The British Virgin Island High Court has reversed its decision of freezing the foreign assets of Pakistan International Airlines as a settlement in the Reko Diq case.
Attorney General for Pakistan Khalid Jawed Khan, in a statement on Tuesday, termed the decision a ‘great level victory for Pakistan’.
“Receiver removed from the Rosevelt Hotel in NY [New York], Scribe Hotel in Paris and cost of litigation is awarded,” said the statement.
The court dismissed the petition of Tethyan Copper Company (TCC) for implementation of its verdict of freezing of the PIA’s assets, including Rosevelt Hotel in New York and Scribe Hotel in Paris.
The reversal of the settlement verdict happened due to proper pleading of Pakistan’s case by the Attorney General’s office, the statement said.
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