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Zimbabwe Loses Appeal In US$124 Million Border Timbers Case

5 months agoThu, 31 Oct 2024 07:02:09 GMT
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Zimbabwe Loses Appeal In US$124 Million Border Timbers Case

The UK Court of Appeal dismissed an appeal by Zimbabwe and Spain to set aside the International Centre for Settlement of Investment Disputes (ICSID) awards, each worth over $100 million.

As reported by NewsDay, in January, the UK courts dismissed Zimbabwe’s application to set aside an October 2021 order.

The award, rendered on July 28, 2015, required Zimbabwe to reinstate properties to Border Timbers, pay $29.3 million, or, in default, pay $124 million, plus $1 million in moral damages.

On October 22, 2024, the Court of Appeal handed down its judgment in the joint appeals.

The central issue was whether the ICSID Convention or the Arbitration Act 1966 deprived foreign States of immunity under the State Immunity Act 1978.

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The respondents in the appeals were investors in Spain and Zimbabwe, who obtained ex parte orders registering those awards.

Zimbabwe and Spain argued they were immune from the Court’s jurisdiction, while award creditors argued that immunity was displaced by statutory exceptions.

The Court of Appeal rejected the arguments by both first instance judges and decided that ICSID awards may not be opposed on grounds of State immunity.

The Court also rejected several other arguments by the investor parties but did not address Spain’s case regarding the arbitration agreement.

Zimbabwe’s non-immunity defences to enforcement have been remitted to the Commercial Court.

Zimbabwe indicated it would oppose the enforcement of the ICSID award on further grounds if it lost its challenge on State immunity. Part of the judgment reads:

It is suggested that these would come within the class of exceptional matters which were recognised in Micula as remaining open by reason of the award being treated like any other final judgment.

It, therefore, seems that such grounds have not been adjudicated upon, remain at large, and therefore Zimbabwe is right to say that its application to set aside the registration order should not have been dismissed but should have been the subject of further directions. I say nothing about the merit of the non-immunity defences.

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14 Comments

Anonymous · 5 months ago
Zimbabwe can afford to pay Border Timbers.....
cde che guveira · 5 months ago
and the bad part is that those who grabbed the land belonging to Border Timbers are now being allowed to sale the land to anyone so they should pay from the proceeds ye land yavanenge vatrngesa
ncii · 5 months ago
MaZimbo tose ngatibvisei ma$10.00 each tibhadhare chikwereti otherwise tinotorerwa nyika!!!!
Alby. · 5 months ago
vangaitora kuChina here
jivaschihwehwete@gmail.com · 5 months ago
Ask for set-off on funds they were suppose pay for land redistribution compensation.
pk · 5 months ago
🤣🤣🤣🤣🤣🤣 this language is too deep that's why we are being duped by white people 🤣🤣🤣🤣🤣
jivaschihwehwete@gmail.com · 5 months ago
Sure the language used is very deep.
pk · 5 months ago
😁😁😁😁It is suggested that these would come within the class of exceptional matters which were recognised in Micula as remaining open by reason of the award being treated like any other final judgment. It, therefore, seems that such grounds have not been adjudicated upon, remain at large, and therefore Zimbabwe is right to say that its application to set aside the registration order should not have been dismissed but should have been the subject of further directions. I say nothing about the merit of the non-immunity defences.😁😁😁😁😁😁 please anyone who can understand this help me 🤣🤣🤣🤣🤣🤣🤣🤣
jivaschihwehwete@gmail.com · 5 months ago
What had happened?
Chiurai · 5 months ago
Ikanzi atadza ndapatorwe Zvinhu kutotora ka ku statehouse Kumba kwenyika. But zvinotorwanani
wa · 5 months ago
Dear court we are failing to pay back the World Bank how can we raise $124 mirion to pay Timber Boarders? Aaah !!! have mercy.
...,. · 5 months ago
can our people who practice law in government deal with issues of international law?
No they Cannot ! · 5 months ago
these govt clown "lawyers" here cant even deal with their own laws in Zimbabwe , take the expired zig as an example .... kkkkkk

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