Project Handover Options Explained

Summary

The TMGO project involves two options: Meridiam handing over the project to the Government of Ethiopia (GoE), allowing GoE to manage or wind down the project, or MIGA compensating Meridiam with conditions such as no legal action against GoE for Force Majeure and a 36-month restriction on restarting the project. A draft letter to the Ministry of Justice outlines these options and seeks guidance on the preferred course of action.

Full Conversation

Option *: Meridiam hands over the project (shares & concession) back to GOE. GoE can then decide to bring in a third party to restart the project or can decide to wind down the project. GoE would have the right to do anything it wanted with the concession and project.   Options *: MIGA pays Meridiam and Meridiam keeps the project. MIGA will try to build in the following conditions. I) Meridiam may not sue GoE for FM. II) Meridiam may not restart the same project (with in the same parameter and concession) for a period of 36 months, and if it does so, then Meridiam will need to repay the claim amount to MIGA.  prepare draft letter to moj explaining status of TMGO and hand over plan. refer also to previous letters
Sure Ared, here's a draft for your letter:
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[Your Name]
[Your Position]
[Company Name]
[Date]
To:
[Recipient's Name]
Ministry of Justice
[Address]
Subject: Status Update on TMGO Project and Hand Over Plan
Dear [Recipient's Name],
I am writing to provide an update on the current status of the TMGO project and to outline the proposed handover plan. This correspondence follows our previous communications on this matter.
Option *: Meridiam has proposed to hand over the project (including shares and concession) back to the Government of Ethiopia (GoE). This would allow GoE to either bring in a third party to restart the project or to wind it down as deemed appropriate. Under this option, GoE would have full rights to manage the concession and the project as it sees fit.
Option *: Alternatively, MIGA could compensate Meridiam, allowing Meridiam to retain the project. However, MIGA would impose certain conditions, including:
- Meridiam may not pursue legal action against GoE for Force Majeure (FM).
- Meridiam may not restart the same project within the same parameters and concession for a period of 36 months. Should Meridiam decide to do so, it would be required to repay the claim amount to MIGA.
We seek your guidance on the preferred course of action and any further instructions you may have.
Thank you for your attention to this matter.
Sincerely,
[Your Name]
[Your Position]
[Company Name]
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Please make sure to review and adjust any specific details as needed.