Pakistan ‘faces $11.43b damages claims’ in Reko Diq mining case

[AZADPAKISTAN2009]

Unfortunately , we are not going to pay zilch for a contract , with no digging rights awarded
Contract is a first step , the followup task is getting licence for rights to dig

+If you cannot aquire licence then your origional contract is automatically nullified

• This is like Sale of a Car with condition you have driving licence and valid insurance

If you have no valid Licence secured , then your Sale of car contract is void
If you have secured no insurance , then you cannot drive car


A person/firm who fails to get ( Driver Licence /Driver Insurance/Security Approvals) they cannot claim to own a car or drive it out from showroom.

A mining firm who fails to get (Licence /Insurance/Approvals) they cannot dig in country, and if they cannot dig in country their are not minning company and their registration is thus "CANCELLED"


Now if this person claims to own a car and sells rights to it while not having keys to car or not actually paying car dealership any funds , he is a fraudster


Similarly a Mining company who failed to get any Licences , and their contract is voided by Government of Pakistan , minipulates and sells some fake rights to some minining then I am afraid they played the system without owning any rights to any mining business in Pakistan

 

[SunilM]

Unfortunately , we are not going to pay zilch for a contract , with no digging rights awarded
Contract is a first step , the followup task is getting licence for rights to dig

+If you cannot aquire licence then your origional contract is automatically nullified

• This is like Sale of a Car with condition you have driving licence and valid insurance

If you have no valid Licence secured , then your Sale of car contract is void
If you have secured no insurance , then you cannot drive car


A person/firm who fails to get (Licence /Insurance/Approvals) they cannot claim to own a car or Mining business in Pakistan



Similarly this person cannot go tell his friends he owns a car/mining business and also goes ahead and actually sells this "virtual car" to them and run away. His origional contract was Void

Nope. Read up on "Specific performance of a contract" and " Damages in the alternative". Once a contract is executed, rights accrue to parties. In this case the company has accused the govt of breach of terms of the agreement due to which it was unable to perform the contract. Therefore in terms of the arbitration clause in the agreement, it approached the appropriate fora as set out in the agreement. In such case local courts including the Supreme Court do not have any jurisdiction.

An award was granted against the Pakistani Government and now the only issue is the quantum of award. Sorry dude but Pakistan will have to pay up and its all the fault of the previous corrupt governments.

 

[AZADPAKISTAN2009]

Like I said the money is ready in Islamabad

We want the Executives from first company the Top Dogs to come to Pakistan to pick up the funds

• Our Security Charges to Protect this 11 Billion in Bag comes to about 1 Billion Dollar per day
• The potley is there to be picked up in next 30 days , if no one shows up then we will confiscate the bag to recover our security charges
• From my last conversation with the Security Cheif , we are now at day 15

To Islamabad

 

[SunilM]

Like I said the money is ready in Islamabad

We want the Executives from first company the Top Dogs to come to Pakistan to pick up the funds

• Our Security Charges to Provide for this 11 Billion in Bag comes to about 1 Billion Dollar per day
• The potley is there to be picked up in next 30 days , if no one shows up then we will confiscate the bag to recover our security charges

To Islamabad

Also read up on the execution of a foreign award, The appropriate High Court/ Supreme Court is bound under the provision of the Civil Procedure Code which recognize foreign awards, to help execute such awards. So your courts will be the executing courts.

 

[AZADPAKISTAN2009]

Come now , the bag is ready

Invoice

We owe : 11.2 Billion USD, it is in Red bag
Our security Charges : 15 Day @ 1 Billion Dollar per day rate = 15 Billion USD
-------------------------------------------------------------------------------------------
Total : -5.0 Billion USD
--------------------------------------------------------------------------------------------

So it seems , we have some Legal fees the executives will need to pay before being allowed to Leave Pakistan they can certainly take the bag with them

 

[Śakra]

One should ask though, why did the Pakistani govt not challenge the award?

Because they probably got kickbacks

 

[BATMAN]

tHATYS THE THING ABOUT THE STUPIDS SITTING IN bALOCHISTAN ASEMBLY. tHEYT MESSED UP THE WHOLE PROJECT BY CONSTANT BITCHHING AND MOANING AND NOW THE FEDERAL GOVERNMENT WIL HAVE TO PAY THE DAMAGES. (Cant be arsed to write again without capslock)

Balochi politicians wanted some kick backs, but the deal was all done. So they cancel the deal in hope they will be offered some share, which they obviously get not!
A Politician would care less if Pakistan burn down to ashes. All he cares is about himself.
People of Pakistan will bleed those $billions but would not stop idolizing politicians.

