Logix Group challenges Arbitration Award

RNS Number : 8235K

Alpha Real Trust Limited

21 April 2015

 



21 April 2015

ALPHA REAL TRUST LIMITED ("ALPHA REAL TRUST" OR THE "COMPANY")

Logix Group ("Logix") challenges Arbitration Award

As previously announced, the International Chamber of Commerce (ICC) Arbitration declared an award in favour of the Company with respect to its Galaxia investment, a joint venture with the Logix Group ("Logix") located in an 11.2 acre Special Economic Zone, in NOIDA, the National Capital Region, India.

The Company has been notified that Logix has filed a petition under Section 34 of the Indian Arbitration and Conciliation Act, 1996 before the Delhi High Court challenging the Award made in favour of the Company by the International Court of Arbitration in January 2015. The matter has been adjourned for a hearing on 15 July 2015.

Further updates will be provided in due course.

For further information please contact:

Alpha Real Trust Limited

David Jeffreys, Chairman, Alpha Real Trust [phone]

Brad Bauman, Joint Fund Manager, Alpha Real Trust [phone]

Panmure Gordon, Broker to the Company

Richard Gray / Andrew Potts [phone]

About the Company

The Company is a closed-ended investment company incorporated in Guernsey that targets investment and development opportunities in real estate, including real estate operating companies, securities, services and other related businesses that offer high total returns.

Further information on the Company can be found on the Company's website: www.alpharealtrustlimited.com.   

 

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