Senegal’s only interest was to continue uninterrupted down the road to development. In the absence of any other takers WPL were accepted as participating towards that objective. FAR cried fowl and the parties were told to sort it out amicably. That didn’t happen so we are now entering the end game to the arbitration process.
Post hearing submissions by the end of September are vital, it’s where each party is given the last chance to present a final summary in defence of their case.
After that the arbitrators will begin a 3 month review period to agree and hand down the result of their deliberations.
After this month the only alternative the parties have is to wait for the final verdict or put a stop to proceedings by agreeing an out of court settlement.
At this point in time the only way WPL can guarantee future ownership is to agree an out of court settlement. After the final submissions how confident the parties are will dictate how long we need to wait for a resolution and that could be sooner than we all think.
AIMHO
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