GreenX Metals Limited: Update on the Arbitration Award Against Poland

GreenX Metals Limited (ASX: GRX) provide an essential update regarding its international arbitration claims against the Republic of Poland under the Australia-Poland Bilateral Investment Treaty and the Energy Charter Treaty. On 07 October 2024, the Tribunal unanimously awarded GreenX £252 million in compensation and interest, confirming that Poland violated its obligations under the Treaties. In response, Poland has requested that this BIT award be set aside, challenging it on grounds related to jurisdiction and claiming procedural unfairness. GreenX wants to emphasize that Poland’s request regarding the BIT claim is now before the courts of England and Wales. Poland seeks to dispute the Tribunal’s jurisdiction and alleges procedural unfairness, particularly regarding the Tribunal’s decision on damages.

The circumstances under which an award can be set aside are minimal, primarily involving either a lack of jurisdiction by the Tribunal or serious irregularities such as procedural unfairness. Importantly, these proceedings do not allow the courts to reconsider the Tribunal’s decision on the case’s merits, strengthening Greene’s position.

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