Firm seeking Volume 10 told to submit papers
Broadsheet was hired by NAB to recover money stashed in offshore companies
PHOTO: FILE
ISLAMABAD:
The top court has sought additional documents from an international firm seeking Volume 10 of the Joint Investigation Team (JIT) report in the Panamagate case against the Sharif family.
Justice Sheikh Azmat Saeed on Thursday heard the plea filed by Broadsheet in his chamber, seeking a certified copy of Volume 10 of the JIT.
During the hearing, Sardar Latif Khosa appeared on behalf of Broadsheet. However, the counsel sought time to file additional documents to supplement his arguments.
The judge also noted that hearing of the case will be fixed immediately after submission of the documents. It is learnt that Khosa will submit the documents next week.
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The firm approached the apex court after an international arbitration sought a copy of Volume 10 from the attorney general of Pakistan, the National Accountability Bureau (NAB) and Broadsheet in a case pertaining to some payments.
However, the SC Registrar Office had returned the plea by raising objections.
Justice Sheikh on Thursday heard the plea against the Registrar Office objections. During hearing of the Panamagate case, the Supreme Court had ordered for not making public the Volume 10.
Broadsheet LLC, a company based in Isle of Man, started working in 2000 for and on behalf of the Government of Pakistan and the National Accountability Bureau for detecting/recovering of hidden and unlawfully obtained assets of corrupt high-ranking persons/officials of Pakistan at its own costs under the agreement dated June 20, 2000 between the firm and the government of Pakistan, through NAB.
‘Much more’ agreed with govt than public knows: Rizvi
Broadsheet was hired by NAB to recover the money stashed in offshore companies.
However, disputes pertaining to the agreement between both the parties were referred to the arbitration in London where the litigation before sole arbitrator, Sir Anthony Evans, concluded in an interim award in terms of liability.
Subsequently, dispute had arisen between both the parties and Broadsheet approached the International Arbitration for damages claims.
Now, it is learnt that Pakistan is also facing a $500 million lawsuit by Broadsheet.
Earlier, it was claimed that an agreement had been reached in May 2008 for paying $1.5 million. But, official documents showed that the company had taken the bureau to the International Court of Arbitration, claiming that it had not received the money. The firm is now pressing for payment of $500 million against Pakistan.
The application contends that the final award on the “quantum of damages” will be given upon the submission of the missing information, i.e., Volume 10 of the Panamagate.
The copy has to be presented before the International Arbitrator in London in the next hearing scheduled for July 16.
It is further submitted that “Volume 10 sought from this court will help arbitrate the quantum of damages issues pending in the arbitration, which is necessitated in the interest of justice in furtherance of the International Commitments of NAB”.
The petitioner’s obligations under the agreement were to assist in bringing back, through NAB, the huge wealth of Pakistan hidden outside of Pakistan by corrupt and unlawful means of high-ranking officials, including Nawaz Sharif and his family.
“Pursuant to the agreement, 80% of any assets repatriated to Pakistan were to be paid to the Republic and NAB,” it adds.
The application says that if Volume 10 is released to Broadsheet, the same public policy could be put to use other than the prosecutorial one.
The application states that the release of the volume 10 will meet the ends of justice whereas the none-release will create complications towards the fulfillment of International obligations by the state of Pakistan.
The top court has sought additional documents from an international firm seeking Volume 10 of the Joint Investigation Team (JIT) report in the Panamagate case against the Sharif family.
Justice Sheikh Azmat Saeed on Thursday heard the plea filed by Broadsheet in his chamber, seeking a certified copy of Volume 10 of the JIT.
During the hearing, Sardar Latif Khosa appeared on behalf of Broadsheet. However, the counsel sought time to file additional documents to supplement his arguments.
The judge also noted that hearing of the case will be fixed immediately after submission of the documents. It is learnt that Khosa will submit the documents next week.
Fallout from cancelled contracts left for next govt
The firm approached the apex court after an international arbitration sought a copy of Volume 10 from the attorney general of Pakistan, the National Accountability Bureau (NAB) and Broadsheet in a case pertaining to some payments.
However, the SC Registrar Office had returned the plea by raising objections.
Justice Sheikh on Thursday heard the plea against the Registrar Office objections. During hearing of the Panamagate case, the Supreme Court had ordered for not making public the Volume 10.
Broadsheet LLC, a company based in Isle of Man, started working in 2000 for and on behalf of the Government of Pakistan and the National Accountability Bureau for detecting/recovering of hidden and unlawfully obtained assets of corrupt high-ranking persons/officials of Pakistan at its own costs under the agreement dated June 20, 2000 between the firm and the government of Pakistan, through NAB.
‘Much more’ agreed with govt than public knows: Rizvi
Broadsheet was hired by NAB to recover the money stashed in offshore companies.
However, disputes pertaining to the agreement between both the parties were referred to the arbitration in London where the litigation before sole arbitrator, Sir Anthony Evans, concluded in an interim award in terms of liability.
Subsequently, dispute had arisen between both the parties and Broadsheet approached the International Arbitration for damages claims.
Now, it is learnt that Pakistan is also facing a $500 million lawsuit by Broadsheet.
Earlier, it was claimed that an agreement had been reached in May 2008 for paying $1.5 million. But, official documents showed that the company had taken the bureau to the International Court of Arbitration, claiming that it had not received the money. The firm is now pressing for payment of $500 million against Pakistan.
The application contends that the final award on the “quantum of damages” will be given upon the submission of the missing information, i.e., Volume 10 of the Panamagate.
The copy has to be presented before the International Arbitrator in London in the next hearing scheduled for July 16.
It is further submitted that “Volume 10 sought from this court will help arbitrate the quantum of damages issues pending in the arbitration, which is necessitated in the interest of justice in furtherance of the International Commitments of NAB”.
The petitioner’s obligations under the agreement were to assist in bringing back, through NAB, the huge wealth of Pakistan hidden outside of Pakistan by corrupt and unlawful means of high-ranking officials, including Nawaz Sharif and his family.
“Pursuant to the agreement, 80% of any assets repatriated to Pakistan were to be paid to the Republic and NAB,” it adds.
The application says that if Volume 10 is released to Broadsheet, the same public policy could be put to use other than the prosecutorial one.
The application states that the release of the volume 10 will meet the ends of justice whereas the none-release will create complications towards the fulfillment of International obligations by the state of Pakistan.