PTT Appeals Supreme Court to Claim RPCG ฿1.5bln as Civil Court Revokes Arbitral’s Award

Following the claim submitted by PTT Public Company Limited (PTT) in 2012 with Thai Arbitration Institute requested RPCG Public Company Limited (RPCG) to make payment which was overdue to PTT under the condensate residue purchase and sell agreement in an amount of approximate THB 1,500 million and interest charged, in 2017, the arbitral tribunal reached the award by demanding RPCG to make payment in full claimed amount with interest charged to PTT. RPCG however filed a motion with the Civil Court to revoke the arbitral award.

On March 29, 2019 the Civil Court rendered the judgment that the arbitral award be revoked. However, PTT respectfully cannot concur with the Judgment and, therefore will appeal the Civil Court’s judgment with the Supreme Court in accordance with the law.