Tegeta Escrow: TANESCO yashindwa kesi dhidi ya IPTL. Yaamriwa kulipa zaidi ya Sh. Bilioni 320!

[Escrowseal1]

Msiumize vichwa maana naamini kabisa lie mahakama fulani ilianzishwa kwa issue Kama hizo Ngoja wajinoe kwanza

 

[Masiya]

Kama mnakumbuka katika ile kashfa ya ESCROW iliyokuwa ikishughulikiwa na Kamati ya Bunge ya Hesabu za Serikali enzi hizo ikiongozwa na Zitto na Marehemu Deo, waliibana Serikali kwa nini imeruhusu uchotaji wa fedha za Escrow kumlipa Harbinder Sing wa IPTL wakati mgogoro baina ya TANESCO/ IPTL na standard chartered bank Hong Kong ulikuwa haujamalizika.

Sasa Katika hukumu ya mahakama ya usuluhishi Benki hiyo imeshinda na TANESCO wanatakiwa kulipa zaidi ya bilioni 300. Fedha za Escrow akaunti zimeshatoka na kalipwa Sing na mafisadi wengine serikalini. Serikali ilipuuza Bunge leo mtanzania ndiye ataumia kwa kuongezewa gharama za umeme ili kulipa déni hilo.

Na la kuchekesha zaidi, Serikali ya awamu ya tano inamuogopa sing na wanaendelea kumlipa kila mwezi huku aliwaibia fedha za ESCROW. Mapambano ya ufisadi yamekuwa selective kwa kulipa visasi kwa watu badala ya kupambana na mifumo ya kifisadi kama ya IPTL.

Wandugu mbona mimi sielewi, wakuu walisema ile sio hela ya UMMA ni hela ya watu binafsi na wenyewe wamelipwa (Singh and Company). Sasa mbona hapa inaonekana waliolipwa sio na hawakustahili. Sasa ikidaiwa Tanesco ni wazi ile hela ilikuwa ya UMMA au mimi sijui?????? Hebu tukumbushane walio ridhia jamaa walipwe ni wakina nani na je hawa si ndio wamezidi kutuingiza mkenge? Wamelipa hela ya Escrow na sasa Tanesco lazima walipe deni la SCB-HK. Je jamaa watarudisha change yetu? Je walio-ridhia malipo watawajibishwa? Inaelekea ile hela haikuwa yao ndio maaana watu wamegawana bila uchungu? Na uliza tu sio nia yangu kuleta uchochezi. Ngoja ninyamaze hapa.

 

[Hercule Poirot]

Mmesahau au......

 

[Ukback255]

Alafu akiwahoji?

 

[Ukback255]

IPTL inaonyesha kwa Mara ya kwanza iliingia nchini mwaka 1994 wakati huo Rais akiwa Mwinyi!!
Ikaendelea kwa mkapa ingawa imekuja kuanza kuwa Kansa ndani ya utawala wa kikwete!!

Walionyuma ya IPTL ni watu wengi sana ila nashauri Rais magufuli angewaoji
Marais wastaafu kwanza
Mawaziri wakuu waliopita
Mawaziri wa nishati waliopita
Mawaziri wa fedha waliopita
Wanasheria wakuu wa Serikali waliopita!!
Na magavana wa benki kuu waliopita !!

Bila kufukua makaburi tutaendelea kusubiri sana!!
Hii kitu inaonyesha kikwete alikuwa waziri wa nisharti mwaka 1994 na hapo ndipo tuanzie!!

Mkuu haya mambo ni magumu sana !!

 

[Loeli]

Aiseeeeeeeeee madeni mpaka tutaachiwa vilembwe na vilembwekeze!!! Hivi huwa ninajiuliza Tanzania ina kitengo cha sheria au ofisi ya Mwanasheria yenye wataalam wabobevu wa mikataba ya kimataifa? Hivi wanasoma wafanya biashara wale ambao ni wezi wa kimataifa na kuwajua kwa undani na mikataba yao?

