Zenith Energy Announces Court Decision in ICSID Arbitration against the Republic of Tunisia

Source: www.gulfoilandgas.com 12/27/2024, Location: Africa

Zenith Energy Ltd. ("Zenith") (LSE: ZEN; OSE: ZENA; OTC PINK: ZENAF), the listed international energy production and development company, is pleased to announce that it has now received the latest decision of the Arbitral Tribunal of the International Centre for Settlement of Investment Disputes ("ICSID") arbitration against the Republic of Tunisia held in Washington, D.C. (the "ICSID Arbitration") initiated by the Company's fully owned subsidiaries, Zenith Energy Africa Ltd. (British), Zenith Overseas Assets Ltd. (British), Compagnie du Désert Ltd. (British) (collectively, "Claimants") against the Republic of Tunisia as Respondent (the "Respondent").

Zenith's legal counsel in the ICSID Arbitration is Clay Arbitration and Charles Russell Speechlys (Paris), the same legal team that advised the Company in connection with the successful ICC-1 Arbitration.

This language of the ICSID Arbitration is French. The ICSID, in French language, is named 'Centre Internationale pour le Réglement des Differents relatifs aux investissements ("CIRDI") and is registered under No. ARB/23/18.





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