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Fox Marble upbeat on legal opinion in Kosovo arbitration
30th Sep 2021 13:12
(Sharecast News) - Kosovo and Balkans-focussed marble production company Fox Marble announced on Thursday that, as part of its arbitration proceedings against the Republic of Kosovo, it has received the formal opinion of Samuel Wordsworth QC of Essex Court Chambers.
The AIM-traded firm said Wordsworth had submitted his opinion in respect of the company's €195m claim against Kosovo's claim being advanced by Dentons Europe.
It said his opinion supported the company's claim that the Republic of Kosovo had breached the provisions of the Kosovo Investment Law, and it was his view that an international arbitral tribunal would have jurisdiction to decide the company's claim under that law.
The company said its legal team had now identified Fox Marble's choice of arbitrator of the three that would sit and adjudicate the claim, and would be notifying that choice to the Republic of Kosovo shortly.
"We are pleased to receive Mr Wordsworth QC's opinion in support of our case," said chief executive officer Chris Gilbert.
"Mr Wordsworth QC is one of England's leading silks who has market leading experience in cases involving states, and has a particular expertise in investor-state arbitration cases.
"His strong reputation and impressive achievements, particularly in investor-state arbitration cases, will further strengthen the pursuit of our claim."
At 1045 BST, shares in Fox Marble Holdings were up 4.1% at 1.4p.
The AIM-traded firm said Wordsworth had submitted his opinion in respect of the company's €195m claim against Kosovo's claim being advanced by Dentons Europe.
It said his opinion supported the company's claim that the Republic of Kosovo had breached the provisions of the Kosovo Investment Law, and it was his view that an international arbitral tribunal would have jurisdiction to decide the company's claim under that law.
The company said its legal team had now identified Fox Marble's choice of arbitrator of the three that would sit and adjudicate the claim, and would be notifying that choice to the Republic of Kosovo shortly.
"We are pleased to receive Mr Wordsworth QC's opinion in support of our case," said chief executive officer Chris Gilbert.
"Mr Wordsworth QC is one of England's leading silks who has market leading experience in cases involving states, and has a particular expertise in investor-state arbitration cases.
"His strong reputation and impressive achievements, particularly in investor-state arbitration cases, will further strengthen the pursuit of our claim."
At 1045 BST, shares in Fox Marble Holdings were up 4.1% at 1.4p.