Out of court settlement.9 May 2020 14:53
On 1st ofMay B-2-0 posted :-
"10 months ago ZM signed a goodwill agreement as part of the OOCS, a separate company was created to manage the OOCS contract, the goodwill agreement is part of the OOCS and honours the outstanding claims being made by the GOGC against FRR, and to be explicitly excluded from the OOCS and protect the contract stakeholders. The Arb has settled those claims, and particularly in relation to the significant $100m claim which has been rejected. The payment to be made is for the outstanding taxes $200k and for the reimbursement to the GOGC for FRR's portion of the costs - split 50/50 as the GOGC paid the fees upfront. FRR have acknowledged the handing back of the unused land and as part of proceedings and withdrawn their counterclaims and bringing proceedings to a close. GOGC are threatening to terminate the PSA relating to the land in question and request that FRR honour the Arb resolution. GOGC will no doubt be seeking certain resident SM's to engage in negotiation of their newly acquired land I am sure."
Does this goodwill agreement have any teeth?
Is an oocs signed off and supercedes the arb decision?
Has a new extended psa been agreed?
Zaza, please give us a sign........