AVZ Discussion 2022

[Flight996]

Re: DIG Oil (DIG)versus the DRC

This issue is not so different from the DRC's breach of the Dathcom Agreement, lack of due process, failure to follow the mining code, corruptly employing friendly judiciary the prosecute AVZ, making and presenting forged documents, and arbitrary expropriation (without compensation) of AVZ's interests in Manono.

For those interested, here's the timeline of the key events in DIG's ICC arbitration with the DRC government, commencing in 2007 with DIG’s agreement with the DRC government:

• 2007 (Dec): DIG signs a Production Sharing Agreement (PSA) with DRC for exploratory blocks in the DRC,
• 2008 (Jan): DIG signs another PSA with DRC,
• 2010: DRC awards a production sharing agreement to another company, violating the 2008 contract with DIG,
• 2016 (Oct): DIG initiates arbitration proceedings against DRC,
• 2018 (Nov): The International Chamber of Commerce arbitration tribunal rules in favor of DIG, awarding $619 million in damages,
• 2019 (Apr): DRC appeals the arbitral award to the Paris Court of Appeal,
• 2020 (Jan): The Paris Court of Appeal dismisses DRC's appeal, upholding the arbitration award,
• 2020 (Apr): DIG initiates proceedings in the U.S. District Court for the District of Columbia to confirm the arbitral award,
• 2021 (Apr): DRC offers to settle for approx $300 million in cash and new oil and mining permits, which it subsequently reneged on,
• 2021 (Sept): The U.S. District Court enters a default judgment against DRC, confirming the arbitral award. The DRC did not bother to contest or even send a representative,
• 2024 (Dec): Reports emerge of a secret $150 million deal between DRC and DIG.
  
  Anyone taking bets on whether the DRC will renege on this too. After-all, it's in their DNA and they've got form.
  
  
  

  District court enters default judgment against a foreign sovereign thereby confirming the arbitral award against them

  The court considered that none of the grounds for refusing the confirmation and enforcement of an arbitral award under Article V(2) of the New York Convention applied. It then confirmed the arbitral award and entered a corresponding judgment against against a foreign sovereign.

  www.globalarbitrationnews.com

Cheers
F

 

[Mute22]

Re: DIG Oil (DIG)versus the DRC

This issue is not so different from the DRC's breach of the Dathcom Agreement, lack of due process, failure to follow the mining code, corruptly employing friendly judiciary the prosecute AVZ, making and presenting forged documents, and arbitrary expropriation (without compensation) of AVZ's interests in Manono.

For those interested, here's the timeline of the key events in DIG's ICC arbitration with the DRC government, commencing in 2007 with DIG’s agreement with the DRC government:

• 2007 (Dec): DIG signs a Production Sharing Agreement (PSA) with DRC for exploratory blocks in the DRC,
• 2008 (Jan): DIG signs another PSA with DRC,
• 2010: DRC awards a production sharing agreement to another company, violating the 2008 contract with DIG,
• 2016 (Oct): DIG initiates arbitration proceedings against DRC,
• 2018 (Nov): The International Chamber of Commerce arbitration tribunal rules in favor of DIG, awarding $619 million in damages,
• 2019 (April): DRC appeals the arbitral award to the Paris Court of Appeal,
• 2020 (Jan): The Paris Court of Appeal dismisses DRC's appeal, upholding the arbitration award,
• 2020 (Apr): DIG initiates proceedings in the U.S. District Court for the District of Columbia to confirm the arbitral award,
• 2021 (Apr): DRC offers to settle for approx $300 million in cash and new oil and mining permits, which it subsequently reneged on,
• 2021 (Sept): The U.S. District Court enters a default judgment against DRC, confirming the arbitral award. The DRC did not bother to contest or even send a representative,
• 2024 (Dec): Reports emerge of a secret $150 million deal between DRC and DIG.
  
  Anyone taking bets on whether the DRC will renege on this too. After-all, it's in their DNA and they've got form.
  
  
  

  District court enters default judgment against a foreign sovereign thereby confirming the arbitral award against them

  The court considered that none of the grounds for refusing the confirmation and enforcement of an arbitral award under Article V(2) of the New York Convention applied. It then confirmed the arbitral award and entered a corresponding judgment against against a foreign sovereign.

  www.globalarbitrationnews.com

Cheers
F

So only 8 years for a chance at a rumor of partial payment? Cool.

 

[Remark]

So only 8 years for a chance at a rumor of partial payment? Cool.

Yay!

 

[Flight996]

So only 8 years for a chance at a rumor of partial payment? Cool.

From $US619 million ICC award down to a negotiated $US300 million cash settlement (which they reneged on) then down to a rumored $US150 million settlement.

I'll take bets the inbred fuckers don't try to renege on that too.

 

[Mute22]

Yay!

We are so fucked. And nobody give me the 'But they want to get this to mine as soon as possible!' rhetoric.

These are not logical people we are dealing with, I think they would rather their people suffer just to spite us for not providing snacks.

