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LONDON: The High Court of Justice in the British Virgin Islands has recalled all its earlier orders attaching Pakistan International Airline’s offshore assets — The Roosevelt Hotel in.
LONDON: The High Court of Justice in the British Virgin Islands has lifted the attachment orders on PIA’s offshore assets Roosevelt Hotel in Manhattan, Scribe Hotel in Central Paris and.
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May 26, 2021
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 Reko 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.