Brief: Avax Says Arbitration Court Dismissed The Claim For Compensation Of The Company By The Republic Of Lebanon

Avax SA

25/06/2024 15:21

June 25 (Reuters) - Avax SA  AVAr.AT :
    * AVAX SAYS THE INTERNATIONAL CENTRE FOR THE SETTLEMENT OF
INVESTMENT DISPUTES RULED TO DISMISS THE CLAIM FOR COMPENSATION
OF THE COMPANY BY THE REPUBLIC OF LEBANON
    * AVAX SAYS IT IS REQUIRED TO PAY EUR 1.3 MILLION TO THE
REPUBLIC
OF LEBANON FOR COSTS INCURRED DURING THE ARBITRATION PROCEEDINGS
    * AVAX SAYS THE DECISION OF THE ARBITRATION COURT IS
EXPECTED TO
RESULT IN A TOTAL ACCOUNTING LOSS OF EUR 16 MILLION AND WILL BE
REFLECTED IN THE COMPANY'S H1 2024 RESULTS


Further company coverage:  AVAr.AT 

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