CJR,

I think the actual 'trial' itself, is pretty standard in terms of timing, etc.

But as your Vanessa example illustrates, there can be roadblocks. In Vanessa's case, it seems like every time they lose a tribunal member, the clock almost starts over again. I agree Vanessa's case is an extreme example at 7+ years. But I think its more an outlier when considering the average, as you said, is 3.5 years. A lot of it is politics too, maybe tribunal members in Vanessa's case tend to 'drop out' because of the entire nature of the case. Maybe they're reluctant to be associated with such a case? Its not as cut and dry as a cancelled contract, but thats just my opinion.

On the subject of lost profits, I tend to agree with you. History shows we'll get rewarded handsomely in terms of interest, currency, extra expenses, etc on top of our costs. However, realistically, there is some argument that Hugo is taking advantage of the system. And I'm sure arbitration judges can see the same things as everyone else., with Venezuela and other South American dictators exproriating everything in sight. So, we may see a new chapter starting to emerge in terms of ICSID awards. I think the awards given to the Big Oil companies and GRZ will tell us what we can expect.

Cheers and Happy New Years all,

FK.