London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
It’s part of the eu so there is much more rule of law than in many other mining countries.
Expropriation by the backdoor could lead to a serious backlash against Poland and any inward investment
The bod aren’t intimidated, hence the swift legal response & court so far in PDZ favour so prime facie, it appears independent of the executive.
JSW are the vocal ones with about wanting the company if the reuters reports are correct, clearly they want it and have gone public - not quite sure why they have done this - the Bod rightly are silent - the best tactic.
So at the moment, there is a 12 month period when nothing will happen apart from a compromise deal.
But to me the most important thing is that currently, the assets are on neither companies balance sheet - nor adding to national GDP - so its a stalemate and a lose/lose/lose atm.
Perfect recipe for a decent symbiotic compromise .
That said, the above only holds if business sense prevails - not guaranteed in todays personality volatile world!
Daniel Orzon (JSW president) has been vocal about his plans for the Praire assets. He needs the support of the unions, the government and the Polish public to take his plans for JSW forward. Without clear support (for his plans) from these interest groups he would fall victim to the Energy minister's alternative plans to sack him.
No doubt but the mining assets are controlled by the court for the foreseeable future , not the unions, public or government. And the unions will have discussed, its not in their members interests ( or any other persons) to have idle assets Fascinating to see how it unfolds given national importance and size
The Ministry of the Environment are effectively in control as they have not issued the Mining Usufruct Agreement. We do not know if this is for a legitimate reason or not. Prairie has an injuction (to prevent the Usufruct in favour of a third part) but this does not have any other implication. So it would be more accurate to say that the mining assets are controlled by the government.......etc.
As the gov are not free to deal with the asset until the hearings are concluded, it is the court who control it until the matter is heard and adjudicated by them.
So I disagree - ATM by virtue of their injunction, the court is in control albeit from an inactive viewpoint.
One would think if there is a legitimate reason for non granting, JSW would just sit and wait
As the gov are not free to deal with the asset until the hearings are concluded, it is the court who control it until the matter is heard and adjudicated by them.
So I disagree - ATM by virtue of their injunction, the court is in control albeit from an inactive / freezing it viewpoint.
One would think if there is a legitimate reason for non granting, JSW would just sit and wait
The position is clear in the latest quarterly report (31 Oct 2018). The Ministry of the Environment can issue the Usufruct to Prairie at any time. The injunction prevents them from giving the Usufruct to anyone other than Prairie.
"...........The court has ordered that the MoE does not grant any concessions ...... to any party other than PD Co Sp" (Prairie).
At a later date Prairie may take "...further action against the MOE including invoking ..... (action) under any bi-lateral of multi-lateral investment treaties...."
They effectively control it by saying you can’t offer it to any other entity if you usufruct. So if they want to go a n other, they have to apply to court to lift the injunction and the case is heard Time, spotlight, reasoning etc all risks to be factored in It’s complex - that’s my point