"if we wait too long we will lose both LC and our legal avenue"

This is an important point: we do not lose our arbitration right by continuing with a political effort.

The statute of limitations under the bilateral trade treaty is three years from the date of breach:

"not more than three years have elapsed from the date on which the investor first acquired, or should have first acquired, knowledge of the alleged breach and knowledge that the investor has incurred loss or damage" Art. XII § 3 §§ d.

IMO the date that is appropriate to start arbitration is when it becomes clear that Hugo is not continuing the process, which at the outside would be in the next six months. But, before resorting to arbitration we should sell all existing equipment and be financially ready to play it out to the end.

Summary: not time yet, we maintain all out legal rights.