Contents :

On 17 February 2006, a consent order was entered into between Celcom and DeTe (‘the Consent Order’) and approved by the English High Court at a hearing. Among the principal terms of the Consent Order are:

(a) That judgment (‘Judgment’) be entered in favour of DeTe in the terms of the Award in the aggregate sum of USD232,999,745.80 (‘the Judgment sum’) being USD177,243,609 (‘the Principal Sum’), plus simple interest from 16 October 2002 to 27 June 2003 of USD16,252,139, plus USD410,000 for the costs of the arbitration, plus USD1,800,000 for reasonable legal and other costs incurred by DeTe in the arbitration, plus interest at the rate of 8% on the Principal Sum from 28 June 2003 until 12 February 2006 in the sum of USD37,293,997.80.

(b) That permission be granted for payment out of the English Court to DeTe’s solicitors of the sum of USD232 million (‘the Security Sum’) paid by Celcom into the English Court on 27 January 2006, receipt of the same was confirmed by the English Court on 31 January 2006, in partial satisfaction of the Judgment and the Award.

(c) That Celcom pay to DeTe, in partial satisfaction of the Judgment, the sum of USD999,745.80 in respect of outstanding interest under the Award (‘the Outstanding Interest Sum’) within 14 days of the Consent Order.

(d) That payment of the Security Sum and the Outstanding Interest Sum shall constitute full satisfaction of the Award and of the Judgment.

(e) That upon payment of the Outstanding Interest Sum, the Freezing Order is to be discharged and the English proceedings stayed save for the purpose of enforcement of the Judgment and the Consent Order.

(f) That Celcom will pay :

• (i) DeTe's costs of the English proceedings (except in respect of Celcom's Application which led to the hearing on 17 February 2006 in respect of which there be no order as to costs) to be assessed by the English High Court if not agreed between the parties; and
  (ii) any reasonable third party costs occasioned, and relating to any steps taken, by any third party pursuant to the English Freezing Order and/or in compliance therewith.