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

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

jerrytz said:
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:

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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.

ICSID ruled that each party should bear its own legal fees and expenses.
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OUR FORMER PRESIDENT WHO IS NOW ENJOYING HIS RETIREMENT FINANCED BY TAX PAYERS SHOULD TAKE RESPONSIBLE. THIS IS COMPLETELY ABUSE OF POWER. HE CAME OUT AND TOLD TANZANIANS THE MONEY IN ESCROW ACCOUNT DID NOT BELONG TO THE GOVERNMENT AFTER ALL. HE TOOK HIS TIME TO TAKE ACTION AGAINST THE CULPRIT UNTIL DONNER COUNTRY THREATEN TO WITHDRAW AID. NOW CHENGE AND ALL THE PEOPLE WHO BENEFITED FROM ESCROW ACCOUNT SHOULD BE ASHAMED THAT NOW IT IS KNOWN IT WAS COMPLETELY THEFT. THE MONEY THEY TOOK POOR TANZANIAN ARE GOING TO PAY. THESE PEOPLE MUST BE TAKEN TO COURT AND ANSWER THE CHARGES. WE KNOW THEY WILL HIRE SEVERAL LAWYERS TO DEFENT THEIR ACTION, BUT TANZANIAN WILL ASK GOD TO DEFENT THEM.

TANZANIANS HAVE SUFFERED THROUGH BAD LEADERSHIP, LEADERS STEALING PUBLIC FUNDS WHILE WE ARE WATCHING HELPLESS AND PREVIOUS GOVERNMENT FAILED THE PEOPLE FOR FAILING TO TAKE ACTION. FOR NOW WE ARE SAFE WITH PRESIDENT MAGUFULI AS HE HAS SHOWN HE IS NOT A SELFISH LEADER, BUT WE ASK HIM BEFORE HE LIVES OFFICE TO HELP TANZANIANS TO GET NEW CONSTITUTION TO GIVE POWER TO TANZANIAN TO TAKE ANY LEADER INCLUDING THE PRESIDENT TO COURT FOR MISMANAGING OF OUR ECONOMY.

CORRUPTION IS A CRIME AGAINST HUMANITY. CORRUPTION KILLS MILLION OF AFRICANS EVERY YEAR MORE THAN ANYTHING ELSE. CORRUPTION IS A COURSE OF WAR IN AFRICA. CORRUPTION IS INJUSTICE, IT DEPRIVE THE CITIZENS. THE EYES ARE ON PRESIDENT MAGUFULI, TO TAKE ON THE CARTEL WHO ARE MAKING THE MAJORITY OF TANZANIANS POOR.
 
Polycarp Isaya Urio said:
Ndiyo hivyo sasa mdau hiyo pesa inaenda kwa wajanja wenye uchungu na nchi yao wakafaidi,tuliachia nyani shamba na sasa tunavuna mabua.Hawa wataalam wetu wa mikataba sijui hata walikua wapi mikataba kandamizi km huu unafanyika?
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Nchi yetu watu wanasoma kama wanakalili mistari ya diamond ndo matokeo yake wakikutana na vichwa vilivyoingia chimbo kwenye mikataba na kwenye kesi lugha yenyewe ni utata kama hatujaondoa mwendo kasi tutaisoma tu
 
Mimi nashindwa kuelewa hii company ya fisadi Mkono ya MKONO ADVOCATE CO. L.T.D kazi yake ni nini na huwa inashindwa kila Tanesco ikiburutwa mahakamani.
 
am getting mad..!!
COPY:
1: JeyKey
2: PAP
3: Rugemarila, VIP Engineering
4: Pro. Muhongo
5: Prof. Benno Ndullu
6: Waziri Mpango..!!

My suggestions and decisions:
1: KAMATENI HARAKA SANA Kalasinga tapeli, Seth..!! PAP..!! Awe chini ya ulinzi tokea sasa hv..!! haraka sana
2: Kamateni, IPTL & freeze its assets, iwe chini ya Serikali, haraka sana..!!
3: Mali zote, duniani za PAP, mkalasinga tapeli, zikamatwe, ili kufidia huu utapeli mkubwaa..!!
4: 300 mil zinazolipwa IPTL kila siku..!! narudia malipo ya kila siku ya IPTL yasimamishwe mara moja, na kuiteka IPTL sasa hv... na kuwa chini ya serikali haraka sana...!!
5: Kalasinga PAP, ashitakiwe haraka sana hapa nchini kwa kuua uchumi na uhujumi uchumi wa nchi, kuibia Taifa kupitia IPTL, ESCROW... na asipewe dhamana hata kidogo.. hata kidogo.. huyu ni muuaji.. jambazi, fisadi la mafisadi...!!

