The British courts have forced the shipping company Privinvest, involved in the hidden debts case before the High Court in London, to advance 20 million dollars as a deposit to the court in favor of Mozambique. The decision comes in the context of the implementation of the judgment handed down on July 29th.

In the same context, Judge Robin Knowles set the costs owed to the Mozambican state at 80% to be quantified in execution, according to the publication in the newspaper Sunday newspaper.

Meanwhile, another major victory is that the shipbuilding company wanted the judge to award a minimum (symbolic) amount of compensation, but the judge said he wasn't prepared to reopen the discussion on this matter because it was already included in the ruling.

Likewise, the judge set the interest rate on the amount arbitrated as compensation at four percent, instead of two, which is the standard rule and which Privinvest wanted to be determined.

"At present, the possible admission of Privinvest's appeal and its effects, which may be suspensive or merely devolutive, are under discussion," says the same publication.

It should be remembered that in the original ruling, Judge Robin Knowles had granted Mozambique the right to receive 825 million dollars and determined that the country should be compensated for the 1.5 billion dollars it owes to banks and bondholders.

(Photo DR)