Thai Coal Co. Banpu Ordered To Pay $970M Over Failed JV

Law360, New York (September 20, 2012, 8:55 PM EDT) -- Thailand's biggest coal producer Banpu PCL will have to pay at least 29.8 billion Thai baht (US$965.8 million) to its former partner in a $3.7 billion Laotian power project for allegedly costing the other company the government concession for the project, Banpu said Thursday.

The Thailand Civil Court ordered the payments after ruling in favor of Thai businessman Siva Nganthavee, who in 2007 sued Banpu and several subsidiaries for 63.5 billion baht in profits that Banpu allegedly cost Siva and his company Thai-Lao Lignite through a...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.