(Ecofin Agency) - Global Voice Group (GVG), an ICT and telecoms solutions provider, won its case against the State of Guinea for wrongful termination of contract. The International Court of Arbitration of the International Chamber of Commerce of Paris has ordered the country to pay $20 million to the company as compensation for the damage suffered. The decision follows the complaint filed by GVG since December 8, 2016.
In May 2009, the French Post and Telecommunications Regulatory Authority (ARPT) signed a contract with the GVG group to provide the institution with adequate technical resources to control and tax incoming international and national calls, fight fraud, control the frequency spectrum, etc.
But in 2014, the telecoms regulator stopped paying Global Voice Group, claiming acts of corruption, fraud and results that fell short of international expectations and standards.
At the time of its complaint, GVG claimed the sum of $106,558,720 for unpaid debts and wrongful termination of the partnership agreement.
With their lawyer, Hughes Hubbard & Reed LLP, the Republic of Guinea and ARPT intend in the coming days to bring an action for annulment of the arbitral award before the Paris Court of Appeal and, if necessary, before the French Court of Cassation.