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(Sharecast News) - Emmerson said on Thursday that its arbitration proceedings against the Kingdom of Morocco had progressed, with the tribunal now fully constituted and a procedural timetable agreed for the initial phase of the case.
In an update on the arbitration process, the AIM-traded firm said the panel was completed in the fourth quarter of 2025 following the appointment of its president, Laurent Lévy, a Swiss and Brazilian national.
An initial hearing was held on 16 December, at which the tribunal determined a number of procedural matters and set a timetable for the opening stage of the arbitration.
Under the agreed schedule, Emmerson was required to submit its memorial by the end of the first quarter of 2026.
The memorial would set out the company's case in full, including its legal arguments, supporting evidence and the compensation sought.
Following the submission, the arbitration would move to the next phase, in which the Government of the Kingdom of Morocco would have the opportunity to respond.
The arbitration was related to claims filed on 30 April last year by Emmerson's subsidiaries, Khemisset UK and Potasse de Khemisset, which submitted a request for arbitration to the International Centre for Settlement of Investment Disputes.
The request was registered by ICSID on 23 May last year.
Emmerson's subsidiaries were seeking compensation for losses they alleged arose from Morocco's breaches of its obligations under the UK-Morocco bilateral investment treaty, including the alleged expropriation of the Khemisset project and failures to provide fair and equitable treatment, full protection and security, and protection from discriminatory measures.
The company said there could be no certainty as to the outcome of the treaty claims and that it would provide further updates as the arbitration progressed.
At 1230 GMT, shares in Emmerson were up 1.82% at 2.24p.
Reporting by Josh White for Sharecast.com.
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