Cloudified Share Discussion Threads

[fregate] 17/4/2019 07:43

Thanks. Best wishes

[jack1236] 17/4/2019 07:24

fregate that's correct, but if Churchill's site gets taken down then the Admin's will have a webpage you can access with updates.

[fregate] 17/4/2019 07:16

On the NEX site it states withdrawn. Where would you expect to see the RNS? May be just a notice on Churchill’s web site but nothing yet...

[wulber] 17/4/2019 07:01

No RNS yet

[andy] 16/4/2019 21:53

nico115,


I tend to agree, it will be interesting to see if they plan to try and fight on, and if so where, and how will they fund it?


ICSID would be a non starter and a total waste of time and money.

[nico115] 16/4/2019 21:34

No way ,it's over And if it's not we will get nothing anyway Can't believe anyone would think we have any hope of getting even 1 pound back here for our total holding

[wulber] 16/4/2019 19:16

Hope so Andy

[andy] 16/4/2019 19:11

Daddy,


Yes bad news is traditionally leaked out late in the afternoon, but there's no need for that here, we have already had the terribly bad news.


All we are waiting for is the confirmation whether they are going to fight on in another court, or pack up and concede defeat as they can't finance another case.


If they do continue I hope they give some details of how they are going to finance a new case.


I suspect they will fight on personally.

[daddy warbucks] 16/4/2019 18:06

If it's bad news it will be Thursday afternoon about 4.15pm.

[wulber] 16/4/2019 16:11

Maybe news tomorrow then.

[jnbrw] 16/4/2019 11:43

Took millions in lease, development and licence fees, registered in title books, multiple logs and registers, but roi said our right to mine didn't exist and forged - when they changed tack and concocted the forgery story half way through the arbitration process - absolutely laughable.

[andy] 16/4/2019 11:31

frrinvest,


You too, this was daylight robbery, but when the state do it it's ok apparently, at least according to ICSID.


There should be an announcement in the next few days, so worth waiting for that, although probably prudent to mentally write off one's investment at this point, IMO.

[bobic] 16/4/2019 08:18

Don't count weekend so tomorrow, most likely.

[jamesss1] 15/4/2019 22:36

7 days has been...we are done.

[frrinvest] 15/4/2019 13:39

Extremely disappointed with the outcome. Lost money due to technicalities, feel like a day light robbery. Will never trust Indonesia again. Will get over this eventually and hope to recover my good money from another investment or two. I hope the same for you guys. Good luck.

[andy] 15/4/2019 09:12

jack,


Agreed.

[jack1236] 15/4/2019 08:28

Andy

Indonesia threaten to quit the ICSID; what's the best way to keep them in and onside?; give them a win. From memory I don't think they have won one before (might be wrong on that). There was no incentive for them to stay. They use the cloak of the Amendments to go thank her personally; probably bearing gifts.

They are 'as happy as Larry' now.

[andy] 15/4/2019 08:14

Jack,


So it's OK to illegally confiscate another company's property, but not OK for that company to be able to appeal the fact then?


Bit of double standards there, they should be grateful they have all of our coal, plus he investment required to find said coal, and yet they complain about a pittance in costs it took to fend off the legal challenge that now enables them to mine it.

[jack1236] 15/4/2019 07:54

JAKARTA, REQnews - Delegation of the Government of the Republic of Indonesia gave several official statement points to the International Center for Settlement of Investment Disputes (ICSID) in the process of drafting the ICSID Rules Amendment.

Director General of General Legal Administration (Director General of AHU) of the Ministry of Law and Human Rights (Kemenkumham), Cahyo Rahadian Muzhar said the five important points were conveyed by the Indonesian Delegation to the Secretary-General of ICSID, Meg Kinnear, namely Notice of Third-Party Funding Written Submission, Bifurcation and Security for Costs.

"The five points are an important focus of the Indonesian Government to ICSID. This was immediately conveyed by the Indonesian Delegation at the ICSID Technical Meeting Forum ," Cahyo said on Friday (04/12/2019) as quoted from the official website of the AHU director general.

Last April 10, 2019, Cahyo also met with Secretary-General ICSID, Meg Kinnear to deliver two crucial concerns for Indonesia in amending the ICSID Rules, namely Third Party Funding and Security For Cost .

"These are two things that must be interrelated, where in Third Party Funding disclosure must also be a factor in imposing Security For Costs," he said.

Cahyo added that what the Indonesian Delegation went directly to ICSID was the direct experience of the Indonesian Government as a respondent state in the arbitration lawsuit of Churchill Mining Plc Ltd and Planet Mining Pty Ltd at ICSID.

"The Secretary-General of ICSID expressed his appreciation to member countries including Indonesia, and stakeholders who have been active in giving written comments in the process of drafting the ICSID Amendment Rules ," he said.

Previously, the Government of Indonesia won an absolute victory over mining company Churchill Mining Plc and Planet Mining Pty Ltd in an ICSID arbitration lawsuit. The government fight with two large companies from England and Australia has indeed been a long time since 2014.

This victory made Indonesia escape the value of the lawsuit amounting to US $ 1.8 billion or around Rp. 18 trillion which was submitted by Churchill Mining and Planet Mining. Not only that, the decision of the Indonesian government also received award alias compensation of legal costs of the case amounted to US $ 9.4 million or equivalent to Rp 140 billion.

The technical meeting of the two ICSID Rules Amendments was held in Washington, DC, on 7 to 9 April 2019. The Indonesian delegation was represented by representatives of the Ministry of Law and Human Rights led by the Director General of the Ministry of Law and Human Rights AHU. The meeting was attended by 67 ICSID member countries and chaired by Secretary-General ICSID. (*)

[bdog51] 14/4/2019 18:11

RNS on 8th April stated that Clifford Chance are currently reviewing the Annulment Committee's decision and the Company will provide an update on this review within the next 7 days.Hence an update tomorrow seems perfectly possible/ likely. Or sometime next week anyway.

[nico115] 14/4/2019 17:02

This week?You're crazy wulber Have you not read the last couple of RNS?Are you still in denial ?Wow

[andy] 14/4/2019 16:00

wulber,


Agreed, let's hope they will announce something positive.

[wulber] 14/4/2019 15:34

I guess this is the week that decides our fate.Fingers crossed for all shareholders!

[andy] 13/4/2019 20:04

Neo,

Exactly, the US is the bully of the planet, the ICC should never have caved in under intimidation like they have done, IMO.


Everyone else is expected to play by the rules.