GreenX wins $490m compensation claim as tribunal finds Poland breached treaties

Small Caps10-09

GreenX Metals (ASX: GRX) has achieved a positive financial outcome following the conclusion of its international arbitration claims against the Republic of Poland. The company has been awarded ...

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class=\"title\">\nGreenX wins $490m compensation claim as tribunal finds Poland breached treaties\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-09 10:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://smallcaps.com.au/greenx-wins-compensation-claim-tribunal-poland-breached-treaties/><strong>Small Caps</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>GreenX Metals (ASX: GRX) has achieved a positive financial outcome following the conclusion of its international arbitration claims against the Republic of Poland.\nThe company has been awarded ...</p>\n\n<a href=\"https://smallcaps.com.au/greenx-wins-compensation-claim-tribunal-poland-breached-treaties/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7095","symbol_name":"多种金属与采矿","start_time":0,"source_url":"https://smallcaps.com.au/greenx-wins-compensation-claim-tribunal-poland-breached-treaties/","article_id":"2474254961","we_media_id":null,"thumbnails":["https://cdn.shortpixel.ai/client/w_868,q_lossy,to_auto,ret_wait/https://150309019.v2.pressablecdn.com/wp-content/uploads/2024/10/GreenX-Metals-ASX-GRX-Poland-arbitration-win.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2474254961","pubTimestamp":1728442295,"sourceInfo":{"source_id":"smallcap_stock","name":"Small Caps"},"weMediaInfo":null,"summary":"GreenX Metals  has achieved a positive financial outcome following the conclusion of its international arbitration claims against the Republic of Poland.The company has been awarded approximately $490 million in compensation by an international tribunal over matters dating back to 2019 involving a dispute related to a resource project.GreenX secured compensation under both the Australia-Poland Bilateral Investment Treaty  and the Energy Charter Treaty .The dispute alleged that Poland had breached its obligations under the applicable treaties by blocking the development of GreenX’s Jan Karski and Dbieńsko projects, effectively depriving the company of the entire value of its investments in Poland.GreenX formally notified the Polish government of an investment dispute in February 2019 and the company served notices of arbitration in September of the following year.In its deliberations, the tribunal unanimously found that Poland had breached its obligations under the treaties concerning t","collect":0,"end_time":0,"defaultTopTitle":"smallcaps.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7095":"多种金属与采矿","BK7501":"新冠治疗股","BK7508":"医药生物股","BIT.AU":"BIOTRON LIMITED","BK7129":"钢铁","BIT":"BlackRock Multi-Sector Income Tr","ECT.AU":"Environmental Clean","BK7067":"生物科技","BK7047":"环境与设施服务","GRX.AU":"GreenX Metals Limited"},"translate_title":"法庭认定波兰违反条约，GreenX赢得4.9亿美元赔偿索赔","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BIT":1,"BIT.AU":1,"ECT.AU":1,"GRX.AU":1},"content_text":"GreenX Metals (ASX: GRX) has achieved a positive financial outcome following the conclusion of its international arbitration claims against the Republic of Poland.\nThe company has been awarded approximately $490 million in compensation by an international tribunal over matters dating back to 2019 involving a dispute related to a resource project.\nGreenX secured compensation under both the Australia-Poland Bilateral Investment Treaty (BIT) and the Energy Charter Treaty (ECT).\nObligations breached\nThe dispute alleged that Poland had breached its obligations under the applicable treaties by blocking the development of GreenX’s Jan Karski and Dębieńsko projects, effectively depriving the company of the entire value of its investments in Poland.\nGreenX formally notified the Polish government of an investment dispute in February 2019 and the company served notices of arbitration in September of the following year.\nIt then formally lodged its statement of claim in the BIT arbitration, including the first assessed claim for compensation, in June 2021.\nCompensation award\nIn its deliberations, the tribunal unanimously found that Poland had breached its obligations under the treaties concerning the Jan Karski project but did not uphold the claim regarding the Dębieńsko project.\nThe tribunal awarded the company approximately $490m under the BIT, including interest that will continue to accrue at +1% compounded annually until full and final payment is made by the respondent.\nWhile GreenX was also granted approximately $355m in compensation under the ECT, the company is not entitled to double compensation and will claim the higher amount.\nBinding decision\nThe claim was brought under the United Nations Commission on International Trade Law Rules (UNCITRAL) and the awards are final and binding on the parties.\nPoland has 28 days from the date of the BIT award and three months from receiving the ECT award to apply for a set-aside of the respective awards, which can only be granted under limited circumstances.\nEach party has been ordered to cover its own legal costs in relation to the claim, which in respect of GreenX have already been fully paid under a Litigation Capital Management funding facility.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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