National Interests should come FIRST to rescue our nation from this biggest theft in CENTURY...!!
Tanzania tuseme sasa basi.. Taifa kwanza sasa...!!
 
Salary Slip said:
Nakumbuka gavana aliweka shariti la PAP kulipa gharama zozote zitakazoibuka kabla ya kuruhusu hela zile kutolewa na PAP walikubali sasa naishindwa kuelewa iweje leo TANESCO ndio wadaiwe au ulikuwa ni usanii tu na kutuhadaa watanzania?

Au baada ya hukumu hiyo ndio sasa Serikali /TANESCO wambane PAP alipe gharama hizo?
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Kuna siku tutegemee kisikia TANESCO sio serikali, kama ambavyo pesa ya ESCROW haikua ya uma.
 
GBBali said:
Vp huu mkataba ni wa Tibaijuka. Uelewa?[/QUOT
Ufumbuzi wa kudumu; kwakuwa dawa ya deni ni kulipa, basi zipigwe hesabu kwa idadi ya watanzania ambao wanaostahiki kuweza kuchangia kulipa, deni ligawanywe kila mtanzania alipe sehemu yake, tuondokane na hilo tatizo.
Vinginevyo tusije kulazimishwa kufidia kwa wadai kuchukuwa kisiwa cha Mafia km fidia yao, tutakuwa tumepoteza
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Denis denny said:
Kwahiyo hapo sisi watumiaji ndo imekula kwetu nchi hii ina mambo ya kijinga sana na hili shirika sijui kwanini wanashindwa kulipa mshindani wake kama ilivyo mitandao ya simu mana lingeshajifia siku nyingi huduma mbovu ila maingizo yao makubwa
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Ni mgodi wa watu ndio maana hawataki kubinafsisha.Tusubiri kashfa nyingine kbl ya 2020.
 
Jay One said:
am getting mad..!!
COPY:
1: JeyKey
2: PAP
3: Rugemarila, VIP Engineering
4: Pro. Muhongo
5: Prof. Benno Ndullu
6: Waziri Mpango..!!

My suggestions and decisions:
1: KAMATENI HARAKA SANA Kalasinga tapeli, Sigh..!! PAP..!! Awe chini ya ulinzi tokea sasa hv..!! haraka sana
2: Kamateni, IPTL & freeze its assets, iwe chini ya Serikali, haraka sana..!!
3: Mali zote, duniani za PAP, mkalasinga tapeli, zikamatwe, ili kufidia huu utapeli mkubwaa..!!
4: 200 mil zinazolipwa IPTL kila siku..!! narudia malipo ya kila siku ya IPTL yasimamishwe mara moja, na kuiteka IPTL sasa hv... na kuwa chini ya serikali haraka sana...!!
5: Kalasinga PAP, ashitakiwe haraka sana hapa nchini kwa kuua uchumi na uhujumi uchumi wa nchi, kuibia Taifa kupitia IPTL, ESCROW... na asipewe dhamana hata kidogo.. hata kidogo.. huyu ni muuaji.. jambazi, fisadi la mafisadi...!!

National Interests should come FIRST to rescue our nation from this biggest theft in CENTURY...!!
Tanzania tuseme sasa basi.. Taifa kwanza sasa...!!
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I AM SHOCKED SINA LA KUSEMA. KIKWETE JAMANI SIMAMA UWAELEZEA WATANZANIA VITUKO VYA SERIKALI YAKO. UONGOZI WAKO UMEUWA WENGI.
 
Jay One said:
Nooooo... noooooo...omg..!!

Nooo, nooo over my dead body... Nooo... noooo...!!