 

[technically]

Alafu akiwahoji?

Tupate ukweli wa nini kinaendelea nyuma ya pazia !!

 

[Masiya]

Mnatamani sana Serikali ipandishe bei ya umeme ili muwe na ajenda majukwaani. Mmeula wa chuya. Hilo halitarokea kwa utawala wa Rais Magufuli

Wapandishe au wasipandishe bei ya umeme bado Tanesco-shirika la umma linatakiwa kulipa hiyo fweza na juu ya hapo ile ya escrow ambayo ingeenda kulipia deni hili (correct me if I am wrong) ndio wajanja wameshalipwa ("The funds held in the escrow account that should have been available to satisfy TANESCO's payment obligations to IPTL under the PPA (power purchase agreement) have therefore been paid to two Tanzanian parties - VIP and PAP - neither of whom made any financial contribution to the construction of the facility," it adds).

 

[jozee2]

Na bado walijifany hawaelewi kale kamstar ka ccm ni ileile

Mm nabaki naaangalia zile push ups katka level za MTU kama yeye zilikuwa zinamaaana gani paka sasa? Na ndyo maaaana sishangai haya yanayotokea sasa kwan push up anyone can do then because if that he was selected..... Push up why was push up

 

[IROKOS]

Mnatamani sana Serikali ipandishe bei ya umeme ili muwe na ajenda majukwaani. Mmeula wa chuya. Hilo halitarokea kwa utawala wa Rais Magufuli

Jiandae kulipa hizo 300 plus billions kwanza acha hadithi...

Mkuu sijui atakuja na lipi maana kesha sema hajaribiwi na watu wanaendelea kumjaribu, kuna mwingine alisema anadai akaambiwa halipwi ng'oo, waache kumsumbua "hapa kazi tu" sio madai tu.

 

[Azim Sokoine]

mimi nahama nchi..hii nchi imelaniwa kwa kweli

 

[Masiya]

...nashukuru kwa hii ruling..sasa waliolipa ule mzigo wa escrow warudisheee....maana imedhihirika pesa ililipwa kwa makosa....na ndiyo inadaiwa sasa....pesa waliyolipwa PAP na VIP kisanii ilikuwa makosa makubwa....maana hawakuwa sehemu ya mkataba/makubaliano ya kufungua escrow account....

....tulipiga sana kelele kipindi kile...sasa ruling imetoka....pesa za escrow waliobebeshwa warudisheeeeee.....

Sio waliobebeshwa tu, na walio-idhinisha malipo na waliodanganya kuwa ile hela ni hela binafsi haituhusu wawajibishwe unless kama hao arbitrators wamekosea ingawa sidhani hivyo.

 

[Ebale]

LABDA NISAIDIE MAELEZO HAYA CHINI
ESCROW account ni akaunt ambayo hufunguliwa ili kuweka pesa za mdaiwa wakati kuna mgogoro na mwenake katika biashara juu ya kiasi gani anatakiwa alipe, ili mdai asiondoe huduma yake!. TANESCO na IPTL walikuwa na mgogoro wa capacity charge. Tegeta Escrow ACCOUNT ILIFUNGULIWA ILI CHARGES ZA TANESCO kwa kupewa umeme na IPTL ziwekwe kwenye account hiyo hadi hapo mgogoro wao utakapomalizika mahakamani. Kama mahakama itashusha capacity charge basi IPTL ichukue chake na TANESCO wabaki na kile cha juu! hili lilitegemea maamuzi ya MAHAKAMA ISCID. So ni hadi hapo mahakama ikisema correct charge ni sio shs 10 bali ni shs 8 basi hizo shs 2 ndo zitakuwa za umma na shs 8 za mdai!

