Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
We all know how arrogant and shameless ROI are but a read of this report seems so damning to ICSID..Lets hope they feel some shame and find this damning enough to push ROI into a corner with a settlement. http://www.italaw.com/cases/1479 149. In their letter of 8 December 2014, the Claimants observed: Indonesia’s case of "deceit" does not require mere "mistakes" to have been committed, but utter and reckless disregard for official duty by a host of Indonesian officials, including the entire Regency staff and the Regent himself. 154. The Claimants' argued that, if an "insider" was involved, "the immediate legal consequence [would be] that the State would be responsible for the criminal 156. Despite the Tribunal finding that State's officials had probably done wrong – "the forgeries and the fraud were orchestrated by author(s) outside of the Regency, most likely Ridlatama, who benefited from the assistance from an insider to introduce the fabricated documents into the Regency’s databases and archives * 225 – the Tribunal did not apply the international law of State Responsibility. In not doing so, the Tribunal exceeded its powers.212. If that is the standard of reasoning parties should expect from ICSID tribunals, investors – especially those in the mining sector – will rightly lose confidence in the system. The ICSID Convention was intended to promote foreign investment but awards like the one in this case may well deter it, especially in sectors dependent upon technology transfer
Maestro I suspect many have eyes on the Churchill website ! I would have thought after all the time they have had to prepare that they would be able to put the details of the application up by Monday thus giving the other side the weekend to stew and decide their next move. Could we assume if the details are not on CHL website their could be frantic negotiations going on behind the scenes to avoid the publication and find an amicable solution? On the other hand is it possibe that they may wait for ICSID to approve the annulment before making waves ? Very interesting times ahead I would say ?
So lets get this straight ! They accuse us of forging the licenses and stop the court case [license unfairly revoked } Yeah ? Then they say they forged it [one of their high ranking officials in a position of responsibility} Then we lose everything !!! REALLY ?????????????
A quote by Neo on advfn Indonesia concede that without an insider, the sophisticated fraud was not possible, so without Mr Putra this fraud was not possible *********************************************************************************************************************************IMHO Icsid should have for this reason found Roi guilty of fraud and at least offered us compensation.
My point always has been IF it was a high ranking Roi official and an Indonesian co that forged our licenses and did not notice as we were raiising money paying to evaluate the asset and payng rent.They only suddenly noticed app 6 years into various court dealings a police and KPG check that the licence was forged. What kind due diligence could we have done if the police kpg and officials that took our money had not noticed forgery. IF high ranking ROI staff had a hand in forging the license it was to let us pay for as long as it suited then revoke the license which would make them guilty of dispicable behaviour and we should be duly compensated and ROI shamed.The forgery issue I believe was all fabricated anyway to prolong the case and see us run out of money.It seems like ROI now have dug themselves a hole or will they put Putra and Noor in jail to rot to prove their lies ?
If CHL were hammered I would have expected an vivid account of the drama and fiasco in the Sunday press at least. ROI were quiet meek and humble when they won [perhaps they knew they shouldnt have won and not to gloat } The other thing that struck me as strange was the wording in the RNS 28TH Feb It also struck me as strange that 11 weeks had not been enough time to process an application for the courts ? Option 1 we lose all if we dont apply or application is rejected Option 2 we go back to the courts for an idefinat length of time. Option 3 We are actually striking some sort of compensation deal in the background Many of us have weighed up the facts and dreamt before so we are all disillioned and afraid to hope .We cannot now be accused f ramping as it will have no effect .We can only wait and see. Considering that the courts decided it was probably an Indonesian company and a ROI insider that means foreign investors were cheated and should at least be compensated . Perhaps option 3 really is an option ????
Why does there seem to be a news boycott on this story ? Why is the British press not furiosly protesting against this ? The result was published but are reporters blind as well as stupid and just report parrot fashion ? I remember it was stated at some point by Icsid that cases should be battled in the court rooms and not in the press .I think if this was all over there would be some stories in the press ??? To me this means its NOT over
Surely if he was an employee of the Indonesian government it makes Indonesia responsible.? Especially if he his still working for the government .It stinks of a masterminded plot to allow us to raise money to find the coal but then we find too much they have the perfect excuse to revoke the licence .The courts must be blind or stupid to let them get away with this and charge us $9m .Either that or they are also corrupt. Surely such blatant corruption on the world stage cannot go unchallenged ???
Maestro it certainly beggars belief that the industrial world relies on ICSID and how they can justify the astronomical charges and time frames necessary only to conclude or sum up in such a diabolical fashion.
Maestro I for 1 am very grateful for all the research you have done on our behalf when others either dont have the time or are too lazy. This could go 3 ways.. 1 we apply and get the annulment and wait for an unknown length of time. 2 we dont apply or dont get the annulment. 3 Roi settle with compo before raking up all the mud again. I for 1 thought option no 3 was also worth considering but not banking on.
I fear if we appeal ICSID may have some egg on their faces .After all they mixed up the Claimant and the Defendant and they used Noors evidence when it was supposed to be struck out. They took the word of ROI for granted and to top it all summed up the case with assumptions. It is known that whenever possible the court reccommends mediation between the parties and DAMN RIGHT if there appears a case for compensation ICSID would surely prefer not to bring back to court and shame themselves...
Iselee Yes we have kept up ! This was our reasoning and it seems Maestro also thinks there is a chance . We must not get excited but I did say a while back that IF we have fresh evidence and IF it is damning enough there could be a small possibility of them hammering it out behind the scenes.The last thing ISCID want is ill repute and embarresment and I think they would encourage a private settlement rather than to be seen as unfair themselves and lose their credibility ?
So IF IF IF ICSID would press and encourage settlement they would want it to be sealed before the application deadline so as not to muddy the waters. CHL would not be able to let the deadline pass if they think they have the sure fire required new evidence..
Maestro.We must not get excited but I did say a while back that IF we have fresh evidence and IF it is damning enough there could be a small possibility of them hammering it out behind the scenes.The last thing ISCID want is ill repute and embarresment and I think they would encourage a private settlement rather than to be seen as unfair themselves and lose their credibility ?It looks to me like either trying for annulment or the chance of compensation direct.. I also thought the 28/2/17 RNS was perhaps deliberately too bland suggesting maybe more than met the eye..
http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=127394000 Over the years I have always followed any news on this company always assuming they were our partners.It would not surprise me f it still is this group.