by it's letter dated 31 December 2021?
clutching.....
give us the answer
must be a typo right, meaning 2020? Otherwise doesn't fit
Anyway Carlos can you tell us why Cong's argument was flawed? As reading this document hurt my brain a litle.
Apart from already having agreed to the price and had deposits paid. Something to do with the 'regular extraordinary meeting'? Which as an aside seems a condradiction in terms. Or that the assignor can at any time cancel the assignation of shares? That seems to go against the contract terms.
No one outside of the parties involved has seen the SPA's. The only clues we have are from this court record and AVZ's official announcements. Both of those sources agree that completion of the transactions occurs when payment hits da bank. Cong cites Article 2.1 of the SPA's for this fact. This event occurred on or about 13/8/21 according to AVZ and on 16/8/21 according to Dathomir which is backed up by the bank statement.
The only thing that could have stopped it was a domestic stay of payment but the writ for that was served to AVZ on 28/8/21 which is after completion occurred according to Cong's timeline of events
As for the need for a Dathcom EGM this was not a condition precedent of the SPA's according to AVZ. Cong says it 'should' have happened because it occurred in previous transfers but he doesn't cite anything from the agreements when claiming this.
Without going into the long boring details of OHADA the article that Cong cites about waiving the sale is about negotiations using an expert to value the shares in an absence of agreements. The judge was never asked to rule on the merits of his arguments about termination and repeatedly recognises the need for this matter to be heard by an arbitral judge. The ICC taking on these cases indicates to me that they are the ones named in the SPA's for dispute resolution just like in the Dathcom JVA and they have agreed with AVZ on everything so far.
Obviously I would need to read the SPA's to know for sure if Cong has grounds for termination or renegotiation but the fact that both parties have acknowledged that completion occurs on payment, Cong couldn't back up his EGM claim from the agreements themselves and the ICC are hearing the cases and resticting Dathomir's actions within the DRC is enough for me. And DLA Piper too obvs