ICC rules in favour of Orascom Telecom in Chad
Orascom Telecom Holding has announced that the International Chamber of Commerce (ICC) panel has issued a final decision in its favour, with financial compensation, in the arbitration action brought by Orascom against Sotel Tchad, the Chadian fixed line telco, and the Republic of Chad.
The dispute arose from a decision by the Chadian Ministry of Telecommunications to invalidate the transfer of 51% of the shares of Tchad Mobile to OTH despite the fact that a valid agreement was entered into in late 2002 between OTH and Sotel Tchad.
As a result, OTH suspended its operation of Tchad Mobile in July 2004. After repeated efforts to resolve the matter amicably with representatives of Sotel Tchad and the Government, and as a last resort for the enforcement of its rights, OTH proceeded with the ICC arbitration. Now all it has to do is collect on the judgement…