Update on Final Award in Arbitration Proceedings
On 7 June 2018, Avanti Communications Limited announced that it had obtained a final award against the Government of Indonesia in the sum of USD 20.075 million, payable by 31 July 2018.
Due to administrative delays from the London Court of International Arbitration in the release of the signed award, Avanti and the Government of Indonesia have agreed to extend the payment date to 14 August 2018, to ensure that the Government of Indonesia has sufficient time to complete its internal regulatory administration to enable payment to be made.
The Government of Indonesia has confirmed to Avanti that it intends to satisfy the Award in full.
For further information, please contact:
Kyle Whitehill, Nigel Fox
Tel: +44 20 7749 1600
Nick Miles, James Olley
Tel: +44 203 770 7909
Cenkos Securities (Nomad)
Tel: +44 207 397 8900
Redleaf Communications Ralph Anderson
+44 (0)20 3757 6883