The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law.
Permanent Court of Arbitration
A week ago, the Zambian Court of Appeal issued an order to halt the liquidation of the public limited company Konkola Copper Mines (“KCM”). The liquidation proceedings were attempted by State Owned Entity ZCCM Investments Holdings, a successor company to Zambia Consolidated Copper Mines Limited (ZCCM Ltd). Zambia is already defending an ICSID claim in the mining sector filed this summer by Kansanshi Mining Plc.
The traditional way of inserting finality clauses, which is usually crafted as “the decision of the Tribunal is final and binding” may not be useful to waive right to submit to the Bench for review. To sum up, according to the draft proclamation, arbitral awards are final but subject to review by the Bench unless expressly agreed to waive their right for review.