Avanti to Receive $20 Million Arbitration Award from Indonesia
U.K. satellite operator Avanti Communications is set to receive more than $20 million from the Indonesia government in August as the result of a legal action it brought against the nation in the London Court of International Arbitration. The legal dispute concerned orbital slot rights for an L-band satellite that Avanti had leased to the Indonesian government.
Avanti announced in June that it had obtained a final award against the government of Indonesia in the sum of $20.075 million, payable by July 31. However, due to administrative delays from the London Court of International Arbitration in the release of the signed award, Avanti and the government of Indonesia have agreed to extend the payment date to August 14, to ensure that the government of Indonesia has sufficient time to complete its internal regulatory administration to enable payment to be made.
The government of Indonesia has confirmed to Avanti that it intends to satisfy the award in full.