[Page 1]
IN THE HIGH COURT OF JUSTICE
BUSINESS AND PROPERTY COURTS
OF ENGLAND AND WALES
QUEEN’S BENCH DIVISION
COMMERCIAL COURT
Claim No. CI-2021-000629
CL-2021-000629
IN THE MATTER OF THE ARBITRATION ACT 1996
AND IN THE MATTER OF AN ARBITRATION CLAIM
Before: The Honourable Mrs. Justice Cockerill DBE
Dated: 4 November 2021
BETWEEN:
| GPGC Limited | Claimant |
| -and- | |
| The Government of the Republic of Ghana | Defendant |
ORDER
UPON determining the Claimant’s without notice application pursuant to s. 66(1) and (2) of the Arbitration Act 1996 by Arbitration Claim Form and Application Notice dated 27 October 2021 without a hearing
AND UPON reading the Witness Statement of Christopher Bailey dated 27 October 2021
AND UPON the Court being satisfied that the Respondent was not entitled to immunity by virtue of sections 2 and/or 9 of the State Immunity Act 1978
IT IS HEREBY ORDERED THAT:
1 Pursuant to section 66(1) of the Arbitration Act 1996, the Claimant shall have leave to enforce the arbitration award dated 26 January 2021 made by Mr John Beechey CBE, Mr J. William Rowley QC and Professor Albert K. Fiadjoe (the “Tribunal”) in arbitration proceedings in PCA Case No. 2019-05 (the “Arbitration”) pursuant to an arbitration agreement contained in the Emergency Purchase Agreement between the Claimant and the Defendant dated 3 June 2015 (the “Award”), such leave to include enforcement of interest as set out in paragraphs 2.2 and 2.5 of this Order below.
[Page 2]
2 Pursuant to section 66(2) of the Arbitration Act 1996, judgment be entered for the Claimant against the Defendant in the terms of the Award, namely that the Defendant pay to the Claimant:
2.1 The full value of the Early Termination Payment, together with Mobilization, Demobilization and preservation and maintenance costs in the amount of US$ 134,348,661;
2.2 Interest on the principal sum of US$ 134,348,661 payable from 12 November 2018 until the date of payment, accruing daily and compounded monthly, at the rate of LIBOR for six-month US dollar deposits plus six per cent (6%);
2.3 US$ 309,877.74 in respect of the Costs of the Arbitration;
2.4 US$ 3,000,000 in respect of the Claimant’s legal representation and the fees and expenses of its expert witness; and
2.5 Interest on the aggregate amount of US$ 3,309,877.74 at the rate of LIBOR for three-month US dollar deposits, compounded quarterly.
3 The sum of US$ 34,348,661 which has already been paid by the Defendant to the Claimant shall be credited against the principal amount and accrued interest thereon referred to in paragraphs 2.1 and 2.2 above.
4 Pursuant to CPR r. 62.18(8), this Order may be served out of the jurisdiction without permission.
5 This Order may be served within twelve months from the date upon which it was made.
6 Within 2 months and 22 days after service of the order, the Defendant may apply to set aside this Order (such period being inclusive of the two months allowed under section 12(2) of the State Immunity Act 1978). The Award must not be enforced until after the end of that period, or until any application made by the Defendant within that period has been finally disposed of.
7 The costs of this application, including the costs of entering judgment, be paid by the Defendant, which are summarily assessed in the amount of £65,000.00.