PhosCo (ASX:PHO) relodged an application to enforce an arbitral award with Tunisia's Court of Appeal to make TMS pay around AU$6.3 million in damages and costs related to its 51%-owned Chaketma phosphate project, according to a Thursday filing with the Australian bourse.
PhosCo tried to seize TMS' 49% interest in Chaketma Phosphate to offset the money owed but was unsuccessful in Tunisia's highest court, the Court of Cassation.
PhosCo has lodged a new seizure, which remains in place, and has now chosen to apply to enforce the arbitral award to avoid further challenges, the filing stated.
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