Philip Morris International has said that the next arbitration hearing in a dispute between Philip Morris Asia (PMA) and Australia over standardized packaging is scheduled to take place on Feb. 20.
The arbitration is proceeding in accordance with the provisions of the Bilateral Investment Treaty (BIT) and the Arbitration Rules of the United Nations Commission on International Trade Law 2010.
PMA is a Hong Kong corporation that owns and controls Philip Morris Ltd in Australia.
Hong Kong and Australia have a BIT agreement.
Category: Breaking News