The below is from quarterly
Not unexpectedly, a notice of appeal against substantially the whole of the SICC’s findings against Bayan in the second tranche judgement was subsequently filed by Bayan on 23 August 2017. Bayan has until 25 November 2017 to file submissions for appeal with SICC and following that White Energy has one month to file a reply. The appeal is fixed for hearing on a date between 5 February 2018 and 13 February 2018.
The White Energy Group had invested over US$110 million in the Tabang project in Indonesia up until 2012 when BR repudiated the joint venture. Substantial legal costs have also been incurred in relation to the proceedings to recover damages from Bayan.
After the appeal judgement, White Energy will prepare for the third tranche of the proceedings, seeking damages and costs.
So, did Bayan file & what did they say ?
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