frankly i believe the solution to the issues is simplicity itself
register british virgin island company
issue one share to each claimant nation
allow one board seat to each claimant state
value of company is now at cost of registering the bvi company, ~2k usd
all claimants sign agreement to inject its claim into the bvi company
so that the islands now belong to the bvi company
valuation perhaps 50 mil, equal shares
draw up development plans (oil, gas, fishing, bird cr@p fertilizer, water and wind rights, and perhaps some resort development and retirement home lots, as well as air landing and boat docking concessions)
based on conservative estimates and using 25% internal discount rate
establish npv value at whatever the math says (~10 billion usd?)
offer prospective investors 20x return prospect and issue shares at ~500 mil usd for 80% of the company (20% free carry to the group of states)
any claimant states can invest pro rata for equal share
any unwanted shares can be offered again to states that signed on during previous round
bank syndicate can be tee-ed up to syndicate the development loan at 2:1 debt to equity
now the bvi company has 500m equity, 1 bil debt, and everything to do with the islands
now, from master plan develop biz plan, complete w/ feasibility studies and and and
ipo
source rigs and infrastructure buildout
vendor financing
build-operate-transfer
do do do
arrange for off-take of outputs
etc etc etc
all done
however, china had offered joint development to philippines and vietnam over some stretch, and believe at instigation of team usa, philippines scuttled the deal even as it had engaged earlier on
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