SPEX wins US$1.1-B Malampaya tax case in arbitration 0 SHARES Share it! Voting in favor of the Malampaya consortium had been designated arbitration Chairperson Yves Fortier, SPEX-led consortium arbitrator David Williams and Philippine arbitrator Reynato S. Puno, a former Chief Justice of the Supreme Court. Petroleum service contracts (PSCs) in the Philippines take guide from the prescriptions of Presidential Decree No. Aside from the ICC case in Singapore, the Philippine government is also confronted with dispute resolution proceedings at the International Centre for Settlement and Investment Disputes (ICSID) at the World Bank Group in Washington DC – still relating to the Malampaya tax case. Many of the interested takers of the oil and gas block offers of the country has raised concern over the Malampaya tax case – and this has in fact, dampened the appetite of investors in recent years.
Source: Manila Bulletin April 24, 2019 14:08 UTC