RE: Ireland and litigation4 Dec 2025 18:51
Remember the presentation in October where we were told "One minute past midnight on the 31 October it'll be trick or treat time"?
What that was telling us is that if Ireland didn't give PRD a suitable reply to its demands of a decision, with some options provided by PRD, if Ireland ignored that request then litigation would be initiated at 00:00:01 on 1 November.
As there has been no news to the contrary, PRD are already well into the litigation process.
Once PRD have had independent financial loss adjusters from the O&G sector calculate the size of the claim, then the claim can be submitted to the ICSID. At that point we should get an RNS detailing what Ireland are being charged with and the size of the claim.
Incidentally, the ICSID is a World Bank organisation, they are the pinnacle of international commercial courts.
It's been almost 5 weeks since litigation was initiated, so I feel we are getting close to an RNS with the amount being claimed, which undoubtedly will be far more than the current company valuation of £21.96m.