 

[SunilM]

Because they probably got kickbacks

Bingo!

 

[Śakra]

Bingo!

I can't believe how corrupt pakistan is. I mean Indian politicians are very corrupt but they don't allow their corruption to undermine national security or national interest. Their own politicians would rather get some kickbacks than contest a court ruling that will cause their country's already waining coffers serious grief.

 

[SunilM]

I can't believe how corrupt pakistan is. I mean Indian politicians are very corrupt but they don't allow their corruption to undermine national security or national interest. Their own politicians would rather get some kickbacks than contest a court ruling that will cause their country's already waining coffers serious grief.

Politicians or general whosoever is in power.

 

[Kabira]

tHATYS THE THING ABOUT THE STUPIDS SITTING IN bALOCHISTAN ASEMBLY. tHEYT MESSED UP THE WHOLE PROJECT BY CONSTANT BITCHHING AND MOANING AND NOW THE FEDERAL GOVERNMENT WIL HAVE TO PAY THE DAMAGES. (Cant be arsedñ

Nope, rest of Pakistan will not pay. That was made clear to Balochistan gov when they cancelled Reko Diq deal which was approved by previous Balochistan gov in hope of more kickbacks and corruption. If provincial gov **** up some deal they should bear the cost from their budget.

 

[Rollno21]

Well ok we have a bag full of money we will only hand it to executive from first company who defrauded Pakistan

They can come collect the funds. We have it here in Islamabad come get it
We will play the game they play with Nigeria where 90% of revenues vanish yeah right


Please come to Pakistan , 'Need executives' to land in Pakistan
We have the bags ready 30 days to pick it up or the funds will be confiscated by Pakistani Government for No show


If due to Lack of Visa
If lack of interest to pick bag of money
If due to any circumstances you can't come

Unfortunately Pakistan will have to confiscate the funds for various service changes while we kept a tight security around your 11 billions in Bag in Islamabad


30 Day Security Bill:

• 6 Awacs flew every day to ensure no criminals were near the bags
• 50,000 Troops ensures the city was 100% secure so you can come collect funds
• We also used 15 Navy ships to ensure no Pirates were coming to steal the bag of cash

Total Bill comes to 11.5 Billion dollar for 30 days of protection

Buddy with these kind of claims

Come now , the bag is ready

Invoice

We owe : 11.2 Billion USD, it is in Red bag
Our security Charges : 15 Day @ 1 Billion Dollar per day rate = 15 Billion USD
-------------------------------------------------------------------------------------------
Total : -5.0 Billion USD
--------------------------------------------------------------------------------------------

So it seems , we have some Legal fees the executives will need to pay before being allowed to Leave Pakistan they can certainly take the bag with them

With argument like this forget about big cases ,for a simple case involving 100 PKR fine you might end up with a life imprisonment ,now wonder Pakistan looses all it's case in international courts

 

[Thanatos]

Nope. Read up on "Specific performance of a contract" and " Damages in the alternative". Once a contract is executed, rights accrue to parties. In this case the company has accused the govt of breach of terms of the agreement due to which it was unable to perform the contract. Therefore in terms of the arbitration clause in the agreement, it approached the appropriate fora as set out in the agreement. In such case local courts including the Supreme Court do not have any jurisdiction.

An award was granted against the Pakistani Government and now the only issue is the quantum of award. Sorry dude but Pakistan will have to pay up and its all the fault of the previous corrupt governments.

I think you are right. Pakistan will have to pay the money. Might be in installments, they dont have that amount of money. Also the two parties might come down to a settlement.

I can't believe how corrupt pakistan is. I mean Indian politicians are very corrupt but they don't allow their corruption to undermine national security or national interest. Their own politicians would rather get some kickbacks than contest a court ruling that will cause their country's already waining coffers serious grief.

Says some one who's army take kick backs from even small deals of arms. India was even involved in corruption over buying coffins for soldiers who died in Kargil. Fix your home first before coming here and criticizing Pakistan.
No doubt that this was a bad deal. But same happens in india, more so than Pakistan.

 

[El Sidd]

Peanuts

 

[SunilM]

I think you are right. Pakistan will have to pay the money. Might be in installments, they dont have that amount of money. Also the two parties might come down to a settlement.

Yes that could be the solution. In International Commercial Arbitratrion, the monetary awards are generally of a severe magnitude. Also, there is no other option, considering the level of forex reserves.