PhosCo Ltd (AU:PHO) has released an update.
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PhosCo Ltd is aggressively pursuing legal actions to enforce a 2017 Arbitral Award against TMS, which owes the company A$6.3 million in damages and costs. Despite holding a 51% interest in Chaketma Phosphate SA and gaining control of the project, PhosCo faces challenges in realizing the awarded damages due to TMS’s non-compliance and capacity to pay. The company is determined to use all necessary means to execute the award, amidst ongoing legal disputes in Tunisian courts.
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