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I think we have a very strong case. The way I see it is they unfairly revoked our licence and then tried to cheat us out of our claim . The court summises Indonesian officials were persuaded by Ridlatama. This is totally ridiculous as it could have just as easily been that Ridlatama was paid off by them. Or that indeed the whole thing was a lie in order to cheat us out of our claim How ridiculous to take money from both parties for years and then close the case with a supposition ???. It will become all too clear for the world to see.in the not too distant future I hope.
I do not think ICSID can bury their head in the sand forever. Italaw and CHL have published the full grounds. Anybody following including other companies and interested investors of other mining companies will. have seen our application .Not to mention governments diplomats and lawyers from around the world.
The Indonesians may of course only wish to pay a fee of estoppel which would be less.Would depend on how far Icsid could push them and what DQ and major shareholders would accept. I suggest IF they wanted to pay us rather than publish the annulment application in full that we are holding a good hand ?
So many pf the points were also contradictory quotes from the hearing which cannot be denied. Hoe embarrassing for ICSID !! Will they want to get out of this as the good guys and keep their gravy train rolling ?
Re Maestros reply from Iscid posted 12.38 today So it seems that once they receive an application they have to first determine if it meets their requirements before publishing it !!! How many points do they need FFS is not over 200 points not enough or are they stalling because they are embaressed and thinking of a plan B
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
http://www.italaw.com/cases/1479 Strange how this co have all the details and ICSID have not updated ?
,I think before annulment is reviewed ROI will have their say officially ? It has also been suggested that ROI may object to the STAY of Costs ? Do you think perhaps it could be a condition going forward that we have financial backing ? In which case Stay of Costs and financial backing should be announced at the same time ?
I think sp if we relist will reflect variable circumstances .The extremes that I foresee : .If we relist with no funding in place and if we relist with a backer with no fees upfont and then the loser pays as DQ has hinted at. Hopefully the future funding issue can be sorted simultaneously. We should perhaps also recognize how bullish it is that CC are stilll working hard for us .I am not a layer and time will tell but it looks like they have done a grand job of the annulment application Tey appear to have forensicly disected the award with a fine toothed comb..
Story image for indonesia mining from Netralnews Indonesian Gov't Ready to Protect Investors from Terrorism Threat Hmm it wouldnt be much different than to ask the terrorists to protect us against the Indonesian government ?
Far too many faults to begin listing ie how was chl supposed to recognize fraud when the Regent The police and the Corruption comity could not find ? CC have done a splendid job of finding the faults with a fine toothed comb and listing them for the world to see and should be congratulated .No wonder they are still working for us as they must have faith they will be paid.
I feel like this report is very damning for the ICSID reputation and hope they will wish to brush it under the carpet as quick as possible by persuading ROI to settle. There must be a lot of people in high places cringing ! We know ROI feel no shame but maybe now that Iscid is exposed they can turn the tables with the award and just compensation ?