An arbitration tribunal hearing a $210 million arbitration against the Kyrgyz Republic for canceling a Canadian company’s licenses to mine rare earths has rejected the country’s challenges to its authority to hear the case, the company told shareholders Thursday.
The decision means that claims will advance to the merits stage, Stans Energy Corp. said. The dispute comes after setbacks to the company’s effort to enforce a separate arbitral award worth $118 million were rejected twice by Canadian courts, which prevented Stans from seizing assets belonging to…
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source: law360.com
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