One of the matters Galeo referred to the SIAC for determination was compliance with the Nationality Rules: it was litigated extensively at the SIAC, with the Final Award rejecting Galeo's complaints and holding that Mt. Labo and its directors had not breached Philippine Law, including RTG representatives.
We understand Galeo has again sought to pursue this matter in the Philippines Courts, notwithstanding the SIAC Final Award finding against them.
Counsel's advice is that there is no proper or lawful basis for the allegations.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2
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