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Taverham In the event of a favorable outcome in the court case, I anticipate that enforcement will not present significant obstacles. Tunisia's close ties with Europe render it unlikely to pursue an independent course akin to Iran's defiance of international law. Moreover, Tunisia's ongoing application for assistance from the International Monetary Fund (IMF), coupled with the recent appointment of a new central bank governor, underscores its commitment to financial stability and compliance. Failure to honor international arbitration penalties, particularly those mandated by Washington, would jeopardize Tunisia's access to IMF funding. Additionally, specialized international funds exist to purchase granted but unenforced awards from successful claimants at a discounted rate, assuming responsibility for enforcement and subsequently realizing profits upon receipt of funds. This practice is now commonplace within the international arena.
Current mkt cap at the moment is tiny- gosh these were around £12 a share historically looking back at the charts!
"As any lawyer will tell their client, there is usually no good commercial reason to sue “a man of straw”. Put simply, there is no point bringing any proceedings if you cannot enforce them."
https://www.franciswilksandjones.co.uk/international-arbitration/
Lol, so no one trades with Tunisia as they want to develop a reputation of non payers! I still believe this will come good and they won't be allowed to get away with no paying up
Fre, it took us over 40 years to pay iran money we owed them for Tanks that were not delivered and even then we only paid to get some hostages back - what leverage does Zen have ? If it were a bhuddist company , zen might stand a chance lol.
'So after millions spent in the courts the company wins the ruling but Tunisia does not pay, then what?'
It does trade with BRICS and becomes an ally with Russia and Iran?
I suspect just one person in Tunisia in a position of power is responsible for these events. I would like to know what their motivation was for their actions, possibly because they were not getting a 'kickback'?
Until the money owed is in our accounts we are in a bit of a bind. However it is a weight off my mind considering I'm 80% down in this.
Around $140million due to ZEN, can't jus get away with it, they'll need to pay up
So after millions spent in the courts the company wins the ruling but Tunisia does not pay, then what? Send them a threatening letter ? Send the boys round? Is any African country a safe place to do business these days?
Extraordinary dividend to shareholders too and claim value way way above current market cap. Nice update
Sounding positive on all 3 fronts just about how long the cases and payments actually take.
It would could to understand what is happening to recover money owned from SNPC in Conga in addition the outstanding Paris court case.
Hi just post it on here but somewhere else, enter sandstorm into the search bar it will bring up ovgm a canadian company nobody posts in and post it there ;-)
" For Cattaneo, the aim is still to broaden his horizons. After visiting more than 130 countries, the Italian is now setting his sights on the West. His sights are set on the United States. “I feel more secure when investing there,” comments Cattaneo. Betting on the world’s largest economy is an obvious choice. "
" n Tunisia, for example, the situation suddenly capsized in 2022. After a variety of breaches of the investment law made by the local authorities, Zenith is now the Applicant in three arbitrations against the Republic of Tunisia, two in the International Chamber of Commerce of Paris, and one in the ICSID, an entity created in Washington by the World Bank to protect investors confidence in bilateral treaties. The total amount of claims has reached 140.3 million USD. "
Didn't seen this before which shows us clearly the Congolese and the Tunisians cannot get away without paying us..............gla
Just catching up on Zenith on google search and found an article on AC....................interesting brief on him and his background...............DYOR
https://bmmagazine.co.uk/business/andrea-cattaneo-itinerary-of-a-self-made-man/
Paul what’s your email found the clip from couple weeks back. You might need an Arabic interpreter though. The court case will go in zeniths favour again just depends how much we need to pay back the legal people even 50% of 150m will be a huge result for us comparing to our current market cap. Everyone back into the crypto market and the uk stock market is getting no love, will change in a couple months though.
Seen a sell at 2.4p / 0.24p (pre consolidation)
Is this an all time low? What is the ATL? Anyone know for certain?
Or maybe the Tunisian court case is ?
We are in precarious times here, I fear some holders are dumping as no new news on KZK.
Flashgarden $150m court case pending
The risk will be worth it when the court case is concluded and the Tunisians have already been fined twice for not adhering to the rules. We will win just depends when and how much of $150m after legal fees.
Perhaps we resent the 'perceived' success rate approaching zero; and by 'perceived' I of course mean 'actual' . Their main success has been associated with a global spike in energy prices that was outside their control and influence. No doubt the zealots will start blaming corrupt regimes for the situation but IMO that is like blaming traffic for being late when you have chosen to travel at rush hour, through the city using a route with major roadworks. They knew the score. They chose to do it despite the risks. At this particular moment in time their success rate is virtually non existent imo.
Yeah come to think, what do we resent?
'perceived'???
Plus sitting on 80% losses
Think the key words on this BB tend to be connected to: bitterness, perceived grievance and resentfulness .
Yes another 8 to 9 boe gas per day from October will go down a treat if successful. Partners missing out by not participating.
Funny how no one comments on this? Lol