If you wait for the Bondholders case to be decided before you File, you will strengthen their case by having failed to follow up on KRY's stated Option to File,following the expiration of the 6months Notification.

In order to demonstrate that KRY has not lost control of the negotiations with Venezuela, KRY must File for Arbitration ASAP, now that we know that NO negotiations will be entered into AFTER the Filing with the ICSID. This will put tremendous pressure on the V.Govt. to negotiate and settle the problem before May 27th, or be subject to the ruling of the ICSID WITHOUT ANY FURTHER NEOTIATIONS. This would negate the Bondholders' Case against KRY as it would demonstrate that KRY continues exercising control and will no longer tolerate further stalling tactics.

In summary, it puts Venezuela on Notice that it has until May27th to issue the Permit, or, by the Rules of the ICSID, neither party can negotiate, and it is the Court that will settle the dispute.