Intouch Holdings Public Company Limited (SET: INTUCH) has announced that the Supreme Administrative Court dismissed the petition from the Prime Minister’s Office in the dispute with the company’s subsidiary, ITV Plc.
The company said in reference to the court’s judgement on the dispute between ITV Plc., a subsidiary in which INTUCH holds 52.92% of the total shares and the Prime MInister’s Office (PMO). This dispute involved the submission of a case by ITV on 9 May 2007 to the Thai Arbitration Institute to consider the lawfulness of PMO’s termination of the Operating Agreement Using the UHF System on 7 March 2007.
INTUCH announced that on 25 January 2024, the Supreme Administrative Court rendered a judgement to uphold the Central Administrative COurt’s dismissal of the PMO’s petition, citing the legitimacy of the arbitral award as the rationale. This dispute has, therefore, reached its finality, affirming that ITV and PMO have discharged each other from their respective obligations of 2,890,345,205.48 baht.
As a result, ITV is discharged of any debts, duties, or contractual obligations under the Operating Agreement and bears no liability toward PMO.
