Berkeley Eng Share Price (BKY)

Bifurcation consequences.

https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/24/22

ICSID saying merits proceeding suspended.

29/6 RNS: BKY say BKY "will provide an updated procedural timetable in due course."

6/2 RNS said: "Spain has until July 2026 to respond to the Memorial of Claim (or until October 2026 to submit a Memorial on Jurisdiction, if the ICSID tribunal orders that issues of jurisdiction be heard and determined before issues of liability and damages)."

So next up is Spain's Memorial on Jurisdiction by October (although the current language from BKY and ICSID perhaps suggests that timeframe could be pushed back) which BKY must presumably consider and respond to, before the Tribunal rules on it. Spain will doubtless try to delay as much as possible too whenever it can. We'll be lucky to see any progress on the liability and damages claim before the 2027 election.

Apropos recent discussion

BBC News - Spain's Sánchez digs in after eight years as PM as wave of scandals threatens survival

https://www.bbc.co.uk/news/articles/c1w21gn340xo

Could happen anytime I guess.

I also remember Sanchez's silly self indulgent performative withdrawal from the public eye in 2024 for a period of reflection! The sp jumped on hopes he'd go but he came back and carried on! Might happen again?

One thing's for sure - general election by summer 2027 latest.

The core speculative play right now is a bet on the imminent collapse of Spain’s anti-nuclear government.

With Spanish police literally inside the ruling Socialist party's headquarters conducting searches over corruption allegations, and the party suffering devastating, historic losses in regional elections like Andalusia, Prime Minister Pedro Sánchez’s grip on power is fracturing. This has pushed speculation about a snap national election to an absolute fever pitch.....

Looks like I won't get my 20p top up and yes a bit of a sp recovery. And yes maybe something going on.

I'd like to see a quick firm dismissal by the arbitration tribunal of any jurisdiction issues. Spain will be well and truly in the spotlight and under pressure then. There's no indication they have a leg to stand on! Hopefully the tribunal has both teeth and cojones to get this pushed along quickly, and any time wasting identified and punished.

The macro background, EC pressure and spanish election with the hope of change by next summer might all give further sp impetus.