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When Nigeria builds a track record as a trusted counter party, the need for guarantees will be obviated. As privatisation is new, many developers and most financial institutions will require sovereign guarantees or another instrument that will provide adequate security.
Nigeria is not prepared to issue sovereign guarantees and they are developing other ways of satisfying lenders, such as the inclusion of put and call options in PPAs.
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Fortunately for Malawi, the courts have proven their worth by ruling on the corruption cases put before them. Chakwera has gone further, addressing governance and regulatory issues that have kept investor confidence at bay since independence.
A recent geological survey has revealed that this is possible — and Malawi is far richer in mineral resources than previously thought along with significant deposits of uranium, bauxite, iron ore, alluvial gold, coal, graphite, gemstones and rare earth metals.
In response to this ailing industry, the Chakwera administration has swiftly established a Ministry of Mines — a government body that did not previously exist in Malawi — as an important first step to boost investment and combat illegal mining.
All current licences today are being reviewed and those that are inactive are being cancelled. How Africa can navigate the pandemic. Leaders of all stripes are scrambling to contain the fallout.
Get your free PDF by completing the following form. Accordingly, the Court ordered Mr. Wilson to pay the reasonable attorney's fees and costs Symbion incurred in bringing their motion for a protective order, the motion for sanctions, and in complying with the Court's order.
The Court further ordered Symbion's attorneys to file an application for fees including an affidavit that described their reasonable attorney's fees and costs.
The Court now addresses that application. The Court may award attorney's fees and costs based on its inherent authority to punish a litigant for misconduct and abuse of the judicial process.
See Farmer v. Banco Popular of N. Sanctions may include payment of the other party's reasonable expenses incurred because of having to file a motion for sanctions, including attorney's fees.
White v. GMC , F. Nevertheless, "[w]here a court sanctions a recalcitrant party for his abuse of process by an award of fees and costs," the Court must use sound principles to govern its award of fees and costs.
See Farmer , F. First, the amount of fees and costs awarded must be reasonable. Second, the award must be the minimum amount reasonably necessary to deter the undesirable behavior.
And third, because the principal purpose of punitive sanctions is deterrence, the offender's ability to pay must be considered.
Depending on the circumstances, the court may consider other factors as well, including the extent to which bad faith, if any, contributed to the abusive conduct.
There are two elements to the reasonableness inquiry: first, whether the attorney has exercised billing judgment and deleted excessive, unnecessary, or redundant fees from his or her fee application, and second, whether the fee award is reasonable in light of the success obtained.
See Hensley v. Eckerhart , U. Generally, the starting point for determining the reasonable amount of attorney's fees is to calculate the number of hours reasonably expended and to multiply that number by a reasonable hourly rate the "loadstar" amount.
See Robinson v. City of Edmond , F. The Court has an obligation to exclude hours not "reasonably expended" from the loadstar calculation.
Malloy v. Monahan , 73 F. In support of its application for fees, Symbion submitted the affidavit of Stephen Hamilton, the attorney of record in this case, and a declaration of R.
Scott Greathead. Greathead is Symbion's outside counsel and is licensed to practice law in New York.
Greathead is not licensed in New Mexico, however, and has not entered an appearance in this case. The Court will only allow fees from the attorneys and the associates in their firm who have entered an appearance in the case.
Greathead has not participated as counsel of record in this case, and Mr. Wilson could not have anticipated that he would be responsible for paying Mr.
Greathead's fees as a sanction. In the Court's view, Mr. Greathead's role as corporate counsel to Symbion makes him more akin to the client, rather than the attorney litigating this case.
Therefore, I will not include Mr. Greathead's fees as part of the sanction against Mr.Learn more. Rwanda is a country close to my heart and. Last Name. I am a Www.Casino Baden investment adviser that is pushing for American investment into Africa. Wanijiru Ngige.