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Thai Court revokes arbitrator’s ruling on Hopewell’s ฿24Bn compensation

Thai Court revokes arbitrator’s ruling on Hopewell’s ฿24Bn compensation

11 Sept 07:42 Key points summarised by AI
  • Thailand's Central Administrative Court revoked an arbitration ruling, absolving the Ministry of Transport and State Railways of Thailand (SRT) from paying Hopewell Thailand ฿24 billion in compensation.
  • The court's decision stemmed from Hopewell's failure to submit its case within the statutory one-year (later extended to five-year) deadline after the 1998 cancellation of the controversial road and rail project.
  • This ruling marks a significant development in the long-running 'Hopewell saga,' which involved a 1990 elevated transport project that was ultimately halted, leaving unfinished structures.
  • Hopewell Thailand retains the right to appeal this decision to the Supreme Administrative Court, continuing the legal battle.
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