Churchill appeal to Supreme Court rejected
Thursday, June 14 2012 - 08:33 AM WIB
London-listed firm Churchill Mining Plc said that the Indonesian Supreme Court has rejected its appeal to overturn the Samarinda Administrative Court?s decision earlier over mining licenses dispute.
"We are disappointed in the written decisions confirming the rejection of our appeal. We are underway with the International Arbitration claim against the Republic of Indonesia to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia," said Churchill Mining's Chairman David Quinlivan.
Churchill's appeal was launched to overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan. The Supreme Court's decisions affirm that the decrees of the Regent of East Kutai revoking the four mining licenses that make up the East Kutai Coal Project (Churchill 75% interest) were validly issued.
Separately, Churchill said it has filed a claim at the International Centre for Settlement of Investment Disputes (ICSID) in Washington D.C. against the Republic of Indonesia.
The company is actively moving forward with the claim against the Republic of Indonesia for direct breaches of Indonesia 's investment laws and Indonesia 's obligations under international investment treaties, it said.
The company will provide further updates on the progress of the International Arbitration claim when available, it said.
Editing by Roffie Kurniawan