THE Tanzania High Court has dismissed the objections filed by Standard Chartered Bank (Hong Kong) Limited to oppose the suit challenging enforcement of a foreign decision involving recalculation of power tariffs in IPTL and for payments of about 5.3tr/- damages.
Judge Fauz Twaib decided in favour of Independent Power Tanzania Limited (IPTL) and Pan African Power Solution Limited (PAP) after concurring with counter submissions presented by advocate Joseph Makendege, for the two companies.
The judge ruled that all five grounds of objections presented by the Bank, through its counsel Gasper Nyika, were devoid of merits. In its objections, the Bank had alleged that the suit in question was filed without a board resolution from the Tanzanian companies.
Secondly, the Bank had alleged that the suit was time barred in that, it was filed beyond the required time, which is three years from 2005 when the alleged caused of action on the matter arose and that the two companies had no locus standi to institute the proceedings.
The Bank had alleged further that IPTL and PAP were barred from instituting the proceedings in Tanzania since there were others of similar nature that were pending in London. In his ruling, however, Judge Twaib rejected one by one the grounds raised by the Bank.
On board resolution, the judge ruled that the matter was a question of fact which needed to be proved and, thus it could not constitute as a ground of objection as alleged by the Bank. On the time limit, Judge Twaib resolved that the suit was filed within the required time.
Toa Maoni Yako:
0 comments so far,add yours
Hii ni Blog ya Watanzania popote walipo duniani kwa ajili ya kuhabarisha, kutoa/kupokea taarifa na kuelimisha mambo yote yaliyo chanya kwa Taifa letu. Tafadhali sana unapotoa maoni usichafue hali ya hewa wala usijeruhi hisia za mtu/watu. Kuwa mstaarabu...