GAMBIA FREE FROM A $33.2M COMPENSATION PAYMENT ORDER TO FOREIGN INVESTOR – The Standard Newspaper
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The Tribunal had remained inactive since its establishment in 1996; it raised concerns about possible constitutional violations
IS THE GAMBIA GOVERNMENT SAVED FROM PAYING 32 MILLION DOLLARS
According to the Ministry of Information, Media and Broadcasting Services, the suit against the government for 32 million dollars has not been successful after arbitration in UK. Instead, the plaintiff is ordered to pay costs amounting to 213,000 dollars. This development is a lesson for the government. It requires expertise to process contracts such as building deep port in order avoid losing in case of arbitration due to allegation of breach o…
GAMBIA FREE FROM A $33.2M COMPENSATION PAYMENT ORDER TO FOREIGN INVESTOR – The Standard Newspaper
By Omar Bah President Adama Barrow has welcomed a major legal victory for The Gambia after an international investment dispute annulment committee in London annulled an arbitration award of about $33.2 million that had been issued against the country. The dispute stemmed from the takeover of a shrimp farm during the former regime. In March 2024, an international tribunal ordered The Gambia to pay heavy compensation to foreign investors, but the …
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