Come to the real issue now, tatizo ni pia Mahakama zinaichanganya TANESCO- Mahakama yetu iliipa PAP UMILIKI baada ya kuwa imemalizazana na Rugemarila kuwa ndo mmiliki halali wa IPTL, Bahati mbaya TANESCO wakawa washailipa PAP pesa yote bila hata kusubiri kesi yao walioshinda kwenye capacity charge.
Leo hii ICSID ime rule out kuwa mmilikiwa IPTL ni standard SBC-HK. Mambo ya nani mmiliki wa IPTL hayaihusu TANESCO.Hata TANESCO ilipoilipa PAP ilitaka assuarance kuwa PAP italipa kwakuwa mgogoro wa umiliki hauwahusu wao,
"Gavana, akaenda mbali zaidi ili fedha zisije daiwa au potea tu..kuona hizi fedha zisije potea bure, aliomba uhakikisho na assurance ya mwisho, kuwa je IKITOKEA MTU KAJA KUDAI HIZO FEDHA itakuwaje..!? Ndio PAP akatoa guarantee, kuwa yeye ndio yuko responsible na atalipa...!! JK
Naona Makosa makubwa ya TANESCO ni mawili. i kuwahi kulipipa PAP kabla hata ya kusubiri hukumu juu ya capacity charge na la pili ii. Kutosubiria mgogoro wa umiliki wa IPTL iliijue exactly inamlipa mmiliki halali
Haya mambo mengine ni siasa tu! JK angekuwa ana interest humo kwanini amtake gavana kuhakikisha TANESCO hailipi mara mbili?

 

[IROKOS]

Kwa nn watu hatuna uzalendo kazi kuombea mabaya tu serikali why,inawezekana kabisa nyie mnaoombea mabaya hata familia zenu huwa mwaziombea mabaya iweni na uzalendo

.. Hivi uko safarini njiani unamkuta mtu anakuambia njia hiyo usipite kuna simba, wewe kwa ukichwa ngumu wako na pia kujali tumbo lako (mana njia unalazimisha ina chakula) ukapita na Hamadi Simba akafanya yake utaanza kumlaumu tena aliyekuasa kweli? Mtamkumbuka sana yule kijana Kafulila...

 

[Ebale]

...nashukuru kwa hii ruling..sasa waliolipa ule mzigo wa escrow warudisheee....maana imedhihirika pesa ililipwa kwa makosa....na ndiyo inadaiwa sasa....pesa waliyolipwa PAP na VIP kisanii ilikuwa makosa makubwa....maana hawakuwa sehemu ya mkataba/makubaliano ya kufungua escrow account....

....tulipiga sana kelele kipindi kile...sasa ruling imetoka....pesa za escrow waliobebeshwa warudisheeeeee.....

ESCROW account ni akaunt ambayo hufunguliwa ili kuweka pesa za mdaiwa wakati kuna mgogoro na mwenake katika biashara juu ya kiasi gani anatakiwa alipe, ili mdai asiondoe huduma yake!. TANESCO na IPTL walikuwa na mgogoro wa capacity charge. Tegeta Escrow ACCOUNT ILIFUNGULIWA ILI CHARGES ZA TANESCO kwa kupewa umeme na IPTL ziwekwe kwenye account hiyo hadi hapo mgogoro wao utakapomalizika mahakamani. Kama mahakama itashusha capacity charge basi IPTL ichukue chake na TANESCO wabaki na kile cha juu! hili lilitegemea maamuzi ya MAHAKAMA ISCID. So ni hadi hapo mahakama ikisema correct charge ni sio shs 10 bali ni shs 8 basi hizo shs 2 ndo zitakuwa za umma na shs 8 za mdai!

