Ann: UPDATE ON ARTEMIC PHASE II TRIAL ON COVID-19 PATIENTS, page-58

2 Years (almost) is a significant time span for any legal action.

In fairness, we can consider the time period between this announcement and the move to arbitration, but that still means one and a half years. A long time considering that this was a relatively simple breach of contract case.

Both parties agreed to have the case heard in the UK arbitration court so there would be no complications with Korean law as an arbitration hearing allows no appeals and the courts ruling is final.

The lack of any material updates is extremely worrying.
1) The case should have decided by now.
2) A victory by MXC should have announced to Share holders and the cash award should have shown up in the accounts for MXC.
3) A loss should have announced to shareholders and costs to MXC should have also appeared in the accounts for MXC.
4) A peculiar thing is that these cases are not cheap - I can't recall any mention of the legal costs appearing in the expenses of MXC's accounts. If the case is on-going. we would expect those expenses to be relayed to shareholders as a material operating expense.
5) Finally, If the case has been abandoned, won or lost, MXC is obliged to keep the market informed. If that has not happened, then MXC is certainly in breach of share market rules.

The whole episode is looking very odd.