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Penwell ready for pre-trial settlement of MegaCom dispute

Penwell Business Limited sent a letter to the government of Kyrgyzstan on pre-trial settlement of MegaCom issue. Deputy Chairman of the State Property Management Fund Bakytbek Murataliev said today at a meeting of the parliamentary fraction Respublika — Ata Jurt.

Recall, in late August it became known that the company Penwell, which is an investor and lender of MegaCom, announced the demand for compensation of $ 200 million in an investment dispute with Kyrgyzstan. The company applied for compensation for the expropriation of its investments in MegaCom telecommunication operator.

The government confirmed the international arbitration lawsuit. However, it is sure that Kyrgyzstan’s positions in this dispute are good.

«We have indicated our position. The case is handled by the Center for Judicial Representation. The company did not sue, but turned to the government with a letter. Now there is a pre-trial settlement,» Bakytbek Murataliev stressed.