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Davy Boy

16,036 Posts.

3649

05/06/18

20:23

Post #: 33514210
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Originally posted by silsol ↑

It is not under Senegalese law.

Arbitration under the ICC Arbitration Rules is a formal procedure leading to a binding decision from a neutral arbitral tribunal, susceptible to enforcement pursuant to both domestic arbitration laws and international treaties such as the 1958 New York Convention. Mediation under the ICC Mediation Rules is a flexible procedure aimed at achieving a negotiated settlement with the help of a neutral facilitator.

IMO, the issue is whether the PE rights were triggered by the sale of ConocoPhillips Senegal B.V. from COP to WPL. There was a change in control and under Australian law, PE rights would be considered to be triggered upon a proper construction of the relevant clauses under the JOA and other agreements. There is a strong precedence cited in many cases about PE rights and I think that the ICC will be strongly influenced by these cases.

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Sorry you are not correct the Senegal PSC sets out clearly the term of any arbitration in Senegal. DB
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