Mr. Don O'Sullivan reports
PACIFIC WILDCAT ANNOUNCES ICSID ARBITRATION UPDATE
Pacific Wildcat Resources Corp. has provided an update on the arbitration against the Republic of Kenya at the International Centre for Settlement of Investment Disputes (ICSID), commenced by Pacific Wildcat's subsidiaries, Cortec Pty. Ltd., Stirling Capital Ltd. and Cortec Mining Kenya (ICSID case No. ARB/15/29).
The company refers to the two previous announcements on the ICSID matter dated Nov. 16, 2015, and April 1, 2016.
The ICSID Tribunal hearing between the parties commenced on Monday, Jan. 15, 2018, and concluded on Friday, Jan. 26, 2018.
The ICSID Tribunal informed the company on Sept. 27, 2018, that it "has completed the drafting of its ruling. The draft is currently being reviewed, and the tribunal is confident that it will be in a position to issue it in the next two weeks."
Note that the forthcoming ruling is limited to the jurisdiction and liability of the matter and in the event that the company receives a positive outcome, then a further hearing and ruling on Quantum will be necessary.
The company will update shareholders further as soon as possible after the tribunal ruling is received. Information on the procedural details of the company's claim against the government of Kenya and other related materials can be found at the ICSID arbitration website. |
