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Tribunal grants most of NOC’s counterclaims, and finds that it has no jurisdiction to meddle with upcoming appraisal process
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NOC is entitled to rely on contract’s provisions for Default, given Trasta’s pretextual refusal to hold shareholder meeting
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NOC followed contractual procedure to declare Deadlock
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NOC’s motives in triggering contractual mechanisms are irrelevant
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Fourth resolution was invalid and could not lead to Deadlock
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Second and third resolutions were also valid, while claimant’s factual allegations do not convince
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Trasta was aware that purported NOC representatives had no authority to sign alleged settlement
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Resolution appointing NOC’s director on LERCO’s board was valid, as no ministerial approval was necessary
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Decision from earlier tribunal interpreting the contract is not
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Documents would not add anything to the record, and would require engaging in further procedural steps
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Majority of the tribunal declines to introduce new documents into the record on the eve of date set for closing the proceedings
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Tribunal issues provisional measures regarding underlying contractual provisions and respondent’s local petition to appoint administrator
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No ground to postpone hearings over stringency of COVID Protocol or absence of one of the parties’ counsel – but eventual quarantine of counsel team warrants such postponement
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Background: Dispute within joint-venture over a refinery spawned a quintet of cases
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Ghana is ordered to repay nearly 70 million USD to Nigerian energy firm
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