RE:RE:Sherritt's Position re Title IIIWell if guess if nobody else is going to take a crack at this I will.
Here is the thing. 1. the entity holding the nationalized Moa nickel mine is a JV between Sherritt and Cuba to which Sherritt contributed a refinery. It is not clear that there is a path to suing this legal entity. 2. if a judgement was successfully pursued against Sherritt itself (and here you have to think about whether Citibank would do so given the difficulty in collecting) there are laws in place in Canada (and the EU) both of whom do not recognize the legitimacy of Helms Burton and which allow for counter suits - so in effect Citibank's business/assets in Canada would be at risk of a counter judgement and loss of assets.
A bunch of noise and unfortunately hardship for the Cuban people is all I see. We'll see what the impact of all of this is on overdue receivables from the other business units - an announcement about which I continue to impatiently await.