Emmerson (AIM:EML), the AIM-listed company pursuing a treaty claim over its Morocco potash project, said the arbitration tribunal has confirmed the procedural timetable for the rest of the case.
The update follows the tribunal's rejection in July of Morocco's bid to bifurcate the proceedings, clearing the way for a single set of scheduled steps toward a hearing.
Morocco must file its counter-memorial, setting out its defences and jurisdictional objections with supporting evidence, by January 2027.
Emmerson's reply is due in October 2027, with Morocco's rejoinder to follow in January 2028.
The hearing itself is set for 17 to 26 July 2028, when both sides will make submissions and witnesses and experts will face cross-examination before the tribunal.
Emmerson is seeking $1.215bn, net of local taxes and including interest, over Morocco's alleged expropriation of its project and breaches of fair and equitable treatment obligations under the UK-Morocco bilateral investment treaty.
The company said there can be no certainty as to the outcome of its claims.
The next milestone falls in January 2027, when Morocco's counter-memorial is due.
News Intelligence what this means for the company
Emmerson's $1.215bn arbitration against Morocco now has a confirmed hearing date of July 2028, with Morocco's counter-memorial due January 2027 as the next procedural milestone. The tribunal rejected Morocco's earlier bid to split the case, clearing a single procedural path forward, but the company itself notes there is no certainty as to the outcome—a two-year wait to hearing means the claim remains unresolved and its recovery contingent on both winning the award and then enforcing it across jurisdictions.
The confirmed timetable removes procedural uncertainty but extends the timeline to resolution by nearly two years. For a company whose principal asset is this disputed project, the arbitration outcome remains the core value driver, and no hearing date changes the binary nature of that risk.
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