VOL. XXXI
NO. 24
21-MARCH-1988
UAE
EGPC Fails to Meet Deadline for Payment of Debt to Amoco
According to a spokesman of Amoco Sharjah Oil Company, the Emirates GeneralPetroleum Corporation (EGPC) has failed to meet the 7 March deadline to payAmoco $383mn in damages in accordance with a ruling of an arbitration panel lastmonth appointed by the Paris-based, International Chamber of Commerce (MEES,29 February). The panel, finding in Amoco's favor, had given EGPC 30 days tosettle its arrears to Amoco...
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