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Pin to quick picksCloudified Holdings Limited Share News (CHL)

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Churchill Mining still in the dark over Indonesia disengagement

Thu, 05th May 2016 15:32

(ShareCast News) - Churchill Mining was still in the dark as to a the recent disengagement by Indonesia in ongoing arbitration on Thursday, though it was pleased the International Centre for the Settlement of Investment Disputes had received Indonesia's share of the fifth advance payment - albeit significantly late.The AIM-traded company had initially announced the default by Indonesia on 13 April, and on 20 April it revealed it had not received confirmation from Indonesia that it was participating in arbitration.Overnight, the ICSID tribunal secretary advised Churchill that a $0.2m wire transfer had been received from Indonesia, which it understood to be the payment of its share of the fifth advance of ICSID's fees and expenses.The secretary also advised that the $0.2m paid earlier by Churchill to address Indonesia's default will now be refunded.In a letter dated 25 April, the ICSID tribunal invited Indonesia to explain its failure to pay its share and to make any comments it may have by 9 May.The company confirmed on Thursday that it was not aware that any explanation had yet been given by Indonesia for the almost two month delay in paying the fee advance, or for its disengagement in the arbitral process.Churchill was advised by the ICSID Tribunal that good progress had been made in its deliberations on Indonesia's Forgery Dismissal Application, and will revert around mid-June with an indication of when its ruling will be issued."We are pleased that the issuing of the ruling on Indonesia's Forgery Dismissal Application is close," said Churchill chairman David Quinlivan."Obviously it is also pleasing that, albeit belatedly, Indonesia has paid its share of the fifth advance on the tribunal's fees. We still do not understand why Indonesia defaulted but we trust an explanation will be provided."
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UK earnings, trading statements calendar - next 7 days

Tuesday 30 April 
Avacta Group PLCFull Year Results
Card Factory PLCFull Year Results
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Close Brothers Group PLCTrading Statement
Cloudified Holdings LtdHalf Year Results
Coca-Cola HBC AGTrading Statement
Elementis PLCTrading Statement
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Fadel Partners IncFull Year Results
Glencore PLCTrading Statement
Hargreaves Lansdown PLC Trading Statement
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Safestore Holdings PLCHalf Year Results
Shield Therapeutics PLCFull Year Results
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Computacenter PLCTrading Statement
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Next PLCTrading Statement
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Endeavour Mining PLCQ1 Results
Hiscox LtdTrading Statement
International Personal Finance PLCTrading Statement
Kerry Group PLCTrading Statement
Lancashire Holdings LtdTrading Statement
Melrose Industries PLCTrading Statement
NAHL Group PLCFull Year Results
Reach PLCTrading Statement
Shell PLCQ1 Results
Smiths News PLCHalf Year Results
Smurfit Kappa Group PLCTrading Statement
Spectris PLCTrading Statement
Standard Chartered PLCQ1 Results
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Friday 3 May 
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Monday 6 May 
no events scheduled 
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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EARNINGS AND TRADING: Adnams names new CEO; Roebuck swings to loss

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12 Dec 2023 19:31

IN BRIEF: Cloudified completes Falanx disposals, targets acquisition

Cloudified Holdings Ltd - Reading, England-based cybersecurity provider - Completes the sale of Falanx Cyber Defence Ltd and Falanx Cyber Technologies Ltd which was approved at the general meeting held on November 27. Explains the disposal is a fundamental disposal pursuant to Rule 15 of the AIM Rules for companies. Accordingly, the company now constitutes a cash shell in accordance with Rule 15 of the AIM Rules and expects to have cash balances post-restructuring and transaction costs of around GBP0.4 million.

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31 Jan 2017 15:36

Churchill Mining still appealing Kutai decision

(ShareCast News) - Churchill Mining announced on Tuesday that, further to its announcement on 23 December, it was continuing to work with the its solicitors Clifford Chance on a detailed analysis of the award and a review of potential grounds to seek revision or annulment of the award pursuant to se

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31 Jan 2017 09:59

Churchill Mining Still Review Position After Indonesia Claim Dismissal

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7 Dec 2016 11:59

Churchill Mining's $1bn claim against Indonesia struck off

(ShareCast News) - A tribunal has struck out a claim by Churchill Mining for damages after Indonesia's government revoked its licence for a coal project. The AIM-listed miner said it was "extremely disappointed" by the decision by a tribunal from the International Centre for Settlement of Investment

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7 Dec 2016 09:11

Churchill Mining Claim Against Indonesia Dismissed, Must Pay Costs

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2 Dec 2016 08:23

Churchill Mining Expects Indonesian Tribunal Decision Next Tuesday

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29 Nov 2016 09:51

Churchill Mining Requests Tribunal Update As No Decision, Award Issued

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16 Nov 2016 15:20

Churchill mining expects ruling on Indonesia case in 2 weeks

(ShareCast News) - Indonesia-focused coal miner Churchill Mining said the International Centre for Settlement of Investment Disputes (ICSID) would be issuing a ruling on its claim against the Indonesian government within two weeks. In a statement, the AIM-listed firm said the ICSID was in the proces

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19 Oct 2016 14:35

Churchill Mining losses widen as Indonesia arbitration drags on

(ShareCast News) - Along with an increased loss, final results from Churchill Mining carried a detailed account of its ongoing arbitration claim against the Indonesian government after it revoked the licence to mine the East Kutai coal project coal project. The AIM-listed company spent $1.54m on leg

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19 Oct 2016 13:35

Churchill Mining Loss Widens As It Continues To Pursue Claim

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21 Jun 2016 16:35

Tribunal date set for Churchill Mining's spat with Indonesia

(ShareCast News) - The tribunal ruling on Churchill Mining's dispute with Indonesia expects to pass down a ruling in September 2016. Churchill Mining, a British mining corporation, has been in a dispute with Indonesia since March 2013 for damages related to an unlawful seizure of the East Kutai C

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