Standard Chartered Bank flops in 5.2tr/- compensation and tariff recalculation case challenged by IPTL

By Correspondent

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...

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Daily News
THE Independent Power Tanzania Limited (IPTL) and Pan African Power Solution Limited (PAP) have filed a suit at the High Court in Dar es Salaam, demanding 3,240,000,000 US dollars (about 5.3tri/-) from Standard Chartered Bank (Hong Kong) Limited ...

 

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