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Fraport Applies for Annulment of Recent Manila ...
Fraport Applies for Annulment of Recent Manila ....
About this update from Firering Strategic Minerals Plc
[{"type":"text","content":"\n \n\n\n\nFRANKFURT, Germany, December 7 /PRNewswire/ --\n\n- Compensation Claim at the World Bank to be Reopened\n\n FRA/rap> Within the prescribed time period, Fraport AG's executive board\nhas now filed for an annulment of the decision made in August 2007 by the\nInternational Centre for Settlement of Investment Disputes (ICSID) of the\nWorld Bank in Washington, D.C. The Fraport supervisory board fully supports\nthis action.\n\n\n\n With a two-to-one decision, the ICSID tribunal dismissed\nFraport AG's compensation case against the Republic of the Philippines for\nexpropriating the terminal project in Manila. Supported by renowned legal\nfirms, an analysis of the ICSID decision revealed that the decision violated\nFraport AG's fundamental rights in numerous points.\n\n\n\n If the annulment application is accepted, the company will\ndecide whether it will resubmit to the World Bank its compensation claim\nagainst the Republic of the Philippines.\n\n\n\n \n For More Information, Please Contact:\n Fraport AG Frankfurt Airport Services Worldwide\n Robert A. Payne, B.A.A. - Manager International Press\n Press Office (Dept. UKM-PS), Corporate Communications (UKM)\n 60547 Frankfurt am Main, Federal Republic of Germany\n Tel.: +49-69-690-78547; Fax: +49-69-690-60548;\n E-mail: [email protected]; Internet: http://www.fraport.com\n\n\n \n ","length":1548,"tagName":"div"}]