Smith Cogeneration Bangladesh PVT LTD v Bangladesh Power Development Board and The Government of Bangladesh - ICC International Court of Arbitration Case No 10372-OL-ESR-MS - Final Award - Damages and Costs - 30 October 2003
Country
Year
2003
Summary
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DECISION:
84. Smith has established its claim against the Board for lost profits, lost development costs and lost fees in the sum of $10.42 million.
85. The Tribunal orders that the Board shall pay costs of the arbitration assessed by the ICC at $625,000 and the sum of $516,567 towards the legal costs and disbursements incurred by Smith.
86. The Tribunal further orders that simple interest shall be paid on the damages and costs awarded in favour of Smith. Interest shall run at the rate of 4%, beginning on the dates indicated above at paragraph 82 until such time as the relevant principal sum is paid.
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John Tackaberry Q.C.
Ajmalul Hossain Q.C.
Arthur Marriott Q.C