It is an important point DB,
COP confirmed to FAR that they had a right over the RSSD JV interests.
FAR are relying on the "transfer of asset" clause that JV partners should have the same terms and conditions as the purchaser of JV assets that are transferred from one holding company to another holding company. If FAR are right COP notice did not comply.
COP are relying on the "change of control" saying that the holding company did not transfer its assets and remained in the JV. If COP are right then their notice was fine and FAR asked for info they did not require to purchase the WI at the price indicated.
Both scenarios trigger a PE event but the information in the PE notice required in each case is different. At least it was assumed to be different by COP Senegal BV.
The tribunal will make the call and if the paradigm shifts in FAR interpretation direction then parties will negotiate a settlement or further arbitration will follow seeking award I suggest.
It is an important point DB, COP confirmed to FAR that they had...
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