Churchill files request for annulment of ICSID award
Wednesday, April 5 2017 - 01:09 AM WIB
LSE-listed Churchill Mining plc said it had on March 31 lodged an application for an annulment of a December 2016 ICSID tribunal ruling made in relation to settle dispute with the Indonesian government over a coal asset.
?In the annulment application, the company explains how the (ICSID) award is the product of a process that was tainted by a range of serious departures from fundamental rules of procedure and fairness and manifest excesses of power by the arbitrators,? Churchill said in a statement Tuesday.
As part of its annulment application, the company requested a stay of enforcement of the award and asked the ICSID Secretary-General to inform the Indonesian government that the enforcement of the award has been provisionally stayed.
The International Centre for Settlement of Investment Dispute (ICSID) granted in December of last year Indonesia's application to dismiss claims filed by Churchill Mining Plc and its subsidiary Planet Mining Pty Ltd for damages arising out of the revocation of the mining licenses that made up the East Kutai Coal Project (EKCP) in East Kalimantan Province.
Churchill and its Australian subsidiary Planet Mining filed in 2014 a lawsuit with ICSID against the government of Indonesia, which has been accused by the company of unlawfully revoking its mining license over the East Kutai coal project, which is Churchill?s only asset. The UK firm has sought for about US$1.3 billion in compensation. But the Indonesian government has accused Churchill of falsifying license documents of the East Kutai coal project.
Churchill has been ordered by ICSID to also pay a total of US$ 9,446,528 in costs and arbitration tribunal fees.
Editing by Reiner Simanjuntak