18th Feb 2014 10:56
LONDON (Alliance News) - Churchill Mining PLC Tuesday said it has still not received the tribunal ruling on its international arbitration claim against the Republic of Indonesia.
The thermal coal producer said its 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 jurisdictional challenge.
In December, Churchill announced that the tribunal decision was expected in late January or early February.
Churchill cut down operations in May 2012 when it filed a Request for Arbitration at the International Centre for Settlement of Investment Disputes against the Republic of Indonesia, alleging that Indonesia breached its obligations under the UK-Indonesia Bilateral Investment Treaty when licenses on a coal site were revoked.
During May 2013 a hearing took place to determine whether the arbitral tribunal has jurisdiction to hear Churchill's claims, following a challenge to the jurisdiction of the case made by Indonesia.
The thermal coal producer said it will provide as soon as it has further information on the timing of the ruling.
Churchill Mining shares were down 6.2% to 21.80 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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