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I read an average of 8 weeks to find an ad hoc team. I posted the link a while back. I also read an average of 24 months for result. Then 33% of cases that are accepted come to some sort of agreement between themselves during the case. I know ROI have no shame and are thick skinned but I dont thinkl ISCID will appreciate being shown as incompetent and glaringly unfair so I still hope they will encourage ROI to find a solution to put an end to this saga.
https://icsid.worldbank.org/en/Documents/resources/ICSID%20Web%20Stats%202017-1%20(English)%20Final.pdf Plenty of graphs and statistics here.It seems app only 1in 6 claims are accepted so thats the hardest part done ! Then only app 1 in 4 win. Keep scrolling down and app 33 % are sorted 1 way or another with the parties in 1 chart Award upholding claims in part or full 43% in another Many statistics. take whichever 1 you want but basicly it depends on the case and I think we all agree that we have a stonking good case. We all thought we had a great case but now its just waiting time not time to get pessimistic.
If we have given 17 reasons for annulment and we only need 1, I cannot for the life of me see this taking a long time. They only have to read our application once and the Noor reason cannot be argued. Surely even ICSID will not need lengthy drawn out meetings to agree almost immediately this should be annulled ? Personally Im thinking anybody short should be worried and I dont see why they should make money then buy cheap and gloat ! I sincerely think they may even have difficulty assembling an ad hoc team and ICSID could pressure ROI to settle and save everybodys faces.. They never fail to surprise us though !
Maestro makes a very good point ! As a face saving buying of CHL shares has already been mentioned by DQ by a Roi friendly company.Maestro makes sense. When we researched which company that could possibly be at the time it turned out that ROI owned 50 % of the shares anyway ! Let them pay full whack if they want a get a cheap get out of jail card !!!
I am wondering in the circumstances how difficult it is trying to select an Ad-Hoc team. I cannot imagine it being an easy task in fact I think it will prove to be a nightmare ! Being as they state on their website factually it has take an average of 8 weeks to set up Ad-Hoc team I would like to think that ICSID would rather it was settled before they have to get involved again ?
I agree with all of you ie ICSID damned if they do or dont annul the award.I think they have to encourage Roi to settle and hopefully that will be the next move.If ROI can find a way that lets them off the hook with with all the other claims that would follow they will.Lets hope they can pull a rabbit out of the hat. I cannot see ICSID getting away with this ROI have to be cornered !.
Yes Uncanny or there had been a suggestion that a ROI friendly co could offer a decent price to buy CHL and continue to mine the project with ROsI blessing .That would be face saving and save a lot of adverse publicity and hopefully for a sum that would satisfy major shareholders and PIs.There are companies in Indonesia that are 50% owned by ROI so it would provide a cheap way out for the and they would see a return on their investment. It would certainly be best for all if this was being hammered out now rather than later !.
Quiet right shocking ! UK do follow Big Brother though so maybe will join in at some point. I really feel that there could be a media embargo as we have all said the silence is deafening. I and many others have conducted google searches in the last few days and this article did not show up [4 days old]. I searched with multiple hooks this morning and finally this article showed up. Afterwards I tried again with hooks that should have shown it but it did not so I say we are lucky I found it and hopefully sooner or later the floodgates will open !
Pence not only spoke about US companies he outlined the CHL case too bearing in mind it was in a diplomatic way. The last paragraph was as well quite strong and to the point ! It was not only threatening them but reminding them that even if they leave ICSID the world has other ways and means to punish them .It also points out the possibility of a public ticking off and financial penalties. It tells them quite clearly to sort themselves out as their antics have been noted and will not be tolerated or the world will respond accordingly !
Quiet a bit of coverage here of our case concluding with some gentle reminders from the US 4 days ago http://mlexmarketinsight.com/editors-picks/us-vice-presidents-visit-puts-spotlight-indonesias-precarious-trade-position/ Indonesia may well be withdrawing from bilateral investment treaties that include investor-state dispute settlement clauses ― such as recourse to ICSID ― but it will still be subject to WTO rules. And if the government persists in kowtowing to economic nationalists at the expense of its international trading partners, and continues to subject foreign businesses to regulatory uncertainty and an uncompetitive business climate, Southeast Asia’s largest economy might find its goods are greeted with heavy duties and even closed doors overseas, and that foreign companies resort to international tribunals, possibly resulting in embarrassing, public tickings-off and perhaps even financial penalties.
The case of the arbitrator who was kept in the dark ! Litigation Mayer Brown LLP We have seen in the past and thought ROI must be squirming. After reading the full annulment application and seeing the title of this article published publicly in legal circles today I would suggest ICSID are now squirming and covering THEIR backs ?
This is the tiltle of the article I posted earlier. .The case of the arbitrator who was kept in the dark Litigation Mayer Brown LLP The court has power, under s.68 of the 1996 Arbitration Act, to set aside or remit an arbitrator's award if there is "serious irregularity" which the etc… ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Note the get out of jail heading arbitors kept in dark !