration-against-the-republic-of-tunisia-gq8ybgaxhy5ivp8.html
"The Investors can confirm that, in the interests of preserving the Company's cash reserves at a time of intensive expansion and development activity, they are in advanced negotiations with a specialist third-party litigation funder for a 'no win-no fee' financing arrangement to support all the costs in connection with the Arbitration."
Don’t forget to moan for the next couple of months ok? Just make sure it’s daily how I like best. Lol
Best you just put that money into your piggy bank towards that reverse lobotomy op. you've been saving up for for such a long time now TYB :-)
Good timing but I would have paid not to hear your moaning for couple months
I topped up here today... only because I have a good feeling particularly about this arbitration against the Republic of Tunisia..
Zenith Energy have one of the worlds top law firms representing them in their $180 million case vs the Tunisian govt.
Expensive? Not if you have litigation finance firms so convinced of success that they are lining up around the block to fund them. @zenithenergyltd
@ ladyofaim
May enter at current levels for the arbitration results
Merlin You’re tired of winning $150 million for the company? Good logic there. They’ve basically hired the best in the field and pretty straight formality to win over 20 times the money of the current market cap.
Personally I'm tired of these arbitrations and what to know how we are progressing on that front.
Zenith Energy Ltd. has engaged the prestigious law firm Gibson Dunn & Crutcher LLP to represent them in two major arbitrations against the Republic of Tunisia, aiming to address significant damages to the company and its shareholders. The legal team includes Rahim Moloo, recognized as a ‘Global Elite Thought Leader,’ and Robert Spano, the former president of the European Court of Human Rights. Zenith’s CEO expressed confidence in the firm’s ability to assist in the redress process.
Hiring a former president of the European courts of human rights I am pretty certain this is now a guaranteed win.
If you believe that Zenith will announce the appointment of one of the world's top law firms to handle their arbitration claims against Tunisia without having considered how to finance it, you are mistaken.
It is highly unlikely that the company would make such an announcement only to later retract it due to an inability to pay.
Many large companies offer litigation funding for these types of actions, and it is standard practice to finance arbitrations in this manner. I anticipate that we will soon receive news that Zenith has secured a financial group to cover all their legal costs, enabling them to proceed confidently.
At what cost, they have no money to pay the ongoing fees before it even reaches court
ZENITH ENERGY LTD.
("Zenith" or the "Company")
Update on Arbitrations against Republic of Tunisia
Zenith Energy Ltd. (LSE: ZEN; OSE: ZENA; OTCQB: ZENAF), the listed international energy production and development company, is pleased to provide an update regarding the ongoing ICC Arbitration for SLK against the Republic of Tunisia ("ICC 2 Arbitration") and the ICSID Arbitration against the Republic of Tunisia ("ICSID Arbitration").
Zenith Energy Africa Ltd. ("ZEAL"), Zenith Overseas Assets Ltd. ("ZOAL") and Compagnie du Désert Ltd. ("CDD") have appointed Rahim Moloo and Robert Spano of the law firm Gibson, Dunn & Crutcher LLP ("Gibson Dunn") to act as counsel in their claims against the Republic of Tunisia brought under the bilateral investment treaty between the United Kingdom and Tunisia under the auspices of the International Centre for Settlement of Investment Disputes for the ICSID Arbitration.
Similarly, Canadian North Africa Oil and Gas Limited ("CNAOG") has also appointed Rahim Moloo and Robert Spano of Gibson Dunn to act as counsel in the parallel arbitration proceedings brought against Tunisia under the auspices of the ICC for the ICC 2 Arbitration.
Gibson Dunn has appeared in numerous high-stake arbitral proceedings before all major arbitral institutions. Gibson Dunn's international arbitration lawyers are regularly ranked by legal publications.
Rahim Moloo is a partner and co-chair of the firm's International Arbitration Group. He has been recognized by Who's Who Legal as "one of the most skilled advocates of his generation" and a "Global Elite Thought Leader".
Robert Spano is the former president of the European Court of Human Rights, the youngest judge ever to be elected to the presidency in the Court's history.
Andrea Cattaneo, Chief Executive Officer, commented:
"We are delighted to appoint Gibson Dunn, one of the world's leading arbitration specialists, as legal counsel in relation to the ICC 2 Arbitration and ICSID Arbitration.
The Company will work closely with Rahim Moloo and Robert Spano with the objective of redressing the very significant damages caused by the actions of the Tunisian authorities to the detriment of Zenith and its shareholders."
You heard it here first flash. 5p by Christmas!!!!
Don’t hate the player hate the game!
I’m in your thoughts 24/7
' zenith....will continue to progress in Africa'. I heard that first from you too. In fact I have heard lots of firsts from you, none of which have come to fruition.
5p by xmas. mmmm How long after that till you fully recover your losses? Remember, we know your purchase prices and amounts because you advertised them as a delusional, self proclaimed guru.
You have claimed more bottoms than the village people.
Up 3% today
5p minimum by December you heard it here first
:D
Lol is so yesterday......just like ZEN.
Drip Drip Drip.....the pension is draining away.
Drip drip drip.
The fact you’re writing an essay about me shows I have got into your head lol.
Arbitration success = 10-15p
Keep thinking about me for another decade lol
Yes I dream about you with a big smile on my face knowing you are well down on your 'investment' and are getting your reward for your demeaning and insulting remarks to anyone who dares to disagree with you. Yes I dream about you TYB and any time I feel a bit low I visit the ZEN page. When I see the share price and see you are still here I cannot help looking back through posts where you advertised your purchases and made uber positive predictions whilst at the same time speading vitriol against any doubters. ahhh how I am cheered up by doing that for not much more a few moments looking through your posts. It is the best.
Everything you say about me I will just agree with. You have no where to go because regardless of your taunts I have that warm glow inside knowing that a GKP one time wonder that thinks they are the guru is pouring their pension down the drain. oh joy.
In fact I stand by what I said, once we win the arbitration the price would be 15 times higher than what it is now at least :)
Flashgarden makes me very happy that I’m in your head
Flashgarden I’m glad you think about be me and spend your days scavenging my posts on a daily basis. Seems like you dream about me 24/7. Mls shouldn’t be too far behind give it couple mins.
'Unlike dumb and dumber pretending to be invested trying to get revenge on the company after buying at the top and can’t let it go. Fact is zenith have transformed over the last year and will continue to progress in Africa.' TYB 12 nov '21. Amazing TYB 'facts'. As regards calling dissenters 'dumb and dumber', price on 12 nov '21 was over 5.5x what it is today. Who is dumbest?
Tunisia would have made us a 30p company by now but unfortunately that’s the issue with the corrupt regions such as Africa. If we get even a quarter of the $150m I will be a very happy man, which I think we will.
I don't think we asked for all this litigation ,the company was forced into it by the 'sharp practise ' of others.
Zen should just give up on oil and become an oil litigation company.
If we'd got the Coro assets when we tried we could have had another one on the go there as well.
Maybe we should make a well timed approach to buy their rights to the Bezzecca legal claim since they are church mouse poor right now.