The High Court of Justice in the British Virgin Islands (BVI) while restoring PIA's frozen assets has evoked its earlier orders regarding the attachment of the national carrier’s offshore assets.
Earlier, on December 10, 2020, BVI ordered to attach certain assets of Pakistan International Airline.
The court had attached the assets belonging to Pakistan International Airlines Investment Limited (PIAIL), including the company’s interests in two hotels — Roosevelt Hotel in Manhattan, New York, and Scribe Hotel in Central Paris.
"A short while ago judgment was announced by British Virgin Island High Court. Great legal victory for PIA and Pakistan. The order was passed earlier on the request of TCC which was seeking enforcement of Reko Diq award. All orders passed against PIA earlier are now recalled by the Court. Receiver removed from Roosevelt hotel, NY and Scribe hotel, Paris. Cost of litigation also awarded," said a statement issued by Attorney General for Pakistan (AGP) office on Tuesday.
Thieves steal Renoir paintings from French Riviera museum
- 4 hours ago
US says underwater drone 'malfunctioned' after Iran claimed capture
- 17 hours ago
Google is sending MrBeast into the wilderness, armed with AI
- 14 hours ago
Huawei copies Samsung’s privacy display in its latest trifold
- 14 hours ago
Security forces kill 11 terrorists in Kharan, Washuk: ISPR
- 4 hours ago
Data centers can’t win on Earth. How about in space?
- 3 hours ago
The unusually muted Tesla Cybercab launch
- 5 hours ago
The Jewish Democrats trying to get to “yes” on Abdul El-Sayed
- 3 hours ago
Brent crude rises above $100 a barrel as Middle East conflict escalates
- 4 hours ago
Govt jacks up petrol price by Rs5.58, HSD by Rs4.18
- 18 hours ago
CD sales are booming as physical media continues its resurgence
- 14 hours ago
Data centers are bringing Americans together
- 12 hours ago
