Cameroonian businessman reacts to the article "When Fotso loses across Board" published in our last edition via the right to reply to counsel, Michael Bühler of the law firm Jones Day.
"Contrary to what is mentioned in the article (LC nº691), the Republic of Guinea Equatorial has never, in any of the stages of the CBGE folder executed its commitments. It has in fact, refused to execute the arbitral award of the AYAC condemning it to pay the sum of €70 million to CBGE.
She then has never worked on "a payment of the sum upon the signing of the Protocol. On the contrary, the Republic of Guinea Equatorial has partially run the amicable agreement reached late 2012, forcing the CBGE to denounce the transactional Protocol and to attempt to obtain payment of sums owed through seizures.
Malabo has not initiated "a procedure for seizure" which would "require Yves-Michel Fotso to withdraw," but has, in court, brandished the argument of immunity from execution enjoyed by the accounts of its Embassy and buildings in which diplomatic agents lodged to prevent these seizures to continue. The Republic of Guinea Equatorial abused its exorbitant privileges to continue to exempt from its obligations to the CBGE".
We hold Yves Michel Fotso responsible for his words, if the latter was convinced of Equatorial Guinea "abuse of an exorbitant right", it was sufficient to request his lawyer to plead the hearing related to the seizure of apartments. However, he chose to withdraw. Malabo has initiated a procedure for seizure as evidenced by the findings of his lawyer. The latter claimed in this capacity an amount of 50,000 euros in damages and interests.
Finally, the Equatorial Guinea settled € 20.8 million out of € 30 million due to the terms of a memorandum of understanding signed late 2012. The remainder of the sum was the subject of a second Protocol in August 2013 and it was settled a month later. A transaction certified by a bailiff.
