Copper Co. Gets OK To Collect Half Of $6B Pakistan Award

Law360 (November 9, 2020, 10:31 PM EST) -- An Australian copper mining joint venture has been given the green light to try to collect 50% of a massive $6 billion arbitral award issued against Pakistan following a dispute over a rejected mining project, so long as it agrees to repay those funds if the award is annulled.

The International Centre for Settlement of Investment Disputes committee issued the order on Oct. 30, saying Pakistan hadn't obtained an irrevocable bank guarantee or letter of credit for 25% of the award, which was a condition laid out by the committee in September for keeping the stay of enforcement in place. Pakistan...

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