no_bear seems to be very quiet recently. I'm still waiting for his promised explanation of how the ICSID arbitration works.

Vet, I've been busy with much more interesting and lucrative pursuits, not much time to watch this paint dry and not much to add to the current comments.

I don't recall promising to teach you ICSID 101 as that would take way too much time, but I am happy to answer specific questions.

GRZ has done a great job in expediting their action, much of that is due to (1) a good no nonsense panel, (2) and the emphasis to streamline and accelerate the process by hearing many of the old delaying procedural motions at the time of the substatntive hearing.

One reason that I haven't discussed the KRY case is that we need financing or there is no arbitration, indeed some cash is needed in the next month and I don't really think that using a line of credit to pay a semi-annual interest payment excites me much about the prospect of paying off the bonds in December.

One thing that I have done recently with some KRY to lower my effective basis is to roll 750k shares from retirement accounts that have a taxable payout to a ROTH IRA since the price was below a dime. Thus, if it does recover, all future money withdrawn will be tax free. The transfer will generate a small amount of tax this year, but the nice part is that it can be undone by October 15, 2012 and I can get a refund of that tax through an amended 2011 filing if KRY doesn't work out. Something to consider for those in KRY with US retirement accounts.