Come to the real issue now, tatizo ni pia Mahakama zinaichanganya TANESCO- Mahakama yetu iliipa PAP UMILIKI baada ya kuwa imemalizazana na Rugemarila kuwa ndo mmiliki halali wa IPTL, Bahati mbaya TANESCO wakawa washailipa PAP pesa yote bila hata kusubiri kesi yao walioshinda kwenye capacity charge.
Leo hii ICSID ime rule out kuwa mmilikiwa IPTL ni standard SBC-HK. Mambo ya nani mmiliki wa IPTL hayaihusu TANESCO.Hata TANESCO ilipoilipa PAP ilitaka assuarance kuwa PAP italipa kwakuwa mgogoro wa umiliki hauwahusu wao,
"Gavana, akaenda mbali zaidi ili fedha zisije daiwa au potea tu..kuona hizi fedha zisije potea bure, aliomba uhakikisho na assurance ya mwisho, kuwa je IKITOKEA MTU KAJA KUDAI HIZO FEDHA itakuwaje..!? Ndio PAP akatoa guarantee, kuwa yeye ndio yuko responsible na atalipa...!! JK
Naona Makosa makubwa ya TANESCO ni mawili. i kuwahi kulipipa PAP kabla hata ya kusubiri hukumu juu ya capacity charge na la pili ii. Kutosubiria mgogoro wa umiliki wa IPTL iliijue exactly inamlipa mmiliki halali
Haya mambo mengine ni siasa tu! JK angekuwa ana interest humo kwanini amtake gavana kuhakikisha TANESCO hailipi mara mbili?

 

[Norbert Norbert]

Wale wazee wa 'vijesenti vya ugoro' na 'pesa ya mboga' ndio wakalipe.., sio kutiana umasikini namna hii

kibaya ni kwamba wananchi ndio watakaoumizwa huku wao wakiendelea kununua mboga kwa bil 1.5

 

[The Palm Tree]

Shirika la umeme Tanzania (TANESCO) limeshindwa kwenye kesi yake IPTL -Independent Power Tanzania Limited.

Hukumu hiyo imefikiwa mwisho wa wiki iliyopita ambapo World Bank tribunal (international centre for settlement of investment disputes.

ICSID imeamuru TANESCO kuilipa Standard Chartered Bank Hong Kong (SCB HK) kiasi cha dola za kimarekani milioni 148.40 pamoja na tozo riba.

SCB HK ndio walionunua mkopo wa IPTL kutoka bank ya Malaysia Danaharta kwa gharama ya dola za kimarekani milioni 76.1

Kwa habari zaidi soma the Guardian la leo:

==========

TANESCO ordered to pay $148m over IPTL dispute


Washington-based tribunal rules in favour of Standard Chartered Bank, saying dubious payments made from the Tegeta escrow account to businessman Harbinder Singh Sethi do not discharge TANESCO's obligations to the bank


By Guardian Reporter

THE Tanzania Electric Supply Company Limited (TANESCO) has suffered a massive blow in its protracted legal dispute with Independent Power Tanzania Limited (IPTL) after a World Bank tribunal last week ordered the state-owned power utility to pay Standard Chartered Bank-Hong Kong (SCB-HK) $148.4 million (over 320 billion shillings) plus interest in outstanding capacity charges.

The ruling comes nearly three years since the government controversially authorised payments of over $200 million (440 billion/-) from TANESCO-IPTL’s Tegeta escrow account to businessman Harbinder Singh Sethi’s Pan Africa Power Solutions Tanzania Limited (PAP).

This was after SCB-HK purchased the IPTL loan at a discount price of $76.1 million from Malaysia’sDanaharta Bankin August 2005, following the latter’s failure to secure its outstanding loan from IPTL.

The actual face value of the debt was $101.7 million, according to available evidence. IPTL borrowed over $100 million in 1998 from a consortium of Malaysian banks in order to finance construction of its 100-megawatt Tegeta power generating plant.

Under that transaction, SCB-HK was assigned a number of contracts, including the 1997 Security Deed, the Implementation Agreement and the Guarantee Agreement concluded between IPTL and the Tanzanian government. The available details show that SCB-HK also became the Security Agent under the Share Pledge Agreement and the Shareholder Support Deed.

Part of the agreement said: “As Security Agent, SCB HK holds all of IPTL’s ‘right, title and interest in and to the Assigned Contracts, including all moneys which may at any time be or become payable to the Borrower.'"

TANESCO had earlier taken its dispute with IPTL to the World Bank-affiliated International Centre for Settlement of Investment Disputes (ICSID) for arbitration after the state-owned power utility discovered that it was being overcharged in both capacity and energy charges.

