Overview of PhosCo's recent appeal decision

PhosCo Ltd (ASX: $PHO) has received an unfavorable decision from the Court of Cassation in Tunis, denying the company's appeal regarding the non-payment of A$6.3m damages, costs, and interest owed by TMS to PhosCo. This refusal impacts PhosCo's ability to sell TMS's 49% interest in CPSA, prompting the company to seek legal advice for further actions.

Insight into PhosCo's response and next steps

PhosCo is currently seeking legal advice to explore its options for pursuing TMS in light of the refusal of the appeal. The company remains committed to enforcing the arbitral award and recovering the outstanding A$6.3m damages, costs, and interest owed by TMS. Despite the setback, PhosCo continues to focus on its 100% held projects and permit applications.

Summary of PhosCo's current situation and outlook

PhosCo (ASX: $PHO) has faced a setback with the Court of Cassation's refusal of its appeal regarding TMS's non-payment of A$6.3m damages, costs, and interest. The company is now evaluating its legal options to pursue TMS for the outstanding amount. Despite this challenge, PhosCo remains dedicated to its existing projects and permit applications. The company's focus on enforcing the arbitral award and recovering the owed amount reflects its commitment to protecting its interests and seeking resolution in this matter.