Thanks for the info @longing. Not to say these things always go the same way but as a reference point the timeline was:
- March 2013, ..the dispute to be determined by an arbitrator in Singapore .. and payment of the $80 million into an escrow account
- June 2013 ..arbitration in Singapore and in a hearing was held by the Arbitrator
- November 2013, the Arbitrator ordered that MCC pay the disputed amount into an interest bearing escrow account in the joint names of the company and MCC
- April 2014, the Arbitrator ordered that, despite an application received by MCC to defer, the substantive dispute will be heard in Singapore commencing in July 2014.
- July 2014, Cape Lambert announces that they have reached a settlement with MCC where they get $51.6m of the $80m
Cheers
pb
Ann: Trading Halt, page-42
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