Ann: AVZ Successfully Restrains Cominiere, page-28

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DRC: AVZ suffers a heavy defeat in ICC emergency arbitration (Tribune

Tribune-On November 16, 2023, according to the latest information, within the framework of ICC emergency arbitration No. 27720/SP (AVZ v. Cominiere), of which AVZ is so proud, the emergency arbitrator rendered his decision :

(1) to refuse to order the payment of a penalty of 22 million euros;
(2) to significantly reduce the period of validity of its first injunction, and the injunction will expire immediately after the constitution of the final arbitral tribunal;

Tribune-On November 16, 2023, according to the latest information, within the framework of ICC emergency arbitration No. 27720/SP (AVZ v. Cominiere), of which AVZ is so proud, the emergency arbitrator rendered his decision :

(1) to refuse to order the payment of a penalty of 22 million euros;
(2) to significantly reduce the period of validity of its first injunction, and the injunction will expire immediately after the constitution of the final arbitral tribunal;
(3) to reject all other requests from AVZ, including that of tripling the amount of the penalty from €50,000/day to €150,000/day.
It is clear that the court made the right decision in removing the " advantage " claimed by AVZ after being informed of the numerous facts that AVZ had violated DRC law, breached the JV contract and hindered the development of the Manono mine for seven years.
The ICC court made significant changes from the May 2023 injunction.