There are few meritorious billion dollar ICSID claims floating around, and all of the major funders are well capitalized and under constant pressure to find new investments.
If AVZ's claim was meritorious and had the potential for significant damages to be awarded, wouldn't top-tier funders like Burford, Therium, Harbor, Parabellum and Fortress be banging on AVZ's door and competing to fund their claim?
And wouldn't AVZ welcome those top-tier funders with open arms given their significant experience in funding ICSID claims.
The sobering reality is AVZ is dealing with Locke Capital, a funder that none of the top-tier funders of international arbitration claims have heard of.
The "thinking" shareholders will consider Nigel's agenda. If he knows the ICSID claim has low prospects of success, and he he ought to given the absence of top-tier funders submitting term sheets, why would Nigel continue to rally behind the ICSID strategy?
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