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clock Created with Sketch. 31/05/17
02:40
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Originally posted by squire
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Davy boy. There has been acknowledgement in this thread that states in some Senegal legislation that if the govt remains silent on any deals within 90 days it's deemed as approval. That's fact, even reputable journals, people in the industry have stated this.
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Sorry i have to disagree, the 90 approval period cannot start if the original transaction is still in dispute as per the JV agreement. So no approval has been given IMHO. Secondly i am not at all surprised that the govt did not make a decision, it was a fools errand from the start, no matter what decision they made they risked costly legal action from the party that lost. Arbitration was always the only possible outcome. At least now the Govt have moved out of the way so the process can move forward.
(20min delay)