An arbitration decision was made public on December 22, 2023, regarding the Banque Franco-Tunisienne (BFT) case, filed with the International Centre for Settlement of Investment Disputes (ICSID), and opposing the Tunisian State to ABCI Investments Limited.
According to the verdict, Tunisia is ordered to pay the sum of TND 343,673,000, with an estimated pre-award interest rate of 7.2% per annum from February 26, 2007 until the date of publication of the verdict, i.e. December 22, 2023.
The annual interest rate after the arbitration ruling stands at 7.2% from the date of publication of the verdict until the amount is paid in full, due to the illegal expropriation of the company’s shares in BFT dating from July 1989.
Ali Abbès, in charge of the State’s litigation department and responsible for the case, said that the Tunisian State should pay the sum of $705,693.62 thousand on behalf of ABCI as charges and expenses of the ICSID’s administrative body.
He told TAP that the arbitration body had rejected the ot
her claims of the various sides, pointing out that ABCI had claimed the sum of $12.6 billion, i.e. more than TND 37 billion.
The amount mentioned in the verdict accounts for 0.003% of the sum claimed by ABCI, he pointed out.
This arbitration dispute is considered to be the longest in the history of arbitration, the same source added, pointing out that the case dates back to 1982 and has only been resolved in 2023.
This decision is the fruit of the various efforts exerted by the many stakeholders in the case, notably the body in charge of the State’s litigation department, which has handled the case with professionalism, he concluded.
Source: Agence Tunis Afrique Presse
Ouagadougou: The Somda and Brothers Automobile Company (ESEF) on Saturday brought a smile to the face of 75 disadvantaged children, including internally displaced persons, by offering them gifts as part of the celebration of the 2023 Christmas party .
‘We are in a very difficult situation and many children have left their villages to end up in Ouagadougou, in the capital,’ said the CEO of the Entreprise Somda et Frères (ESEF) automobile group, Jean Yves Somda.
According to Mr. Somda, his company’s gesture, composed among other things of toys, children’s cars, food and others, consists of bringing smiles to disadvantaged children, including internally displaced students and guests, at these end-of-year celebrations. of year.
The PGG of the ESEF group spoke on Saturday in Ouagadougou, on the occasion of a Christmas tree, initiated by his company for the benefit of 75 children.
In his opinion, his structure organized a similar activity in 2022 in the Paspanga camp, for the benefit of children of the Defense
and Security Forces who fell on the battlefield.
For Jean Yves Somda, the ESEF automobile also supports the education of disadvantaged students and orphans, in order to enable them to continue their studies. ‘It’s not a question of means, ESEF automobile wanted to share the little it has with children and bring a smile to those in need,’ he maintained.
He also invited other structures to follow in the footsteps of the ESEF group to bring joy to children living in difficult situations in Burkina Faso.
The president of the Agir pour les enfants d’Afrique (APEA) association, Faouziatou Ouédraogo, was satisfied with this day of compassion for vulnerable children.
According to Miss Ouédraogo, her association has planned gifts such as watches for children, books and accessories for girls, for the future builders of the country.
She stressed that the APEA is carrying out its first activity, anything which contributes to the development of disadvantaged children and guests of the city of 1,200 housing units.
No
te that the ESEF automobile group organized for the third time in a row a Christmas tree for the benefit of vulnerable children.
Source: Burkina Information Agency