TSXV:HRE.H - Post by User
Post by
joeveston Jun 05, 2019 8:32pm
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Post# 29801418
RE:RE:RE:RE:The Challenge Facing Stans
RE:RE:RE:RE:The Challenge Facing StansTricky Game there's no question that Canadian courts would enforce an award granted by the Permanent Court of Arbitration. Prior to this happening, it must first be established that a given asset is owned by the Kyrgyz government. Since the Ontario Superior Court of Justice has ruled that the Centerra shares are not owned by the Kyrgyz government, there can be no enforcement of the award in Canada.
As for the funders, Calunius Capital came onboard in 2015, prior to the Ontario court ruling. Gillham LLC and Lucille Investments began funding Stans in 2017, which is a good sign. It would be nice to have access to the due diligence conducted by these firms, particularly in regards to potential asset seizures.
Who knows if changes in the Kyrgyz government will yield an attitude more conducive to foreign investment. Until now, Kyrgyz has shown little but stubborn refusal to settle with companies from whom they have expropriated. I could be wrong, but with their 2016 victory in Ontario, it would seem that the odds are against their settling with Stans.