To Be or No To Be?Enough of the debate as to arbitration or not. Surely we will know the end game in the next week or so. I think we all realize that arbitration or a negotiated settlement will give us a satisfactory result. We have been holding out hope that the Government will eventually do the right thing by EOM. The jury is still out on that as their track record is abyssmal in that regard.
In any even, if arbitration is necessary EOM will no doubt be the winner. It then will be a real chore to collect. While there may be some Colombian assets abroad that could be seized ( if the host country is a signatory to the convention) it would be very cumbersome. The best scenario would be the seizure of Grancolombiana ships or Copa Airlines aircraft, both have Canadian destinations for ships and aircraft.
Hopefully arbitration can be avoided but I just wonder what the effect would be on the World Bank loan. The arbitration award would probably be about the same values as the $675 million loan. Would it still be a good investment for the World Bank? It will certainly give them pause
Let's keep our powder dry fit the next week or so. Hope for the best but prepare for the worst.