http://www.bworldonline.com/content.php?section=Corporate&title=edc-unit-gets-partial-award-in-weir-dispute&id=122487
EDC
told the stock exchange Bac-Man Geothermal Inc. (BGI) has received the partial
award from the International Court of Arbitration of the International Chamber
of Commerce (ICC) involving the arbitration proceedings with Weir Engineering
Services Ltd.
Weir was ordered to pay BGI $4.4 million within seven days of the date of the partial award, and $887,902.03 within 21 days as reimbursement for legal costs.
BGI initiated the arbitration case to enforce its rights under a contract that called for the completion of works to the steam turbine and generator of the BacMan plant’s three units. The move came after a “favorable determination” by a designated engineer that “sums are owed by Weir to BGI” in April 2015. In the same month, Weir filed a separate request for arbitration before the Construction Industry Arbitration Commission (CIAC).
EDC said the ICC tribunal had declared that it has the exclusive jurisdiction to hear and determine the disputes. It also noted the tribunal ordered Weir to stop proceedings in any other dispute resolution forum, including the CIAC, in connection with disputes arising under the contract that have been referred to arbitration by BGI under the ICC rules. -- Victor V. Saulon
Weir was ordered to pay BGI $4.4 million within seven days of the date of the partial award, and $887,902.03 within 21 days as reimbursement for legal costs.
BGI initiated the arbitration case to enforce its rights under a contract that called for the completion of works to the steam turbine and generator of the BacMan plant’s three units. The move came after a “favorable determination” by a designated engineer that “sums are owed by Weir to BGI” in April 2015. In the same month, Weir filed a separate request for arbitration before the Construction Industry Arbitration Commission (CIAC).
EDC said the ICC tribunal had declared that it has the exclusive jurisdiction to hear and determine the disputes. It also noted the tribunal ordered Weir to stop proceedings in any other dispute resolution forum, including the CIAC, in connection with disputes arising under the contract that have been referred to arbitration by BGI under the ICC rules. -- Victor V. Saulon
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