Published: 3/11/2026 6:48:56 AM
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Zenith Energy provides an update on the application that its subsidiary Canadian North Africa Oil and Gas, CNAOG, made last autumn at a federal supreme court in Switzerland for annulment of the ICC-2 arbitration.The application was filed in September 2025 and accepted by the court in October of the same year. According to Zenith, the Republic of Tunisia did not submit its response within the set timeframe and has instead challenged the court's jurisdiction and claimed that the matter should be heard by a Tunisian court of appeal.Zenith's CEO Andrea Cattaneo says that Tunisia's decision to contest the court's jurisdiction and have the matter heard on its own soil is "yet another example of Tunisia's recurring attempts to evade justice"."This is also evident, among other things, from the fact that the country has not yet paid any of the procedural costs associated with the arbitrations, which have instead been paid by Zenith's subsidiaries, including CNAOG," Cattaneo adds.He says this is symptomatic of a recurring pattern of behavior involving delay tactics, withholding payments, and attempting to inflict as much financial damage as possible on Zenith's subsidiaries in order to hinder their ability to pursue their claims further."Our legal team has worked with great commitment and perseverance to clearly and fully present the grounds for the application for annulment of ICC-2. We look forward to the Swiss court carefully reviewing CNAOG's submissions," Cattaneo concludes.
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