Stans Award - Hope for a settlement out of the gatesJust to give an idea of how much time an award can be tied up in court after the arbitration award date. For example, two of the most recent cases we have highlighted on this board –
TMI v Bolivia - award (was approx. 7% of claim) made in August 2018; still no word June 2019 of any settlement or further court action. Without settlement then look for another legal year plus of wrangling.
Rusoro v Venezuela - highlighted by other posters on this board. Award made August 2016; latest appeal dismissed May 2019. However, note - yet to be a move towards any payment of the approx. 50% award as the damages were annulled by French Court in Jan 2019. Court still allowed the $100 mill (approx. 8% of the originally total award amount) agreed to be paid earlier prior to annulment by Venezuela, but you guessed it, it’s nowhere to be seen.
As several have suggested on this board Stans better hope for a large award and settle if possible for a smaller amount. If they don’t come out of the gates with a settlement (hopefully in July) then we longs better hope that the REE story just keeps trending up.
GLTA -
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