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Happy,
I can't give you a percentage chance of Italy paying up.
The latest survey states "The States reported compliance with 35 of the 41 Awards of Costs and/or Damages in favor of the Claimant" Although there were a number of non-respondents in the survey
https://icsid.worldbank.org/sites/default/files/publications/Report%20on%20ICSID%20Survey.pdf
Mogger
Mirasol,
"that was those corporations not the Govt itself"
I struggle to understand why you are so keen to show your ignorance to the wider public.
British Gas and BNOC were created by acts of parliament ( the gas act of 1972 and the Petroleum and Submarine Pipe-lines Act 1975). They both reported to the Secretary of State and the provisions for both acts detailed how the two corporations could receive loans and financial guarantees from the government.
Are you trying to suggest they were private companies?
"and it was all done under Tony Benn" - wrong again
The Gas Act received royal ascent in 1972 under the Conservative Government of Edward Heath
Mogger
Mirasol
"The UK Govt has never ever given money to develop an oil and gas field even in the UK for over 60 years"
You made the same incorrect statement in April. My answer is as true now as it was then
"That is also complete nonsense. Through the National Coal Board, British Gas Corporation and BNOC, the Treasury put around £600m into buying licences and getting fields to production in the mid 1970's"
Anything else you want to make up?
Mogger
Mirasol,
So your argument against my suggestion that you are clueless is " we'll see" ???!!!
I did suggest you conduct some research before posting. Have a read of the attached and come back to me where it states:-
"so you have to wait for a slot for a hearing to get a court order - in the UK that might be 12 months for example"
"and they'll ask the Italians if they wish to be represented"
" a lot more court cases before they got their money"
Mogger
https://unctad.org/es/system/files/official-document/edmmisc232add8_en.pdf
Mirasol,
You really should do some research before writing such nonsense.
This action hasn’t got anything to do with Italian law and won’t “grind” through anywhere near Italy.
If Italy don’t pay, which will be very unlikely, the enforcement will take place in the UK or US. Even then the process is clearly defined in the articles which means that the ICSID award is regarded the same as if the highest national court had come to the same verdict. Therefore it can’t be challenged in any national court.
Why haven’t to sold yet?
Mogger
All,
In an effort to stop the misleading posts regarding annulment, please read the attached. For those short on time, the executive summary starts on page 5
https://www.biicl.org/documents/10899_annulment-in-icsid-arbitration190821.pdf
Mogger
Leo,
I'm not sure your figures are accurate. At best you are using the wrong statistics. Have a look at concluded ICSID cases that have Italy as the respondent. The five cases were either won by Italy or the award to the claimant was just costs.
The vast majority of awards get paid before enforcement.
https://icsid.worldbank.org/cases/case-database
Mogger
Free Speech.
"The problem with today’s world is that everyone believes they have the right to express their opinion AND have others listen to it.
The correct statement of individual rights is that everyone has the right to an opinion, but crucially, that opinion can be roundly ignored and even made fun of, particularly if it is demonstrably nonsense!"
Brian Cox.
A wiser man than Latics/Glenn/Godders/James
Mogger
All,
Still a bit of work to be done but it's all there in black and white.
Look under the "Sustained Economic Development for the Islands" section
https://www.falklands.gov.fk/assembly/executive-council/papers?task=download.send&id=3496&catid=538&m=0
Mogger
DEM,
Quantum was discussed very early in the proceedings. David Wilson( of Equipoise) prepared a Rebuttal Export Report for the arbitrators. The Italians had access to the data room to determine reserves as well.
Mogger
All,
Investor Presentation for you all . Google translate will help.
https://maya.tase.co.il/reports/details/1450102
Mogger
All,
New and improved CPR released by Navitas
https://maya.tase.co.il/reports/details/1450060
Mogger