posted on
Sep 06, 2013 10:55AM
I agree that the ConocoPhillips case is much more complex, especially on the question of quantum of damages. There were changes to the VZ tax/royalty regime (which the panel ruled cannot be factored into damages) and there was a formula in the investment agreement for determining (and capping) CP's damages upon nationalisation (which may or may not be relevant). Hopefully, the issue of quantum will be addressed in the main GRZ and KRY rulings but, in the absence of agreement between the litigants, it is actually the tribunal that decides whether the quantum determination should be split out. Fingers crossed...