Zhongzhi Hi-Tech Overseas Investment Ltd v Vincent Wenyong Shi - HKIAC-A18222 - Final Award - 23 August 2019
Country
Year
2019
Summary
HKIAC/A18222 - Final Award
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H. FINAL AWARD
139. Having carefully considered the entirety of the Parties' evidence and submissions placed before the Tribunal, and for the reasons set forth above, the Tribunal FINALLY:-
(1) ORDERS that the Respondent forthwith pays the Claimant the sum of US$144,987,086.78, pursuant to section 1.2 of the Amended Cooperation Agreement; and
(2) ORDERS that the Respondent pays the Claimant simple interest on the sum of US$144,987,086.78 at 5.5% per annum from 3 October 2018 to the date of this award, and thereafter at the judgment rate determined by the Chief Justice of Hong Kong from time to time (currently 8.125% per annum) until payment in full, pursuant to sections 79 and 80 of the Arbitration Ordinance (Cap. 609); and
(3) ORDERS that the Respondent forthwith pays the Claimant the sum of US$197,968.66, being the costs (Willis arbitration within the meaning of Article 34 of the Rules, together with simple interest thereon at the judgment rate determined by the Chief Justice of Hong Kong from time to time (currently 8.125% per annum) from the date of this award until payment in full, pursuant to section 80 of the Arbitration Ordinance (Cap. 609).
140. Save as expressly provided for and awarded in §139 above, the Tribunal further
Made in Hong Kong this 23 day of August 2019.
OCR errors may be present