REG - Churchill Mining plc - Arbitration update <Origin Href="QuoteRef">CHLL.L</Origin>

Cloudified HoldingsAnnouncement

25/11/2014 13:38

RNS Number : 9433X
Churchill Mining plc
25 November 2014
25 November 2014 
 
AIM: CHL 
   CHURCHILL MINING PLC
("Churchill" or "the Company")
Arbitration Update 
Churchill requests ICSID Tribunal to reconsider Procedural Order No 13 
Further to the announcement of 20 November 2014, the Directors of Churchill (AIM: CHL) wish to provide an update on the international arbitration cases the Company and its wholly owned subsidiary Planet Mining Pty Ltd ("Planet") are pursuing against the Republic of Indonesia ("Indonesia") at the International Centre for Settlement of Investment Disputes ("ICSID") in Washington DC. The arbitration before the ICSID Tribunal ("Tribunal") arises from the revocation of the mining licenses relating to the East Kutai Coal Project in East Kalimantan ("EKCP"), Indonesia, in which Churchill and Planet held a 75% interest.
On 18 November 2014, the Tribunal issued Procedural Order 13 ("PO No. 13.") which:-
 Granted Indonesia's request for the reconsideration of Procedural Order 12;
 Directed that the issue of document authenticity be considered as a preliminary matter; and
 Issued a Tentative schedule for the document authenticity phase.
In response to PO No.13, the Company's solicitors, Quinn Emanuel Urquhart and Sullivan, LLP ("Quinn Emanuel"), have filed a request that the Tribunal reconsider PO No.13. Quinn Emanuel consider that PO No.13 is legally unjustified, was issued in contravention of the Company's due process rights and constitutes an implicit endorsement of Indonesia's delaying tactics.
The Tribunal has invited Indonesia to submit by 1 December 2014 its comments on the Company's request that the Tribunal reconsider PO No.13. 
"We are concerned that PO No.13, as it currently stands, will delay the proceedings as a whole and accordingly have filed a request that the Tribunal reconsider its orders in PO No.13. It continues to be the Company's objective to have this case determined in the most expedient and efficient manner possible" said Churchill's Chairman David Quinlivan.
Information on the progress of Churchill/Planet's claim against the Republic of Indonesia can be found at the website of the International Centre for Settlement of Investment Disputes at https://icsid.worldbank.org/ICSID/Index.jsp (under cases for "Churchill"). 
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For further information, please contact:
Churchill Mining plc
David Quinlivan
Nicholas Smith
Russell Hardwick
+ 61 8 6382 3737
Northland Capital 
Partners Limited
Edward Hutton/William Vandyk
+44(0)20 7382 1100

This information is provided by RNS
The company news service from the London Stock Exchange
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