Hapanaaaaaa... hatulipiiiiiii, hakunaaaaaaa... jamaniiii, sasa basi... Mh. Rais Magufuli, hili na uhakika kufa na kupona, na sbb nampenda sanaaa mh. Rais kwa uzalendo wa 10000% juu ya nchi yetu, hili atakataaaa...!! Tusiwe tunaibiwa hivi na wazunguuuu..!

I feel pain, naumiaaaa, moyo unaniumaaa, i feel pain & very angry..!! Naumiaa, tutaibiwa hadi liniiiii....? naumia, naumia, nchi yangu Tz utaibiwa hadi liniiii...? naumia, naumia...!!

Mh. Rais wangu Magufuli, hili kataaaa, kata kataaaa...!!

Unyonge na uwizi wa kisheria, uhuni, sasa basiii...

Watukomeee, tutawamaliza, no... noooo... oohh shit..!!
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Maamuzi ya kisheria ndio yameishatoka sasa nyie endeleeni kuruka "samba soti".
 
Ndo maana mtumbuaji majipu hakutaka kabisa kuligusa hili jipu kumbe alijua mwisho wa mchezo matokeo yatakuaje, shamba la bibi wavunaji wache wavune walimaji wacha tupigwe jua la utosi tz nuksi mikosi
 
nderingosha said:
...bunge limekaa likapitisha maazimio....mojawapo ikiwa dhidi ya PAP na umiliki wa IPTL...utekelezaji wa maazimio ya bunge hadi leo hatujaona feedback yake bungeni....mambo yanafanyika kama vile nothing happened....ifike mahali hili suala la escrow lirudi lijadiliwe bungeni...kwamba pesa hizi walipe waliozichota....maana wanajulikana....namwona Kafulila akianza kukumbukwa kwa mchango wake kwa taifa hili...maana alipiga kelele saana wakati hela hizi zinataka kulipwa kwa PAP na VIP..lakini wao wakang'an'gana na amri yao ya kimagumashi ya jaji Utamwa...wakachota hela....
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Hii ndoto kwa serikali hii ya kijambazi kila mtu kaka kiupigaji tuuu ili swala lishajadiliwa bungeni tangu bunge lililopita, wenye akili zao(wasomi) wamezifiicha kwenye miguu yao wamebakia kujipendekeza unafki ili washibishe matumbo yao na kupata vyeo. Yaani hii nchi ni ya ajabu mpaka bas
 
Wo shi niubi said:
Hiki kitu kilichotokea kwa serikali kulipa PAP sio kitu cha bahati mbaya, seriklai ilijua kabisa huwezi lipa PAP wakati huo kuna kesi mahakamani kati ya serikali na SCB-HK, hili lilikuwa ni dili ambalo walilisuka wao wenyewe, hii nchi ya kijinga sana, wakalipa dol mil 200 kwa PAP( haya ni malipo Hewa), leo tena wanaamuliwa kulipa dol mil 148.4 over Bil 300 za kitanzania, bado hao waliolipwa ile pesa ya ESCROW wapo, yule mhindi yupo, watu wa serikali na viongozi walio fanya huu ujanja ujanja hadi malipo yakafanyika kwa PAP wapo, ilitakiwa baada ya habari hii kupatikana serikali ingekuwa imeshamkamata huyu mhindi na wenzake wote haraka ili wasikimbie, lakini tunabaki wote tunashangaa tu. Haiwezekani watu wapige bil 300+ tukawaacha hivi hivi, huu ni wizi wa karne.
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Ha ha muhindi yupo New Delhi saa hizi anatafuna matambuu.
 
nderingosha said:
.....hii ruling moja kwa moja inawavua nguo TANESCO na BoT.....kwamba walifanya makosa makubwa kuwalipa PAP na VIP hela toka kwenye mfuko wa escrow wakati wao hawakua party kwenye escrow agreement....hapa lazima BoT waeleze nani aliruhusu zile pesa walipwe kina VIP na PAP toka escrow account....

....escrow account ilikuwa ni agreement kati ya tanesco....na standard chartered bank (HK)...na BoT(kama mtunza fedha)....sasa wao tanesco wameruhusu sehemu ya pesa za escrow kulipwa kwa VIP na PAP kinyume na mkataba wa awali....hili ni kosa...na lazima tuhiji kwanini BoT walilipa ile hela???...kazi kwa utawala wa JPM hapa.....
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Hela hazikuwa za umma (serikali)?
 
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