Many have been concerned about the legal issues raised by MMCS regarding the validity of PR13359 and how an adverse decision by DRC SCJ about validity might affect AVZ. The announcement yesterday gives us the information we were looking for to settle those concerns.
The punters have been uncertain about two things…
Firstly, is it possible that the joint venture agreement can be legally frustrated by a declaration of invalidity of PR13359
Answer: No. Our DRC legal team has confirmed that according to rule of law in DRC, PR13359 is valid and enforceable, even in the very unlikely event that the DRC appeal is successful. Compensation is the only remedy available if MMCS wins the appeal.
Secondly, is it possible that AVZ will have to pay compensation if DRC appeal is upheld
Answer: No. AVZ is not a party to the DRC administrative appeal. Even if the appeal is successful, it is the respondent that is ordered to pay the applicant compensation. AVZ is not the respondent.
Now that we know AVZ has a valid and enforceable joint venture agreement and is not at risk of an order to pay compensation even if DRC appeal is successful, what stands in our way.
Answer: Nothing
Many have been concerned about the legal issues raised by MMCS...
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