2nd Dec 2016 08:23
LONDON (Alliance News) - Churchill Mining PLC on Friday said it expects to receive a decision regarding its claim against the Indonesian government next Tuesday.
Churchill Mining said its lawyers Clifford Chance LLP received notice of the International Centre for Settlement of Investment Disputes' intention to issue the decision.
As such, a temporary suspension in the trading of Churchill Mining's shares on AIM will take effect from next Tuesday, and restoration of the shares will take place after the group provides a statement on receiving the decision.
Churchill and the Indonesian government are in a legal battle over the decision to revoke Churchill's licences covering its sole asset, the East Kutai coal project.
Churchill in the past has said it considers the measures taken by the Indonesian government as "unlawful" and said it has pursued its claim against the country in an attempt to secure USD1.31 billion, plus interest, in damages.
Shares in Churchill were up 3.0% at 38.25 pence on Friday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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