I thought the first ICC court case is about the illegal sale of 15% to Jin chen, where Jin Chen wishes access to the Dathcom board. However making that 15% null and void due its illegality, it has to be returned back to COMINIERE. The arbitration was called for by Zijin/Jin Chen and cannot be cancelled by AVZ.
The odd thing is that Zijin has developed cold feet and has asked for several delays.
On top of that together with Cominiere they are accusing AVZ of holding up the project and they have AVZ presented with a substantial damages bill. We will come back to this later....
How Cominiere/Zijin deals with the financial aspect, is of no concern to Dathcom/AVZ.
The northern section of 13359 cannot be given by Cominiere to Zijin as a sweetener, because Cominiere is simply not the owner of that lease, but Dathcom is and Zijin is a 25% part owner
The moves by Cominiere and Zijin are countrary to the Dathcom JV and have to be presided over by 3 ICC judges, as per Dathcom JV Contract, not 1 ICC judge as by Jin Chen request.
(They probably never read the Dathcom JV contract, however it is publicly available on the Cominiere website, for all to see, even for Zijin. Not only that Zijin could have made themself up to speed what the Dathcom JV says on the right of first refusal)
The outcome of the case will simply be that Cominiere did not act in good faith and did not adhere to the rules laid down in the Dathcom JV, regarding first right of refusal.
Even today Cominiere never presented AVZ with the offer Zijin made to Cominiere, an inherent part of the first right of refusal.
The 15% sale was illegal and therefore null and void, with the result that the 15% simply has to be turned back to COMINIERE and the rules of First Refusal has to be properly followed, as per Dathcom JV Agreement.
This can't be all that difficult.
However CKK believes he can make a simple statement, that he is now the owner of 13359 and he can do as he pleases. However sadly for him, that kite will not fly.
He made the claim public in an interview on Tele50 with Jean Marie K, that it has always been his intention to take control back over the 13359 lease.
Getting back to the Zijin/Cominiere damages claim for AVZ holding up the project.
It is not AVZ which is holding up the project, but actually Zijin/Jin Chen.
As part of this case, Jin Chen a company not even part of the Dathcom JV in concert with Cominiere have been holding the project up and as such AVZ/Dathcom would have the right to counter damages claim
Again the damages claim was not called for by AVZ/Dathcom, but by Cominiere/Zijin/Jin Chen.
This claim can also not cancelled by AVZ/Dathcom.
I am dumbfounded by all the silly statements of Cominiere that AVZ should drop the court cases before negotiations can restart.
There is one court case pending before the ICC brought by AVZ, that is AVZ vs Dathomir regarding the 15% sale of Dathcom from Dathomir to AVZ. A sale for which AVZ paid, but after the massive increase in the lithium prices worldwide Dathomir now wishes to cancel and does not recognise the sales contract they signed.
This is the only ICC court case AVZ could drop and sure as hell they will not!
