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CHL - Churchill Mining News Story

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Last Trade - 05/12/16

Sector
Energy
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 1821

Supreme Court Appeal - Written Result

Thu 14th June, 2012 7:00am
RNS Number : 3354F
Churchill Mining plc
14 June 2012
 



 

14 June 2012                                                                                               AIM:  CHL

 

CHURCHILL MINING PLC

("Churchill" or "the Company")

 

Result on the Appeal to the Supreme Court of Indonesia and update on International

Arbitration against the Republic of Indonesia

 

Churchill Mining plc (AIM: CHL), advises that further to the RNS Release of 3rd April 2012 regarding notations on the Indonesian Supreme Court's register of cases showing rejections of the appeals by Churchill/Ridlatama, the written decisions confirming these rejections have been delivered to the Samarinda Administrative Court and received by Churchill/Ridlatama.

 

"We are disappointed in the written decisions confirming the rejection of our appeal. We are underway with the International Arbitration claim against the Republic of Indonesia to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia," said Churchill Mining's Chairman David Quinlivan.

 

Churchill's appeal was launched to overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan. The Supreme Court's decisions affirm that the decrees of the Regent of East Kutai revoking the four mining licences that make up the East Kutai Coal Project (Churchill 75% interest) were validly issued.

 

The Company's lawyers will arrange for official translations of the Supreme Court's decisions to be placed on the Company's website at www.churchillmining.com. The Company will when appropriate provide an update on steps it may take in relation to possible Civil Review of the Supreme Court's decision.

 

International Arbitration under the United Kingdom - Indonesia Bilateral Investment Treaty

 

Churchill has filed a claim at the International Centre for Settlement of Investment Disputes ("ICSID") in Washington D.C. against the Republic of Indonesia. The Company is actively moving forward with the claim against the Republic of Indonesia for direct breaches of Indonesia's investment laws and Indonesia's obligations under international investment treaties.

 

The Company will provide further updates on the progress of the International Arbitration claim when available.

 

 

END

           

For further information, please contact:

 

Churchill Mining Plc

David Quinlivan             /Russell Hardwick

+ 61 8 6382 3737

 

 

 

Northland Capital

Partners Limited

Shane Gallwey / Luke Cairns

+44(0)20 7796 8800

 

Travistock Communications

Paul Youens / Jos Simson

+44(0)20 7920 3150

 


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