Thai court stays order for ฿25.7bn baht compensation payment to Hopewell
The Central Administrative Court has stayed the execution of a court injunction, upheld by the Supreme Administrative Court, ordering the Thai Transport Ministry and State Railway of Thailand to pay Hopewell (Thailand) 25.7 billion baht in compensation, for breach of contract.
The order was read on Monday, 10 days after the court read a ruling by the Supreme Administrative Court allowing a retrial of the controversial case, citing the availability of new facts.
The legal battle between Hopewell (Thailand), a subsidiary of Hong Kong-based Hopewell Holdings, and Ministry of Transport and SRT has dragged on for more than 20 years, making it one of Thailand’s longest running litigations.
Hopewell was awarded a contract to build the Bangkok Elevated Road and Train System, from Bangkok to Don Mueang airport in 1990.
Hopewell took the case to an arbitration tribunal in November 2004 and, four years later, the tribunal ordered SRT and Transport Ministry to pay the builder 11.8 billion baht in compensation. In March 2014, the Central Administrative Court annulled the tribunal’s order.
Hopewell appealed the verdict to the Supreme Administrative Court in April 2019 and the court overturned the lower court’s ruling, ordering the two agencies to pay Hopewell the compensation, plus 7.5% interest per annum.
Source: https://www.thaipbsworld.com/thai-court-stays-order-for-%e0%b8%bf25-7bn-baht-compensation-payment-to-hopewell/
