Ann: Suspension from Quotation, page-24

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jamesprivet

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28/07/24

21:12

Post #: 74953121
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Originally posted by Streetsie: ↑

IX. AWARD

413. For the reasons set forth above, the Tribunal unanimously decides as follows:

(1) The Tribunal has jurisdiction over the dispute submitted to it in this arbitration;
(2) The Respondent unlawfully expropriated the Claimants’ investment in Tanzania breach of Article 5 of the BIT;
(3) The Respondent shall pay the Claimants USD 76,704,461.76 in damages and additional losses;

295 The remaining balance will be reimbursed to the parties in proportion to the payments that they advanced to ICSID.

(4) The Respondent shall pay the Claimants compound interest at the rate of 2% above the USD Prime rate on the amount awarded in (3) above, such compound interest to run from 10 January 2018 until the date upon which payment is made;
(5) The costs of the arbitration, including the fees and expenses of the Tribunal and ICSID, shall be borne by the Respondent. The Respondent shall accordingly pay the Claimants USD 254,420.07 as reimbursement for the Claimants’ share of the costs of the arbitration;
(6) The Respondent shall pay the Claimants USD 3,859,161 in respect of the Claimants’ legal costs and expenses;
(7) All other claims are dismissed

Tanzania will be given 45 days to make full payment.

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That is from the Award dated 14th July 2023

https://indianaresources.com.au/wp-content/uploads/2023/08/2023.07.14-Award-Nukl-v.-Tanzania.pdf

Last edited by jamesprivet: 28/07/24

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Ann: Suspension from Quotation, page-24

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