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Will Odyssey Marine face another significant legal action or settlement by December 31, 2024?
3
Resolution / Starting Odds
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No • 50%
Public legal filings and company announcements
Story
Odyssey Marine ($OMEX) Wins $37.1M in NAFTA Arbitration, Stock Drops 85%
Sep 17, 2024, 07:15 PM
Odyssey Marine Exploration ($OMEX) has won a NAFTA arbitration case against Mexico, resulting in an award of $37.1 million plus interest for breach of environmental obligations. The award orders Mexico to pay for breaching its obligations under NAFTA Chapter Eleven. The ICSID tribunal determined that the award is solely the value of the 'permit bump' increase in value, which includes the immediate increase in project value associated with the permitting and incidental fees. Despite the arbitration win, Odyssey Marine's stock fell significantly, dropping 85% in a single day. Lit funders are set to receive proceeds from the award.
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Similar markets
Yes • 50%
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No legal action taken • 25%
Settled out of court • 25%
OceanGate found liable • 25%
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U.S. Government • 25%
Families of victims • 25%
Former employees • 25%
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