Summary

Tethyan Copper Company Pty Limited v Islamic Republic of Pakistan; Pakistan International Airways Corporation Limited; Pia Investments Limited; Minhal Incorporated; Pia Hotels Limited; Virgin Islands Registrar Of Companies; Citco B.V.I. Limited; Harneys Corporate Services Limited.

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IT IS HEREBY ORDERED THAT:

Provisional Charging Order

1. The following property in the Territory be provisionally charged pursuant to section 3(1) of the Charging Orders Act, 2020 (the "2020 Act") and CPR 48.5(1) to secure the sum of US$ 3,114,339,607.50 (the "Provisional Charge"), namely:

a. 100% of the shares in the capital of PIA Investments Limited, BVI Company Number 2719 ("PIA BVI");

b. 100% of the shares in the capital of PIA Hotels Limited, BVI Company Number 1529741 ("PIA Hotels"); and

c. 40% of the shares in the capital of Minhal Incorporated, BVI Company Number 136242 ("Minhal") (collectively, the "Shares") (PIA BVI, PIA Hotels and Minhal herinafter collectively referred to as the "BVI Companies").

2. To the extent that the Shares yield or pay income, dividends or other forms of the provisional charge shall extend to any such income, dividends or other value pursuant to section 4(2) of the 2020 Act.

3. The hearing for the provisional charging order to be made final will take place at the High Court of Justice, Virgin Islands, Commercial Division at 10am on 15 March 2021 (time estimate 30 minutes) for directions or finalisation.

4. The First Respondent ("Pakistan") or any other person objecting to the making of a final charging order must file and serve any such objection in writing by way of affidavit stating the grounds of the objection not less than 14 days before the hearing.

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(OCR errors may be present)