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Article: WORLD BANK ACCEPTS FRAPORT AG'S ARBITRATION AGAINST PHILIPPINES.
- Article from:
- AsiaPulse News
- Article date:
- October 14, 2003
CopyrightCOPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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(Full text of this release can be found at http://www.asianet.com.au)
FRANKFURT, Oct. 13/news aktuell-AsiaNet/ - The World Bank's International Centre for Settlement of Investment Disputes (ICSID) has registered Fraport AG's "Request for Arbitration" against the Government of the Philippines. Fraport is demanding more than $425 million of compensation arising from the Philippine government's expropriation and unfair and inequitable treatment of Fraport's investment in a new passenger terminal (IPT3) built at Ninoy Aquino International Airport (NAIA) in Manila, the Philippines. Fraport's arbitration request comes only after more than six months of discussions ...
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Article: FRAPORT AG DENIES IPO FUNDS USED FOR MANILA ...
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... ... the German newspaper Handelsblatt, Fraport AG explained that no funds from the ... repayment. Since the end of 2000, Fraport AG has not made any additional funding ... position as of the end of 2000. Fraport AG has taken the study's recommendations ...
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