Litigation Note: Khan Resources Inc. Announces Settlement of Arbitration Award
Washington, D.C. – March 18, 2016: Crowell & Moring LLP is pleased to announce that Khan Resources Inc. and the Government of Mongolia announced on March 7, 2016 that they have agreed on the payment to Khan of US$70 million on or before May 15, 2016 and settlement of all outstanding matters pursuant to the international arbitration Award received by Khan. The Award, rendered on March 2, 2015, compensated Khan for the expropriation of its mining licenses by the Government of Mongolia in 2009. The highly esteemed arbitral tribunal was composed of New Zealander Mr. David Williams, QC (President); Canadian Maitre Yves Fortier, QC; and Belgian Dr. Bernard Hanotiau. The settlement and payment of the Award is a culmination of five and a half years of work by a dedicated and talented Crowell & Moring team of international law and arbitration attorneys. A more detailed discussion of the case can be found here.
Crowell & Moring served as lead counsel to Khan in this matter. The team was led by Ian A. Laird and George D. Ruttinger, and included Ashley R. Riveira and Joanna Coyne.
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