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St Lucia is set to face another round of litigation in a case being brought by Jack Grynberg’s RSM Corporation over an oil exploration agreement.

This has been confirmed by the Senior Communications Officer in the Prime Minister’s Office, Nicole Mc Donald who noted that while the International Centre for Settlement of Investment Disputes (ICSID) had thrown out the case, Jack Grynberg is filing an appeal.

The case began in 2000 when the St. Lucia Labour Party Government, headed by Dr. Kenny Anthony signed an Agreement with Grynberg giving him an exclusive oil exploration license in an area off the coast of St. Lucia, initially for a four year period.

St. Lucia’s request for security for cost in a case brought against it by Jack Grynberg was upheld by the ICSID, but Grynberg failed to honour the decision.
Grynberg insists that St. Lucia terminated the Agreement and called on the ICSID to order St. Lucia to pay damages in the amount of at least $200 million and to grant an award declaring that the Agreement was still in force.

St. Lucia had requested the security for costs in the event that the tribunal gives an award in its favour for reimbursement of costs to ensure that Grynberg pays up, since his records show that in other ICSID cases, he did not meet the costs ordered against him.
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