RE: Distilling facts from the Statements so far12 May 2020 03:27
CF73 - just a small point of clarification. The Tribunal was concluded last December. Between December to mid-April the panel calculated and assigned costs and finalised its decisions that make up the final award. We are now coming to the end of a 30-day review period in which either side could have asked for clarification, or can ask for an additional award if a topic was discussed during hearings but not addressed in the final award. As FRR seem eager for a joint statement it would seem they don't feel the need to go back to the Arbitration Board with regard to the current Award.
As Regdik says, this decision is above the PSA. The GOGC have been consistent that it would abide with the decision of the Arbitration Board. I think the 'logic' is "GOGC accept the return of 99% and FRR keep whats left. Thank You, Good-bye. But, please, before you go, GOGC can also decide that by accepting the 99% we can abide with the spirit of the Award - yes you keep 1% - and use that Award as proof of material breach and thus allow us cancel the whole PSA - no you don't keep 1%"
Or, posted 7th May -
"As for the statement of the Oil and Gas Corporation, the Arbitration Tribunal has unequivocally ruled out a substantial breach of contract by Frontera, which gave the state the right to terminate the contract, according to the director of Frontera, this is a distorted interpretation of the contract.
"By the decision of the arbitral tribunal, we have maintained 100% of the deposits from which oil and gas are extracted. If the state asks us to return the rest of the territories where the work is not going to happen, and we will not return it for 90 days, only then will they have the right to suspend the contract. We have said publicly and even written that we will return the territories where extraction does not take place. However, this article is deliberately, incompletely disseminated and distorted to the public. They have no right to terminate the contract, ”said Zaza Mamulaishvili."
There is also a quote from end April that says FRR ".....said it was pleased with the decision and called on the government to end its unfair PR campaign against them and other US businesses operating in Georgia.'"
Its like GOGC are Fox News and FRR are MSNBC
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