Pakistan

BVI High Court recalls its order, unfreezes PIA offshore assets in Reko Diq case

Published

4 years ago

May 25, 2021

Editor

ISLAMABAD, May 25 (APP): High Court of Justice in the British Virgin Islands (BVI) recalled its earlier order of freezing and attachment of Pakistan International Airlines (PIA) offshore assets which pertained to an appeal of Tethyan Copper Company (TCC) regarding enforcement of the award in the Reko Diq case.

The development was confirmed by the Attorney General for Pakistan office on Tuesday which through a text message apprised the media persons about the latest outcome in favour of Pakistan.

The message said “A short while ago judgment was announced by British Virgin Island High Court. Great legal victory for PIA and Pakistan. The order was passed earlier on the request of TCC which was seeking enforcement of Reko Diq award. All orders passed against PIA earlier are now recalled by the Court. Receiver removed from Roosevelt hotel, NY and Scribe hotel, Paris. Cost of litigation also awarded.”

Justice prevails! By the grace of Allah and with the prayers of all our countrymen, courts in BVI decide in favour of PIA, releasing all hard earned assets i.e., Roosevelt NYC & Scribe Paris. Great victory for PIA and Pakistan. We won this together! ✌ pic.twitter.com/WgVYweiwPt
— PIA (@Official_PIA) May 25, 2021

PIA on its official twitter account posted, “Justice prevails! By the grace of Allah and with the prayers of all our countrymen, courts in BVI decide in favour of PIA, releasing all hard earned assets i.e., Roosevelt NYC & Scribe Paris. Great victory for PIA and Pakistan.”

According to details, BVI High Court Justice Gerhard Wallbank, on December 10 last year, had issued an order in favour of attachment of offshore assets of PIA. The case was moved by the Tethyan Copper Company (TCC) which was seeking enforcement of Reko Diq award granted by the International Centre for Settlement of Investment Disputes (ICSID) on July 12, 2019.

Pakistan

“Through Unity, Faith, and Discipline, We Rise from the Ashes, as Aik Qaum.”

Published

1 day ago

December 16, 2024

EDITOR

The APS (Army Public School) attack was a defining moment in Pakistan’s history. While the pain and scars will never fully heal, the resilience shown by the nation proves its unwavering determination to stand against terrorism. The martyrs of Army Public School are remembered as symbols of hope and courage, inspiring a better and more peaceful future for Pakistan.

“We will never forget, and we will never forgive.”

Pakistan

Nation observes 10th Anniversary of APS Peshawar tragedy

Published

1 day ago

December 16, 2024

EDITOR

The 10th anniversary of the tragic terror incident at Army Public School Peshawar is being observed today to pay tribute to the martyrs.

Special prayers and Quran Khwani are being held for the martyred students and teachers of Army Public School.

Meanwhile, the Khyber Pakhtunkhwa education department has arranged special functions to commemorate the APS incident and martyred students.

On 16th of December 2014, six terrorists stormed the Army Public School Peshawar and martyred one hundred and forty-seven innocent students and teachers of the school.

Pakistan

Chomos festival continues in Kalash Valley

Published

2 days ago

December 15, 2024

EDITOR

The historic fifteen-day Chomos festival continues in Kalash Valley, including Chitral district, on seventh consecutive day, today.

Under the guidance of Tashfeen Haider, Director General of the Khyber Pakhtunkhwa Culture and Tourism Authority, tourist information centers in Chitral City and Upper Dir have been activated to assist both foreign and local visitors.

The Kalash people are observing various rituals during the Chomos festival as part of their New Year celebrations.

Traditional songs, dances, and rituals are key features of the festival, which is set to culminate on the 22nd of this month.