Vientiane vows to fight verdict | Bangkok Post: business

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Vientiane vows to fight verdict

New evidence emerges in Hongsa legal battle

  • Published: | Viewed: 2,588 | Comments: 0
  • Newspaper section: Business
  • Writer: Nareerat Wiriyapong & Nalin Viboonchart
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KUALA LUMPUR : The Laotian government has vowed to fight further against an arbitration award ruling in favour of Siva Nganthavee's group in another lawsuit linked to Banpu Plc's Hongsa project. 

The Kuala Lumpur court yesterday began hearing Vientiane's petition for the reversal of an arbitration award granted in 2009.

The Malaysian court ruled in that year that Vientiane pay US$57 million in compensation to Mr Siva's group for improperly breaching a project development agreement (PDA).Including interest, total damages are $71 million.

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