A few points re - RKH, BEY, LOGP & EOG22 May 2023 09:37
Https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/17/14
A few points re - RKH & BEY, etc.
RKH have were unanimously awarded €190M & approx. €50-60M interest at Euribor 12 month + 4%. Italy is trying to have the case annulled, with a 5-10% recent chance of success. In the next 2 weeks, Italy & RKH have to agree on a bank/escrow account, where either Italy deposits the award or RKH must deposit the proceeds of all seized Italian money/assets. Otherwise, RKH can choose its own bank/escrow. The final annulment decision will not be know for 12-18 months.
With BEY, see part of longer post from Swiss on BEY (21 May 13.09), basically using a newer financial clause, which would not be valid under existing ECT/ICSID rules, depending on dates of the licences.
"Ryan is using a very tenuous clause within the financial capability assessment, as in the 3.5 times investment cover, the relevant section of the document is below and you will note, that the regulations even acknowledge that other forms of funding capability evidence can be provided, which Barryroe have done so via the funding model with Vevan and the other major shareholders".
All to play for & I hope my PRD, EOG & BEY fly :-) GLA, DYOR, DONALB