Singapore Court Dismisses Poland's ECT Set-Aside Motion
| Stock | Greenx Metals Ltd (GRX.ASX) |
|---|---|
| Release Time | 12 Jan 2026, 8:23 a.m. |
| Price Sensitive | Yes |
Singapore Court Dismisses Poland's ECT Set-Aside Motion
- GreenX awarded £252 million (A$519 million / PLN 1.2 billion) in compensation and interest under the Australia-Poland Bilateral Investment Treaty (BIT) award
- £183 million (A$378 million / PLN 900 million) awarded under the Energy Charter Treaty (ECT)
- Singapore Court rejects Poland's application to set aside the ECT award
GreenX Metals Limited (GreenX or Company) has announced that the Singapore International Commercial Court of the Republic of Singapore (Singapore Court) has rejected, in its entirety, the Republic of Poland's (Poland) application to set aside the Energy Charter Treaty (ECT) award, thereby upholding GreenX's previously announced right to compensation under the ECT. In October 2024, GreenX was awarded approximately £252 million (A$519 million / PLN 1.2 billion) in compensation and interest in the Australia-Poland Bilateral Investment Treaty (BIT) award after the Tribunal unanimously held that Poland breached its obligations under the BIT and ECT. Approximately £183 million (A$378 million / PLN 900 million) was awarded pursuant to the ECT. In 2025, Poland lodged a request to set aside the ECT award in the Singapore Court (having also lodged a request to set aside the BIT award in the courts of England and Wales in late 2024). The Singapore Court has now rejected, in its entirety, Poland's application to set aside the ECT award. Additional interest of approximately £17 million (A$34 million / PLN 83 million) has already accrued from when the Award was made in October 2024 to the end of December 2025 and will continue to compound annually until full and final payment by Poland.