Niko Resources Ltd NKRSF

One year Later

[Bigwhiskey]

july 2016 .. this is Inda SH!T


The Tribunals also had proceeded to examine the issues concerning the liability for the blow-outs and heard evidence and argument on these issues in November 2015 and in February 2016. Before the Tribunals had issued their decision on liability and while the Parties were producing their submissions on the quantum of the resulting damage, BAPEX and Petrobangla served their requests concerning the avoidance of the JVA and the GPSA on grounds of corruption (the Corruption Claim). The Tribunals then decided to assign first priority to this claim and suspended the proceedings on liability. The Tribunals gave directions for the proceedings on the Corruption Claim. They nevertheless decided in the Third Decision on the Payment Claim that, in the circumstances, Petrobangla’s obligation to make payment for the gas delivered in the amounts previously determined, as it had been determined in the First Decision of 11 September 2014, continued to exist, and ordered immediate payment thereof. The decision was in the following terms:











1. Petrobangla shall pay to Niko forthwith and free of any restrictions USD 25,312,747 and BDT 139,988,337, plus interest (a) in the amounts of USD 5,932,833 and BDT 49,849,961 and (b) as from 12 September 2014 at the rate of six month LIBOR +2% for the U.S. Dollar amounts and at 5% for the amounts in BDT, compounded annually; 2. This payment must be made immediately and is not subject to any contrary orders from the Courts in Bangladesh; 3. In view of the difficulties which have occurred in the past with respect to the payment of the amount owed to the Claimant, the