Rockhopper (RKH) is due c. £200m cash right now from the Italian government and, on Thursday, was able to announce that the arbitrators (ICSID) want the Italians to put this money in a bank which is acceptable to Rockhopper as well whilst the expensive and tiresome squabbling continues. Malcolm Graham-Wood thinks the settlement in RKH’s favour may now be early in 2024. Although why the Italians should drift along compelling such a delay is not obvious.
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In recent weeks I have had the pleasure of treating the many different representatives of Virgin Group Media to a rising torrent of abuse. I thought I was alone in dwelling on the memory of Beardy Branson, whom I first encountered on his houseboat in Little Venice getting on for forty years ago when I was, albeit briefly, a director of Virgin Atlantic Airways. I decided that he is extraordinarily dishonest.
For VGM want money from me which I do not owe. I therefore find it tiresome that the spirit of Beardy lives on. However, I am not alone since I now see that regulators are looking into VGM’s conduct when chasing alleged debtors. I am very far from alone. I shall miss my opportunities to swear at a VGM employee.