Singapore and Indonesia signed an agreement to promote and protect investments, with the treaty promising Singapore companies operating in Indonesia protection and access to international arbitration in the event of investment disputes.
Churchill Mining has confirmed that the stay on enforcement of the East Kutai Coal Project Award will continue pending a decision on the Annulment Application.
Churchill filed an annulment application after an ICSID Tribunal granted Indonesia’s application to dismiss the company’s claims for damages following the revocation of mining licences.