Gabriel Resources (TSE:GBU) has released an update.
Gabriel Resources Ltd. has lodged an application to annul a recent ICSID award that dismissed its claims against Romania and ordered the company to pay US$10 million in costs. The company contends that the ICSID tribunal’s decision was marred by lack of impartiality, failure to follow proper legal procedures, and inadequate reasoning. Gabriel Resources is seeking a new hearing by an ad hoc Committee, citing potential conflicts of interest within ICSID.
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