Churchill says it has not yet received key tribunal ruling
Wednesday, February 19 2014 - 12:18 AM WIB
UK-based coal miner Churchill Mining Plc said on Tuesday that it has not yet received the ruling of Washington-based International Center for Settlement of Investment Disputes (ICSID) regarding its international arbitration claim against the Indonesian government.
The company on December 27 said that it anticipated ICSID to make the ruling late in January or early February of this year.
?The company wishes to advise that as of this morning it has not received the tribunal's ruling,? it said in a statement.
?The company's lawyers Quinn Emmanuel Urquhart & Sullivan, LLP are in the process of contacting the secretary of the tribunal to request an updated timeframe for the issuance of the tribunal's ruling on the Republic of Indonesia's jurisdictional challenge,? it added.
Churchill filed in May of 2012 a Request for Arbitration with ICSID against the Republic of Indonesia (RI), alleging that Indonesia breached its obligations under the UK-Indonesia Bilateral Investment Treaty when licenses on the East Kutai coal project in Kalimantan were revoked.
Churchill?s Australian subsidiary Planet Mining Pty Ltd , which via its 5 percent shareholding in PT Indonesia Coal Development also held an interest in the East Kutai Coal Project, filed a separate arbitration with the ICSID against RI pursuant to the Australia-Indonesia Bilateral Investment Treaty (the Planet Arbitration). The Churchill Arbitration and Planet Arbitration have subsequently been consolidated into a single proceeding.
The government of Indonesia then made a challenge on whether ICSID has the jurisdiction to hear the Churchill claims.
Editing by Reiner Simanjuntak