Sanum Investments Limited v St Group Co Ltd - Sithat Xaysoulivong - St Vegas Co Ltd - ICC International Court of Arbitration Case No 25100-PTA-XZG - Final Award - 16 October 2023
Country
Year
2023
Summary
The Arbitral Tribunal:
Robert H. Smit
V.K. Rajah SC
Vera van Houtte (President)
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XIII. DECISION
930. For the reasons set out in this Final Award, the Tribunal decides as follows:
1. By majority, declares that the Tribunal has jurisdiction to consider each of Sanum Investments Limited's claims.
2. Declares that ST Group Co., Ltd., Sithat Xaysoulivong, and ST Vegas Co., Ltd. violated and breached the Master Agreement.
3. Declares that the TSC continued to be governed by the Master Agreement after 11 October 2011.
4. Orders that ST Group Co., Ltd., Sithat Xaysoulivong and ST Vegas Co., Ltd. shall jointly and severally pay to Sanum Investments Limited as damages an amount of USD 170,210,000.
5. Orders that ST Group Co., Ltd., Sithat Xaysoulivong and ST Vegas Co., Ltd. shall jointly and severally pay to Sanum Investments Limited, as contribution towards its legal and ICC costs, USD 2,713,458.15.
6. Orders that ST Group Co., Ltd., Sithat Xaysoulivong and ST Vegas Co., Ltd. shall jointly and severally pay to Sanum Investments Limited interests on the amounts mentioned in paras. 4 and 5 above at the American interest rate of the FED, from the date of this Final Award until full payment.
7. All other requests and claims in this arbitration are dismissed.
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