https://www.engineeringnews.co.za

Malaysia court rules in Ipsa’s favour

17th April 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

Font size: - +

Dual-listed power plant developer Independent Power South Africa (Ipsa) on Thursday reported that an appeal by Iris Ecopower, the Malaysian company with which it had entered into a $31-million contract to sell two of its Siemens Westinghouse 701 DU turbines in October 2012, was dismissed in the Malaysian Court of Appeal this week.

In 2013, Ipsa reported that Iris Ecopower had issued a claim against it in the Malaysian courts for the recovery of $3.1-million paid as a deposit, plus costs and consequential losses, amounting to about $9.8-million in total.

In March 2014, the Malaysian High Court accepted an application by Ipsa that the Malaysian courts should not have jurisdiction over the claim brought by Iris.

The appeals court this week also awarded costs in favour of Ipsa.

“I am very pleased that the Malaysian courts have yet again dismissed the Iris claim. This is an important victory for Ipsa,” acting CEO Peter Earl said in a statement.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ABB Electrification
ABB Electrification

Electrifying the world in a safe, smart, and sustainable way, ABB Electrification is a global technology leader in electrical distribution and...

VISIT SHOWROOM 
EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.059 0.9s - 142pq - 2rq
Subscribe Now