PhosCo (ASX:PHO) and its subsidiary, Celamin, engaged international law firm Clifford Chance to defend against a new International Chamber of Commerce (ICC) arbitration brought by Tunisian Mining Services (TMS), calling the claims "entirely baseless," according to a Thursday filing with the Australian bourse.
On June 6, PhosCo and Celamin received a disputed ICC arbitration request from TMS related to alleged breaches in their joint venture over the Chaketma phosphate project.
Celamin will also pursue the AU$7.2 million in damages awarded in a prior ICC ruling, which TMS has refused to pay since 2017, the filing added.
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