Ntaka Hill Holdings Limited (United Kingdom) has appointed a specialist investment arbitration law firm to represent it in potential arbitration proceedings and will consider any other actions necessary to ensure its rights are protected
Engagement with litigation funders has commenced -strong interest received from recognised industry participants
Six]month period has now commenced where the parties can negotiate a mutually acceptable outcome
If agreement cannot be reached in 6 months a Claim can be referred to the International Centre for the Settlement of Investment Disputes (ICSID), part of the World Bank
The quantum of the any Claim submitted to ICSID for compensation may include, but will not be limited to: - the value of historic investment in Tanzania,
- the value of the project at the Ɵme tenure was expropriated,
- damages the Company has suﬀered as a result of Tanzania's acts and omissions.
All feasible legal avenues will be pursued to protect the rights of shareholders