In the Reko Diq case, the British Virgin Islands High Court ruled in Pakistan's favor, restoring the frozen assets of the PIA, on which the Rose Welt Hotel New York and the Scribe Hotel Paris were returned to Pakistan.
According to Express News, the British Virgin Islands High Court rejected the Tethan Company's application for execution of the old decision and froze PIA's assets, revoking all previous orders against PIA in the case. Canceled order.
The court also ordered the Tethan Copper Company to pay the costs of litigation against Pakistan, but the Tethan Company will be able to file an intra-court appeal against the decision.
In this regard, Attorney General Khalid Javed Khan said that the court had issued orders to freeze the assets at the request of Tethyan Copper Company but now the court has quashed all the orders already issued against PIA in the Reko Diq case.
He said that after the verdict, Roosevelt Hotel, New York and Scribe Hotel Paris have also been returned to Pakistan and now the TCC will have to bear the cost of the case.
He said that TCC (Tethyan Copper Company) was allowed to appeal against the decision which is normal but the decision was in favor of Pakistan.
Congratulating the decision, Minister of State for Information and Broadcasting Farrukh Habib said in a tweet that Pakistan has achieved great success in international litigation and all decisions against PIA in Reko Diq case have been reversed while TCC has taken legal action. Gambling costs will also be paid.
Congratulations Pakistan 🇵🇰.
— Farrukh Habib (@FarrukhHabibISF) May 25, 2021
British Virgin Island High court has announced a verdict in favor of PIA. In Reko Diq case, all ordered passed against PIA earlier are removed now. Receiver. removed from Rosevelt hotel in NY, Scribe hotel in Paris and cost of litigation is awarded.
