John6185
24 Apr 2016
Award Report leaked [link] Lammonds dissenting reporting report is out also, which is very telling indeed. iIt focuses on the Uzbeks intentionally undermining the due diligence of the chinese government, by carrying at out a number of aggressive actions against Oxus whilst the due diligence was being carried out, including: calling for AGF's liquidation, refusal to gant the mining license and sueing for the outstanding special dividend payment. The latter which only seemed to have occured because Oxus were sensible enough hedge gold price and exchange rate fluctuations. Reads like a stinking t**d, and I really can't see how the panel got away with this criminal decision. So I think the reason that they sought to supress publication is pretty clear.
RichardLY
29 Feb 2016
Dead Duck? N.M. N.M.
myepic
30 Dec 2015
Re: case lost so who now has ownership? Hi David I agree , I see very little chance of any positive outcomes from appeals , I think wider geopolitical influences in the region largely decided this one - Exit route for an Afghanistan withdrawal, a lack of will to try and inflame / enforce another west/east/russia conflict in the area, I am not massively surprised , I had about 500 pounds in for about 6 years so it has been interesting to follow , onward and upward , - clin.l plus pphe.l have more than balanced my losses over the same period same old eggs and baskets thing I learned at primary school 
, If only they had run basket assessment classes! 
Gold or Silver
30 Dec 2015
Re: Daviduzbek and Gold/Silver Pennyfalls , We all make mistakes .Ours was trusting Mr Shead .Good luck with all your other investments in 2016 .
Pennyfalls
29 Dec 2015
Goodbye everyone Good luck for 2016 and I hope things come right, whatever you get invested in. Our paths may cross on other Boards.Happiness and Health to all - and I'm sorry we didn't get that last Tango in Paris, Louise, but the journey to the club was a interesting one.All the best for 2016.
Pennyfalls
27 Dec 2015
Daviduzbek and Gold/Silver Fair play to you David for calling it right..Gold, I think I might owe you an apology - although it's not good news for us...I've read the RNS again and where is says case "dismissed, save for a finding of a breach of "fair and equitable treatment" ..It does mean that it was all dismissed EXCEPT for ...which to me, reads like this can be seen as a technical partial victory to allow the legals to get their usual chunk over everyone else.
daviduzbek
27 Dec 2015
Re: case lost so who now has ownership? .....The Uzbeks own the mine, always did, Oxus only ever had a license to mine which the arbitration process determined was forfeited by Oxus due to their non performance of the contract.Which ever way you look at it, Oxus lost; anybody who claims $400mio and gets only $10mio + a bit of interest can only considered this as a loss. There are also the court fees to pay along with lawyers etc....Am I happy it went this way ? No I'm not but in the same respect i am not surprised either.
myepic
26 Dec 2015
case lost so who now has ownership? OK I understand that the case was lost , quite possibly some large scale geo politics behind the scenes had an influence , the great game continues ...what I don't quite understand is who now owns what? As far as I can see neither the Uzbek government nor Oxus now seem to have a clear claim on the mine ?
Gold or Silver
24 Dec 2015
Re: Mr R.Shead fails Uzbekistan's counter-claims have been dismissed in their entirety for lack of jurisdiction. The Tribunal ordered each party to bear its own costs, and to each pay half of the Tribunal's fees and expenses.a. Fair and equitable treatmentAlmost every BIT requires the host state to provide “fair and equitable treatment.”38 The precise scope of this standard of treatment is unclear. At least two tribunals have interpreted the standard literally, simply deciding whether the state’s conduct was “fair and equitable.”39 Some countries have rejected this standard as too high.40 Furthermore, it is unclear whether the standard is uniform across countries or depends on the country’s level of development.41While the precise scope of the standard is unclear, it is possible to identify elements of the standard on which many tribunals have agreed. All tribunals agree that the fair and equitable treatment standard protects against “denial of justice.” A state denying a foreign investor access to the justice system or administering that justice system unfairly can commit a denial of justice.42Some tribunals agree that the fair and equitable treatment obligation protects the investor’s legitimate expectations.43 Tribunals have found that states failed to protect the investor’s legitimate expectations and, therefore, failed to provide fair and equitable treatment by:failing to fulfill representations to the investor that an investment permit would be renewed;44issuing an investment permit for an urban renewal project that was inconsistent with local planning laws45; andreneging on a commitment to sell shares to an investor.46Among those tribunals that agree the fair and equitable treatment standard requires the state to protect the investor’s legitimate expectations, there is little consensus on what, precisely, investors ought legitimately expect .
Pennyfalls
24 Dec 2015
Re: Mr R.Shead fails I agree with indaknow, Gold..You seem a pretty likable fella but have posted some really obtuse messages over the years!Oxus LOST both cases. Both cases were DISMISSED. The cases were for expropriation of assets.The only thing the company got back were tax rebates effectively. But they lost the case as stated. Totally.
Gold or Silver
24 Dec 2015
Re: Mr R.Shead fails The Tribunal awarded the Company USD 10,299,572 in damages with interest of LIBOR + 2% to be compounded annually as of the corresponding years 2004 to 2010 (the "Final Award".
indaknow
24 Dec 2015
Re: Mr R.Shead fails GOSWhen an arbitration dismisses all claims raised by a Company, the Company has lost. How on earth you can suggest that Oxus didn't lose is beyond me.
Gold or Silver
24 Dec 2015
Mr R.Shead fails Every case is different , of course we rely on our BOD to present a good case .Oxus by the way didn`t lose , I am sure the $10 million will be enough for the third party funders to get their money back.As usual , just the shareholders are disrega
GENG
23 Dec 2015
Re: Unbelievable Billhooks!Still its not over till the fat lady sings - maybe an appeal - but very very long shot500k shares thankfully from many trades equates to a £7k loss (could have sold for £15k yesterday) - pretty annoying as this has been a good year. oh well offset against gains for CGT - every cloud has a silver lining!
Nervousrex
23 Dec 2015
Re: Have a good Christmas all and move o... Could take a while for it to sink in with Mrs Rex , mainly because I haven't told her yet . Probably tell her in the new year , around Spring time when the suns out . That way I might survive !Happy new year eh.
