You are here: Home Press Press releases New resolution from DAB give the reason to GUPC and force ACP to the Consortium five more that ACP originally established

New resolution from DAB give the reason to GUPC and force ACP to the Consortium five more that ACP originally established

The DAB (Dispute Adjudication Board), has ruled on the 31st of December in the evening on two new GUPC claims:  one claim related to additional public holiday and riots at the Atlantic side on 2012 and other about the national wide strike held in April and May 2014, forcing ACP to pay $ 17.5 million to the Consortium. This amount is five times more than ACP originally established for these claims.

This resolution from the DAB demonstrates, one more time, the lack of decision-making regarding the ACP payments to the consortium. On the claim about the additional public holidays and riots, ACP were willing to pay $ 495.000, but DAB has ruled in favor of GUPC and will force the ACP to pay for the same concept USD 6,207,000. 

In the case of the national wide strike on 2014, ACP recognized only USD 2,900,000 and DAB has also given reason to GUPC so ACP will have to pay USD 16.8 million, five times more than ACP stipulated. 

It is also important to know that the DAB reached 100% unanimous decision on the merit of the claims and that the amounts now granted were with majority 2 against 1. The minority DAB member considered GUPC should receive yet a higher amount.

This is the fifth decision of the DAB that gives reason to GUPC. Just one year ago, on 31 December 2014, the DAB established ACP had to pay to GUPC USD 234 millions.

As the contract reveals, it is ACP´s responsibility to take actions, in good faith, to solve any possible problem they could face. Yet, this delay to make decisions from ACP, negatively impacts the consortium economically. Nonetheless the group continues committed to the project, as it has been from the start.

 

Popular

Tag Cloud