Cited Laws
TL;DR — Ruling
Wherefore in view of the foregoing, the Arbitral Tribunal declares that: 1. The tribunal has jurisdiction over the matter submitted for arbitration by claimant; 2. The eight Financial Lease Agreements (FLAs) entered into between parties are Sales-On-Installment; 3. The claimant validly exercised the right to buy-out the facilities in June 2003; 4.
Wherefore in view of the foregoing, the Arbitral Tribunal declares that: 1. The tribunal has jurisdiction over the matter submitted for arbitration by claimant; 2. The eight Financial Lease Agreements (FLAs) entered into between parties are Sales-On-Installment; 3. The claimant validly exercised the right to buy-out the facilities in June 2003; 4. Claimant Digitel shall pay the buy-out price of [PHP] 2,398,917,947.00 to respondent; 5. Respondent DOTC shall execute the appropriate documents in favor of Digitel for the transfer of title and ownership of those facilities accepted and operated by Claimant Digitel; 6. The facilities to be bought-out include only those covered by the FLAs that have been accepted and operated by claimant Digitel and shall Exclude those facilities that are not covered by the FLAs. 7. The costs of arbitration including ICC administrative expenses, the expenses incurred by the Arbitral Tribunal and the fees of the Co-Arbitrators sum up to [USD] 402,378.00. This amount shall be borne in equal shares by the parties or [USD] 201,189.00 for each party which sums are covered by the advance on costs paid to the ICC by the parties in equal shares[.] Each party shall bear its own legal and other costs. All other claims and counterclaims are dismissed. SO ORDERED.