RE: Quarterly update?19 Mar 2026 08:03
I’m surprised by the recent drop in Emmerson, too. With the memorial due in the next two weeks, things should start moving forward, and there’s real potential for both parties to start exploring what type of settlement that could occur. Obvious next step will be for Morocco to respond and then the window for a deal truly opens (Q3 2026 ish)- neither side will want this going as far as final judgement and such a binary outcome. Assuming the memorial submission is claiming $2.2b or so, i think 20% of that very securable in an early negotiation and probably quite fair..... This is a really strong and experienced team that Emmerson have put together with Boies Schiller Flexner (BSF) as lead Counsel, it may take some time to play out, but a really good risk / reward play i would say. If it was to go to final judgement (that would probably not be to 2028 or so), then you wouldn't want all your money is as too sharp, but in the lead up, a huge chance for a settlement and many many multiples of the current valuation.