Following this move, both parties agreed as stipulated in their 1996 Power Purchase Agreement (PPA) to establish an escrow account with the Bank of Tanzania (BoT), to be used to deposit all payments pending the outcome of the arbitration.

But a few months before ICSID issued its ruling, the government controversially (and secretly?) paid all the escrow money to PAP after the company claimed that it had acquired full 100 per cent ownership of IPTL in September 2013.

The Washington-based ICSID ruled in favour of TANESCO in February 2014, ordering a tariff recalculation so that finally the escrow money could be paid to either IPTL or the power utility firm, only to then be informed that a third party (PAP) had already been paid everything.

SCB-HK took TANESCO to the ICSID after it realised that the money in the escrow account has been paid to PAP at a time when there was still another pending case over the tariff dispute.

The bank was demanding outstanding payments to clear a loan taken by IPTL’s initial owners to set up the electricity generating turbines.

The Hong Kong-based bank took over control of IPTL after the company failed to pay its loan in 2008, and has since then been fighting to recover the debt.

And after more than five years of rigorous legal proceedings, ICSID judges have now finally ruled in favour of the bank.

"The tribunal orders that TANESCO pay to SCB-HK (Standard Chartered Bank Hong Kong) the amount of $148.4 million with simple interest at three month LIBOR (London Interbank Offered Rate) plus 4 per cent from September 30, 2015 until the date of this award," ICSID said in its latest ruling.

"Interest shall continue at the same rate until full payment is received," the ruling added.

DUBIOUS ESCROW ACCOUNT PAYMENTS

ICSID also ruled that payments made by the government from the infamous Tegeta Escrow Account "did not discharge TANESCO's obligations under the power purchase agreement (PPA) and thus cannot be used to reduce the amount that TANESCO owes SCB HK."

TANESCO paid more than $120 million from the IPTL Tegeta Escrow Account to Pan African Power Solutions (PAP)under dubious circumstancesin 2013.

The escrow account payments triggered a major national corruption scandal which ultimately led to the resignations of at least three senior ministers in then president JakayaKikwete's government.

A number of other senior government officials were also charged with corruption at the Kisuturesident magistrate's court over the IPTL escrow account scam.

Lawyers representing Standard Chartered Bank at the arbitration accused TANESCO of misleading the ICSID tribunal judges by concealing facts about the payments made from the escrow account to PAP.

"SCB-HK understands that PAP used $75 million of the funds obtained from the escrow account to pay VIP Engineering and Marketing Limited (owned by Tanzanian businessman James Rugemalira) for its 30 per cent shareholding in IPTL," says part of the 100-page ruling.

"The funds held in the escrow account that should have been available to satisfy TANESCO's payment obligations to IPTL under the PPA (power purchase agreement) have therefore been paid to two Tanzanian parties - VIP and PAP - neither of whom made any financial contribution to the construction of the facility," it adds.

The ruling seen by The Guardian was dispatched to the parties involved in the arbitration - Standard Chartered Bank and TANESCO - on September 12 this year.

The ICSID is part of the World Bank Group and is funded by the Bretton Woods institution. It is headquartered in Washington, DC, in the United States.

An ICSID award is binding on all parties to the proceeding and each party must comply with it.

If a party fails to comply with the award, the other party can seek to have the pecuniary obligations recognised and enforced in the courts of any ICSID member state as though it were a final judgment of that state’s courts.

Members of the tribunal that issued the award in favour of Stanchartwere Prof Donald McRae (president), Prof Zachary Douglas (arbitrator), and Prof Brigitte Stern (arbitrator).

In the arbitration process, the bank was represented by a team of lawyers from two London-based law firms - Herbert Smith Freehills LLP and Linklaters LLP.

TANESCO was represented by a team of lawyers from Tanzanian-based law firms R.K. Rweyongeza & Co. Advocates and Crax Law Partners, and a Zurich-based law firm Kellerhals Carrard.

