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Share Price After Award Decision, page-91

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256

02/11/18

03:47

Post #: 36360713
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Very nicely laid out. I have to add that "as promptly as possible" will send shivers down POH shareholders spines. After the last couple of years we've probably worked out that in legal terms, the definition of "promptly" is different than the one most people understand. "-)

If I read the above correctly then there can be no appeals due to points of law or facts.

Does the Tribunal impose a time limit on any award being paid out or can the party having to pay damagaes, delay that in any way?

Originally posted by FullMoonFever: ↑

With the conjecture around the SIAC rules, the following is pertinent if my interpretations are correct - might not be of course.

http://www.siac.org.sg/our-rules/62-our-rules/rules

Appeal on the award:

32.11 Subject to Rule 33 and Schedule 1, by agreeing to arbitration under these Rules, the parties agree that any Award shall be final and binding on the parties from the date it is made, and undertake to carry out the Award immediately and without delay. The parties also irrevocably waive their rights to any form of appeal, review or recourse to any State court or other judicial authority with respect to such Award insofar as such waiver may be validly made.

The Award timing: There are additional rules however these appear most relevant re when the proceedings close, when the draft goes to the Registrar, is returned to the Tribunal and then communicated to the parties. From the last couple of Anns, this would all seem to be happening now imo.

Rule 32: The Award

32.1 The Tribunal shall, as promptly as possible, after consulting with the parties and upon being satisfied that the parties have no further relevant and material evidence to produce or submission to make with respect to the matters to be decided in the Award, declare the proceedings closed. The Tribunal’s declaration that the proceedings are closed shall be communicated to the parties and to the Registrar.

32.2 The Tribunal may, on its own motion or upon application of a party but before any Award is made, re-open the proceedings. The Tribunal's decision that the proceedings are to be re-opened shall be communicated to the parties and to the Registrar. The Tribunal shall close any re-opened proceedings in accordance with Rule 32.1.

32.3 Before making any Award, the Tribunal shall submit such Award in draft form to the Registrar. Unless the Registrar extends the period of time or unless otherwise agreed by the parties, the Tribunal shall submit the draft Award to the Registrar not later than 45 days from the date on which the Tribunal declares the proceedings closed. The Registrar may, as soon as practicable, suggest modifications as to the form of the Award and, without affecting the Tribunal's liberty to decide the dispute, draw the Tribunal’s attention to points of substance. No Award shall be made by the Tribunal until it has been approved by the Registrar as to its form

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POH Price at posting: 2.7¢ Sentiment: Hold Disclosure: Held
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