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Arbitrators found against the companies and ordered them to pay millions of dollars toward Laos’ legal costs and expenses.
One tribunal found in 2019 that Lao Holdings had acted in bad faith and ordered it to pay Laos $1.95 million. Another made a similar finding against Sanum and awarded the government $1.78 million.
A third arbitration produced another award worth nearly $1.3 million, taking the amount Laos is seeking to more than $5 million.
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That’s where I am now, having accepted the fact that the CalvinAyre and CoinGeek chapters of my life are coming to a close. For the past three years, I have been part of a unique and incredible group that has worked tirelessly to spread the word on the gaming and cryptocurrency industries that we felt would provide a positive impact for our readers. I, like everyone else, have always endeavored to be consistent and factual with the words I put on virtual paper, even though I know, based on some of the emails I have received, that I have also ruffled a few feathers. At the end of the day, though, I can rest easy in the knowledge that I was always transparent and factual.
I would be lying if I said it’s going to be easy to accept this transition and to refocus my efforts elsewhere. However, I am eternally grateful for having been given this excellent opportunity and have enjoyed every aspect of being involved in the Calvin Ayre organization. What is coming next may still not be defined, but that’s what is going to make the next chapter exciting; it can bring essentially anything and everything. What I know, regardless of what happens next, is that I will continue to be who I am and will continue to provide the same level of professionalism and integrity that have brought me this far, and which are paramount for everyone involved with Calvin Ayre. I thank everyone at the organization for their undeniable commitment to excellence and thank all of our supporters and readers for allowing us to share with them our experiences and knowledge.
If anyone wants to reach out to me, I can always be found on LinkedIn.
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“We have been there for a long time and we have our positioning quite cemented. [But] we need to look at ourselves and keep improving, keep embracing the Peruvian culture and the way we fit in the market by applying a localised approach.”
As seen in many markets, especially in LatAm, local Peruvian brands and their cultural knowledge are facing competition from international operators that often bring bigger scale in terms of technology and capital.
For Ramiro Atucha, founder and CEO of Atucha Strategic Advisory, whether international operators can press home their scalable advantages will depend on how seriously they take localisation.
