- May 28, 2021
- Posted by: Umair Farooq
- Category: News & Events
The High Court of Justice ruled in favor of Pakistan for the attachment of assets of PIAL
Pakistan has won the British Virgin Islands case filed by Tethyan Copper Company (TCC). In July 2019 TCC filed the case against Pakistan International Airlines for 5.97 Billion Dollars.
Attorney General for Pakistan Khalid Jawed Khan while addressing the press stated that it is a great legal victory for Pakistan International Airlines and Pakistan itself.
BVI High Court removed the receiver appointed at Roosevelt Hotel, New York, and Scribe Hotel Paris. Litigation cost was also awarded to Pakistan International Airlines Investment ltd. (PIAIL)
In December 2020 BVI High court froze the assets of PIAIL including Hotels in New York, Manhattan, and Paris. BVI High Court also appointed a receiver on an interim basis.
This great victory will not only help PIAIL to get assets back but it will also help Pakistan to stand by its strong stance.