Next week, the International Centre for Settlement of Investment Disputes will hear an international claim filed against the government of Tanzania.
An LFJ Conversation with Michael Kelley, Partner, Parker Poe
Next week, the International Centre for Settlement of Investment Disputes will hear an international claim filed against the government of Tanzania.
The East African explains that the suit, brought by Australian company Indiana Resources Ltd, represents the interests of shareholders who invested in Ntaka Nickel Holdings LTD and Nachingwea UK Ltd. The claim could be worth close to $100 million.
Litigation Capital Management is funding the case to the tune of $4.6 million. LCM is an AIM-listed company on the London Stock Exchange.
Additionally, Montero Mining & Exploration, and Winshear Gold Corporation, have separately secured legal funding in order to pursue litigation against the Tanzanian government for unlawfully seizing multiple rare earth projects.
