Wow!! BuBs awarded $26.5 million inclusive of legal costs and interests.
I’m sure Bubs team is already working on the next steps.
Here are some of the options they could take. - Formal Demand for Payment- Bubs could issue formal letters of demand to both Alice and Willis seeking immediate payment of the awarded amounts.
- Enforcement of Arbitration AwardsBubs could initiate proceedings in the appropriate Australian courts to have the arbitration awards recognised as enforceable judgments, enabling enforcement actions if payment is not made voluntarily.
- Cross-Jurisdictional EnforcementAs Alice and Willis are subsidiaries of a Hong Kong-listed entity, Bubs could asses options for enforcement of the awards in Hong Kong or Bermuda, if necessary, under applicable international conventions.
- Engagement with Parent Company. Bubs could engage directly with Alpha Professional Holdings Ltd, the parent company of Alice and Willis, to explore negotiated outcomes and voluntary compliance to expedite recovery.
BUB Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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