Fraport: Arbitration body declines having say in PH dispute

Reuters

Posted at Dec 12 2014 11:17 AM | Updated as of Dec 12 2014 07:17 PM

FRANKFURT - Fraport said an international arbitration body that the German airport operator had called on in its claim against the Philippines for a failed airport project in Manila has again declared itself not responsible.

Fraport has been trying to take the Philippines to the International Centre for Settlement of Investment Disputes in a more than decade-long legal row over Terminal 3 at Manila airport.

A previous ICSID tribunal had declined jurisdiction to hear Fraport's claim but was later annulled by an ICSID ad-hoc committee at the end of 2010, the company said.

Fraport said on Thursday it would now analyse the situation and would continue to push its demands in Philippine courts in cooperation with the Philippine project company PIATCO, in which Fraport is a shareholder.

The terminal was scheduled to be in service in late 2002 but has only been partially opened due to the dispute between the government and the builders' consortium, which was headed by Fraport.