In December 2020, Tethyan Copper Company (TCC)
obtained an ex-parte order against the Islamic
Republic of Pakistan (Pakistan), Pakistan
International Airlines Corporation (PIA) and
various of its subsidiaries, recognising and enforcing a US$6
billion ICSID (Arbitration) Award (the Award)
which TCC had obtained against Pakistan (the Registration
Order). TCC also sought, and obtained, a Provisional
Charging Order over the BVI assets of PIA, purportedly under the
provisions of the BVI Charging Orders Act, 2020 (the 2020
Act), which (despite the contrary ex parte submission put
forward by TCC) had not been brought into force.
PIA owed no liability to TCC, however TCC submitted that the
effect of the 2020 Act was to enable the BVI Court to bypass the
separate corporate personality of PIA, and thereby enforce against
its subsidiaries. TCC further relied on the jurisdiction recognised
by the Judicial Committee of the Privy Council in La
Générale des Carrières et des Mines