Habari hii imesomwa pia kwenye kipindi cha JAMII LEO..

Kumbe ndiyo maana kuna mgawo wa umeme umezuka ghafla ndani ya wiki mbili zilizopita ambao hata hauna maelezo!!

Duuh, Ngosha naye kanaswa ktk jinamizi la Ufisadi ambalo wenzake wamemwachia.

Na mara nyingi tumesema hapa kuwa jamani CCM hii ni ile ile na kamwe haijabadilika bali zilizobadilika ni sura zikatoka za kale zikaingia mpya zenye uchu wa kula na kufisadi upya!!

Chini ya hawa ndo hatari zaidi na watanzania tukae mkao wa kupigwa kisawasawa!!

Shirika la umeme Tanzania (TANESCO) limeshindwa kwenye kesi yake IPTL -Independent Power Tanzania Limited.

Hukumu hiyo imefikiwa mwisho wa wiki iliyopita ambapo World Bank tribunal (international centre for settlement of investment disputes.

ICSID imeamuru TANESCO kuilipa Standard Chartered Bank Hong Kong (SCB HK) kiasi cha dola za kimarekani milioni 148.40 pamoja na tozo riba.

SCB HK ndio walionunua mkopo wa IPTL kutoka bank ya Malaysia Danaharta kwa gharama ya dola za kimarekani milioni 76.1

Kwa habari zaidi soma the Guardian la leo:

==========

TANESCO ordered to pay $148m over IPTL dispute


Washington-based tribunal rules in favour of Standard Chartered Bank, saying dubious payments made from the Tegeta escrow account to businessman Harbinder Singh Sethi do not discharge TANESCO's obligations to the bank


By Guardian Reporter

THE Tanzania Electric Supply Company Limited (TANESCO) has suffered a massive blow in its protracted legal dispute with Independent Power Tanzania Limited (IPTL) after a World Bank tribunal last week ordered the state-owned power utility to pay Standard Chartered Bank-Hong Kong (SCB-HK) $148.4 million (over 320 billion shillings) plus interest in outstanding capacity charges.

The ruling comes nearly three years since the government controversially authorised payments of over $200 million (440 billion/-) from TANESCO-IPTL’s Tegeta escrow account to businessman Harbinder Singh Sethi’s Pan Africa Power Solutions Tanzania Limited (PAP).

This was after SCB-HK purchased the IPTL loan at a discount price of $76.1 million from Malaysia’sDanaharta Bankin August 2005, following the latter’s failure to secure its outstanding loan from IPTL.

The actual face value of the debt was $101.7 million, according to available evidence. IPTL borrowed over $100 million in 1998 from a consortium of Malaysian banks in order to finance construction of its 100-megawatt Tegeta power generating plant.

Under that transaction, SCB-HK was assigned a number of contracts, including the 1997 Security Deed, the Implementation Agreement and the Guarantee Agreement concluded between IPTL and the Tanzanian government. The available details show that SCB-HK also became the Security Agent under the Share Pledge Agreement and the Shareholder Support Deed.

Part of the agreement said: “As Security Agent, SCB HK holds all of IPTL’s ‘right, title and interest in and to the Assigned Contracts, including all moneys which may at any time be or become payable to the Borrower.'"

TANESCO had earlier taken its dispute with IPTL to the World Bank-affiliated International Centre for Settlement of Investment Disputes (ICSID) for arbitration after the state-owned power utility discovered that it was being overcharged in both capacity and energy charges.

Following this move, both parties agreed as stipulated in their 1996 Power Purchase Agreement (PPA) to establish an escrow account with the Bank of Tanzania (BoT), to be used to deposit all payments pending the outcome of the arbitration.

But a few months before ICSID issued its ruling, the government controversially (and secretly?) paid all the escrow money to PAP after the company claimed that it had acquired full 100 per cent ownership of IPTL in September 2013.

