South Sudan Achieves Major Legal Victory in “Vivacell” Case Reducing Compensation from 29 Billion to 48 Million Dollars
Juba – Juba Global News Network
The International Chamber of Commerce Arbitration Tribunal issued a ruling in favor of the Republic of South Sudan in the legal dispute filed against it by the company VivacellNetwork of the World and its investors where the financial claims were reduced from 29 billion dollars to only 48 million dollars in addition to interest and costs
The Minister of Information and Official Spokesperson for the Government described the decision as a historic legal victory affirming that the national legal team succeeded in proving the strength of the state’s position reflecting its commitment to protecting its sovereignty and economic interests He added that the government will carefully study the ruling before proceeding with any subsequent legal actions
The official statement indicated that the originally claimed amount posed a grave threat to the country’s financial stability stressing that the lawsuit was legally unjustified It also expressed South Sudan’s commitment to respecting international laws and promoting a transparent and fair investment environment
This ruling is an important step in boosting investor confidence in South Sudan’s judicial and economic system and reflects the government’s efforts to defend its interests against major international claims
