Reko Dik awards: BVI High Court unfreezes PIA’s assets, keeps $6 bn award intact
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LONDON: The High Court of Justice in the British Virgin Islands (BVI) has lifted the attachment orders on PIA’s offshore assets Roosevelt Hotel in Manhattan, Scribe Hotel in Central Paris and Minhal Incorporated in the US$6 billion Reqo Diq case against Pakistan, according to Attorney General of Pakistan’s office.
The News has learnt that the High Court judge lifted the receivership and didn’t make any final determination whether the PIA could be held accountable for the debt owed by Pakistan. The court sources said that the injunction prohibiting the sale of the assets remains in place, while the Claimant Tethyan Copper Company (TCC) was granted leave to appeal.
Shao Baiqing and Ace Lead Profits Limited Respond to Recent Press Releases by Hollysys Automation Technologies wallstreet-online.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wallstreet-online.de Daily Mail and Mail on Sunday newspapers.
Shao Baiqing and Ace Lead Profits Limited Won Preliminary Victory Against Hollysys Automation Technologies in the BVI | 0 On March 8, 2021, Justice Gerhard Wallbank of the Commercial Division of the Eastern Caribbean Supreme Court, Territory of the British Virgin Islands (the “Court”) approved an order (the “Order”) recording a preliminary victory by Shao Baiqing (“Mr. Shao”) and Ace Lead Profits Limited (“Ace Lead”, together with Mr. Shao, the “Claimants”) in their lawsuit against Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the “Company”), filed on February 1, 2021. In the lawsuit, the Claimants challenge the legality of recent wide-ranging amendments to the Company’s memorandum and
BVI court puts off Reko Diq case hearing till 18th
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January 10, 2021
LONDON: The High Court of Justice in the British Virgin Islands (BVI) has postponed the hearing on the enforcement of the US$6 billion award in the Reko Diq case until January 18, and Pakistan International Airlines (PIA) assets registered in the BVI jurisdiction remain frozen. The News has learnt that the hearing on Thursday lasted only for about half an hour and Justice Gerhard Wallbank of the BVI High Court of Justice, after dealing with some procedural matters, fixed the new hearing date for January 18 when Pakistani lawyers will present their case for the first time as the freezing order during the last hearing was issued ex parte.
LONDON: The High Court of Justice in the British Virgin Islands has postponed the hearing on the enforcement of the $6 billion award in the Reko Diq case until the 18th January and meanwhile.