The CPC lost the appeal filed in the British Court of Appeal in relation to a claim made by Standard Chartered Bank in a sum of $164 million plus interest arising from derivative transaction between the bank and CPC.
Last year, the CPC appealed against the ruling in favor of Standard Chartered Bank which went to court after the CPC refused to make hedging payments due to the bank said the Minister Susil Premajayantha.
The CPC stated it was currently in the process of appealing against the judgement of the Court of Appeal to the Supreme Court.
Last year the CPC won the Arbitration filed by City Bank against it claiming a sum of $194 million plus interest on a derivative transaction entered into between the CPC and City Bank. The CPC was also awarded cost of Arbitration proceedings amounting to $2.5 million.