Bangladesh has appointed a British law fi rm to represent the Bangladesh Power Development Board (BPDB) in mediation proceedings at the Singapore International Arbitration Centre against Adani Power Limited, a signifi cant step in the longrunning dispute over coal pricing and power tariffs. Confi rming the development, BPDB offi cials said that the nominees’ names had already been submitted to SIAC on behalf of the state utility. Power Division offi cials said the appointed fi rm is 3 Verulam Building, a UK-based law chambers headed by King’s Counsel Farhaz Khan, who has been advising the National Review Committee for several months.
To support the King’s Counsel, BPDB has also appointed two local experts, one from the power sector and another a Supreme Court lawyer, offi cials added.
In a separate development, an international arbitration has ordered Canadian energy company Niko Resources to pay $42 million in compensation to Bangladesh over the Chhatak gas fi eld blowouts in 2005.