RCS - Zenith Energy Ltd - Global Arbitration Review article regarding ICC-2

Zenith EnergyAnnouncement

21/07/2025 09:30

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RNS Number : 8559R  Zenith Energy Ltd  21 July 2025

July 21, 2025

ZENITH ENERGY LTD.

("Zenith" or the "Company")

Global Arbitration Review article regarding ICC-2

Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; OTC
PINK: ZENAF), the listed international energy production and development
company, notes the publication on July 17, 2025 of an in-depth news article by
Global Arbitration Review ("GAR"), a leading worldwide publication on
international arbitration news, regarding the ICC-2 Arbitration decision
announced on July 16, 2025.

The GAR article details the composition of the Arbitral Tribunal, chaired by
Cecilia Carrara of Legance (Rome), with Mélanie Van Leeuwen, founder of the
Paris boutique firm Vanguard, appointed by Zenith, and Paris-based academic
Walid Ben Hamida as the Republic of Tunisia's appointee.

Citing Zenith's legal counsel, Professor Thomas Clay and Simon Le Wita of
Charles Russell Speechlys Paris, the article reports that the ICC-2
Arbitration was "marked by numerous incidents" in which the Arbitral Tribunal
"failed to resolve issues and was unable to maintain proper control over the
proceedings", concluding that Zenith intends to imminently commence annulment
proceedings, due to the repeated and serious procedural irregularities in the
ICC-2 Arbitration, before the Swiss Federal Supreme Court in Lausanne,
Switzerland.

As quoted by GAR, Professor Thomas Clay stated the following:

"We are deeply surprised by this wholly unexpected ruling. After a three-year
process, the Geneva-seated Tribunal issued a 70-page award with only six pages
of reasoning, refusing to apply the applicable rules and contradicting a prior
arbitral award. This decision reflects an erratic and dysfunctional
arbitration process, marked by several troubling statements from the Tribunal
Chair, Cecilia Carrara."

A full copy of the article can be viewed online by accessing the GAR website:
www.globalarbitrationreview.com (http://www.globalarbitrationreview.com) .

 

Further Information:

 Zenith Energy Ltd

Andrea Cattaneo, Chief Executive Officer  Tel: +1 (587) 315 1279

                                            E:       info@zenithenergy.ca

 

Notes to Editors:

Zenith Energy Ltd. is a revenue generating, independent energy company with
energy production, exploration and development assets in North Africa, the US
and Europe. The Company is listed on the London Stock Exchange Main Market
(LSE: ZEN), the Euronext Growth of the Oslo Stock Exchange (OSE: ZENA) and
the Pink Markets of the OTC (OTC PINK: ZENAF).

Zenith's strategic focus is on pursuing development opportunities through the
development of proven revenue generating energy production assets, as well as
low-risk exploration activities in assets with existing production.

 

For more information, please visit:  www.zenithenergy.ca
(http://www.zenithenergy.ca)

Twitter: @zenithenergyltd

LinkedIn:  https://bit.ly/3A5PRJb (https://bit.ly/3A5PRJb)

 

 

 

 

 

 

 

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