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Tribunal expeditiously rejects Guinea’s counterclaims
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Claimant’s request for penal interest was rejected
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No compensation was awarded for lost profits
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Amount owed to AD Trade under the Leopard Contract is valued at 32 million EUR
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AD Trade fulfilled all of its contractual obligations under the Leopard Contract
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AD Trade could not claim damages for the Panther Contract, as it was never performed
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No fraud in the acquisition of the contracts
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Guinea acted in bad faith by failing to obtain proper government approval and then using the lack of approval to contest the contracts’ validity
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Objection regarding contracts’ nullity was raised after limitation period had already expired
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Tribunal deems contracts to be invalid under Guinean law due to failure to obtain proper approvals
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Guinean law on the formation of public law contracts is applicable as an overriding mandatory rule
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Background: Guinea’s unilateral termination and lack of payment of security contracts prompt ICC claim
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