 

[wombat74]

View attachment 74772

Are they forgetting the DRC Government (in particular the MoM) has requested the ICSID resolve this issue .They are on record . Also we are not talking about some half baked oil resource that has ZERO significance on the World Markets . The Dig Oil case is less than Chicken Feed compared with AVZ's . Very important is we expose and drag C--t Celestine kibeya and his Mates to the ICSID . That Filthy low life C--t CELESTINE KIBEYA !! IMO

 

[Pokok]

Are they forgetting the DRC Government (in particular the MoM) has requested the ICSID resolve this issue .They are on record . Also we are not talking about some half baked oil resource that has ZERO significance on the World Markets . The Dig Oil case is less than Chicken Feed compared with AVZ's . Very important is we expose and drag C--t Celestine kibeya and his Mates to the ICSID . That Filthy low life C--t CELESTINE KIBEYA !! IMO

Wombat I would like to agree with you but I just don't trust the DRC nor do I trust the Chinese they are both a greedy bunch of pr85ks and will come up with more shit to hold up proceedings but happy to be corrected if I am wrong

 

[pow4ade]

Are they forgetting the DRC Government (in particular the MoM) has requested the ICSID resolve this issue .They are on record .

pssst...it's a lie, otherwise they would pay their own fees.

 

[wombat74]

pssst...it's a lie, otherwise they would pay their own fees.

Doesn't matter . They have acknowledged the ICSID decides . It's on record and they are a signatory to the ICC/ICSID . Look, if the DRC want to go 100% Communist China and become a Chinese state then that is their choice . But f--k off with the first class travel telling the World the DRC Gov are not a bunch of Corrupt Criminals C--ts IMO.

 

[wombat74]

Wombat I would like to agree with you but I just don't trust the DRC nor do I trust the Chinese they are both a greedy bunch of pr85ks and will come up with more shit to hold up proceedings but happy to be corrected if I am wrong

No mate you have every right to believe AVZ is F--ked but be happy if you are wrong . There are others like yourself out there that think AVZ is F--ked and hope they are wrong .How's Indo this time of year ?

 

[lellep]

No mate you have every right to believe AVZ is F--ked but be happy if you are wrong . There are others like yourself out there that think AVZ is F--ked and hope they are wrong .How's Indo this time of year ?

From $US619 million ICC award down to a negotiated $US300 million cash settlement (which they reneged on) then down to a rumored $US150 million settlement.

I'll take bets the inbred fuckers don't try to renege on that too.

1. Dig Oil was valued at US$600million, AVZ is valued at billions, far more with a resource uncomparable to anything else on the market.

2. Dig oil had OIL, which at the time was a resource with a global demand on the decline, AVZ has LITHIUM which is on high demand with a price expected to triple before 2030 according to experts (read Morningstar, Morgan Stanley e.tc.

3. Dig oil started their Arbitration approximately 6 years after they ran into issues. AVZ started it far earlier.

4. Dig Oil’s PR (Exploration permit) was REVOKED. AVZ’s PE (Exploitation permit) was CANCELLED.

In conclusion, don’t be too quick to make assumptions based on Dig Oil as their situation in relation to value and resource gave them a different bargaining position than us. Contrary to what some posters here believe, I strongly believe the DRC still want this mined as they are a nation in dire need of cash. Who is going to mine it is a different question. It is in their own interest to see this through smoothly or they will lose HARD.
Also the DRC penalty tracker has now reached over €50 million (€50k/day)

 

[Pokok]

No mate you have every right to believe AVZ is F--ked but be happy if you are wrong . There are others like yourself out there that think AVZ is F--ked and hope they are wrong .How's Indo this time of year ?

Wet mate but still hot as

 

[BRICK]

Wet mate but still hot as

like its women......

 

[cruiser51]

Why don't they meet in Kinshasa with Felix and tell him to his face?

 

[Dazmac66]

Moise Katumbi could well be a conduit for our efforts to highlight the DRC and Zijin filthy corruption. That is assuming he will turn down the inevitable brown bags that would suddenly appear on cue.

 

[Winenut]

Moise Katumbi could well be a conduit for our efforts to highlight the DRC and Zijin filthy corruption. That is assuming he will turn down the inevitable brown bags that would suddenly appear on cue.

I imagine it takes people of exceptional character to refuse brown paper bags and place the good of the DRC and the interests of the broader community ahead of their own financial gain

So many don't there......and the same applies here on all sorts of levels both large and small

 

[lellep]

China Helpless Against a Gang Stealing Its Gold on the Other Side of the World

In Colombia, a drug cartel seized a Chinese gold mine, overwhelming security. Illegal miners exploit the lucrative operation.

m.jpost.com

 

[Bin59]

x.com

x.com

 

[ptlas]

Moise Katumbi could well be a conduit for our efforts to highlight the DRC and Zijin filthy corruption. That is assuming he will turn down the inevitable brown bags that would suddenly appear on cue.

Maybe the level of noise he produces now is directly proportional to the size of his brown paper bags.
I've thought that before about others.