Addax Petroleum (fka AXC)

[Julius Erving]

Specific Performance asks the court to force the opposing party into a contract that binds them to actually perform the contract at issue, rather than award damages for breach of contract. In real estate litigation, a buyer can force a reluctant seller to live up to the purchase and sale agreement.

Indeed:

"In the fall of 2017, ERHC BVI terminated the Agreement with the IOC. Dissatisfied with the termination, the IOC instituted arbitration at the ICC, claiming wrongful termination and seeking, inter alia, specific performance of the Agreement and/or more than $500 million in damages which the IOC claims as its valuation of the Block."

That is a good point. And it narrows the discussion here... because the motive of Kosmos is pinpointed, i.e. the reason for them to spend that energy and money on this worthless contract...

Any (valid, common sense) comments, SSC?

The Doc.