Antwerp, 22nd of October 2007
Dear Member,
We are pleased to send you this second edition of independent news from your Polished Diamond Organization.
-----Intern Compensatie Fonds-----
After carefully considering different law practices, we have retained the candidacy of the law office of STIBBE in Brussels.
We have received a Memorandum detailing in clear and precise terms the legal situation and the different options that can be considered. We are currently studying this document and the options that are available to us before reporting to you with further information.
Most probably, the BVGD will introduce, on behalf of all members who wish to recuperate their contributions, a complaint at the Work Tribunal. By acting together we will be able to divide the procedural costs fee amongst all the claimants. It is important to note that regardless of which procedure is chosen; only claimants will be entitled to reimbursement.
Many people are wondering whether they should pay. We cannot advise our members not to pay as this is penal according to this law. One could argue, if nobody pays, that it becomes a case of "civil disobedience." However, this is irrelevant for the pending Court procedure because in order to sue and obtain the reimbursement one has to provide the proof of payment.
We are fairly confident on our chances of success. The law office contacted is the best constitutional lawyers of Brussels.
We will inform you timely as soon as different details are set.
-----SOC-----
The European Commission has asked a second delay to file its defense memoir until December 14th. We regret that the Commission is procrastinating by obviously trying to buy time and scheming to shore up as best it can its ill-fated rejection decision of our complaint.
Indeed, following the decision by the TFI annulling the Commission’s decision to prevent De Beers from buying from Alrosa, it is increasingly obvious that the Commission has done nothing to protect competition by allowing SOC to continue.
The BVGD is of course following attentively the unfurling events.
-----AWDC-----
We are still waiting to have a meeting with the AWDC Board of Directors in order to ask how it intends to deal with different issues.
Chief among them is the total lack of communication to the Trade. We simply do not know what is AWDC doing. One issue that is uppermost on everyone's mind is the judicial raids that seem to be happening at a regular pace. The lack of information from AWDC only adds to the uncertainty felt by many making every one feel insecure.
It is unacceptable that Authorities are confiscating the goods of a company, thereby crippling its ability to function. Reading the newspapers, one realizes that in no other sector, no matter the level of the presumed fraud, does the Judiciary prevent the company to continue its productive activity.
Yet, there are many uncertainties and many rumors going around the Trade but no reliable information coming from the AWDC. It should be aware that confidence in a marketplace is of paramount importance for its development and growth.
The raids may be in some cases justified and in some cases not, but discerning news from rumours is currently simply impossible.
We hope you have found this Newsletter informative,
Best regards,
Andre Gumuchdjian
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