The National Infrastructure Development Company Limited says it terminated its contract with Construtora OAS S.A. on June 21st 2016.
NIDCO says in consequence of this termination it obtained the value of securities inclusive of Performance Security and Retention, from the bankers of Construtora OAS S.A.
In a media release on Tuesday, NIDCO said the Partial Award from the Arbitral Tribunal is under challenge in the High Court of Trinidad and Tobago.
It said the grounds for the challenge are set out in the proceedings before the Court.
NIDCO said, therefore, it can make no further comment since the matter is subjudice.