The Washington-based ICSID ruled in favour of TANESCO in February 2014, ordering a tariff recalculation so that finally the escrow money could be paid to either IPTL or the power utility firm, only to then be informed that a third party (PAP) had already been paid everything.

SCB-HK took TANESCO to the ICSID after it realised that the money in the escrow account has been paid to PAP at a time when there was still another pending case over the tariff dispute.

The bank was demanding outstanding payments to clear a loan taken by IPTL’s initial owners to set up the electricity generating turbines.

The Hong Kong-based bank took over control of IPTL after the company failed to pay its loan in 2008, and has since then been fighting to recover the debt.

And after more than five years of rigorous legal proceedings, ICSID judges have now finally ruled in favour of the bank.

"The tribunal orders that TANESCO pay to SCB-HK (Standard Chartered Bank Hong Kong) the amount of $148.4 million with simple interest at three month LIBOR (London Interbank Offered Rate) plus 4 per cent from September 30, 2015 until the date of this award," ICSID said in its latest ruling.

"Interest shall continue at the same rate until full payment is received," the ruling added.

DUBIOUS ESCROW ACCOUNT PAYMENTS

ICSID also ruled that payments made by the government from the infamous Tegeta Escrow Account "did not discharge TANESCO's obligations under the power purchase agreement (PPA) and thus cannot be used to reduce the amount that TANESCO owes SCB HK."

TANESCO paid more than $120 million from the IPTL Tegeta Escrow Account to Pan African Power Solutions (PAP)under dubious circumstancesin 2013.

The escrow account payments triggered a major national corruption scandal which ultimately led to the resignations of at least three senior ministers in then president JakayaKikwete's government.

A number of other senior government officials were also charged with corruption at the Kisuturesident magistrate's court over the IPTL escrow account scam.

Lawyers representing Standard Chartered Bank at the arbitration accused TANESCO of misleading the ICSID tribunal judges by concealing facts about the payments made from the escrow account to PAP.

"SCB-HK understands that PAP used $75 million of the funds obtained from the escrow account to pay VIP Engineering and Marketing Limited (owned by Tanzanian businessman James Rugemalira) for its 30 per cent shareholding in IPTL," says part of the 100-page ruling.

"The funds held in the escrow account that should have been available to satisfy TANESCO's payment obligations to IPTL under the PPA (power purchase agreement) have therefore been paid to two Tanzanian parties - VIP and PAP - neither of whom made any financial contribution to the construction of the facility," it adds.

The ruling seen by The Guardian was dispatched to the parties involved in the arbitration - Standard Chartered Bank and TANESCO - on September 12 this year.

The ICSID is part of the World Bank Group and is funded by the Bretton Woods institution. It is headquartered in Washington, DC, in the United States.

An ICSID award is binding on all parties to the proceeding and each party must comply with it.

If a party fails to comply with the award, the other party can seek to have the pecuniary obligations recognised and enforced in the courts of any ICSID member state as though it were a final judgment of that state’s courts.

Members of the tribunal that issued the award in favour of Stanchartwere Prof Donald McRae (president), Prof Zachary Douglas (arbitrator), and Prof Brigitte Stern (arbitrator).

In the arbitration process, the bank was represented by a team of lawyers from two London-based law firms - Herbert Smith Freehills LLP and Linklaters LLP.

TANESCO was represented by a team of lawyers from Tanzanian-based law firms R.K. Rweyongeza & Co. Advocates and Crax Law Partners, and a Zurich-based law firm Kellerhals Carrard.

Habari hii imesomwa pia kwenye kipindi cha JAMII LEO..

 

[Emma.]

Wahusika wengi kwenye hili dili ni viongozi waandamizi ndani serikali ya CCM. Hizo pesa zimeshaliwa hilo deni tutalipa sisi kwenye kodi zetu. Tanzania ya viwanda inakuja. ...............

 

[Jile79]

Mliambiwa mtaisoma namba..............

 

[peterwapeter]

Dawa ni kukataa kulipa tu kwani sheria kitu gani, masheria watunge wao yatuumize sisi