a. The Respondents should be jointly and severally liable to pay and shall pay the Claimants US$14,028,560.67 and NGN11,799,762.94 forthwith.
b. The Respondents should pay simple interest at a rate of 5% per annum on the sums referred to in paragraph (a) above from 21 August 2015 until payment. The accrued interest as of 6 June 2017 was stated to be US$1,260,648.74 and NGN1,060,362.26.
c. The Respondents would bear the Claimants’ legal costs ("Legal Costs") of this arbitration. The parties should endeavour to agree the quantum of the Legal Costs within 7 days of the date of the Consent Award. If no agreement was reached, the quantum of the Legal Costs would be determined by the Tribunal without an oral hearing in a further award having received written submissions from the parties in accordance with a timetable set out in paragraph 13 the Consent Award.
"shall decide the amount of such Legal Costs on such reasonable basis as it thinks appropriate".
Article 28.4 states that the Tribunal's decision on Legal Costs should be on
"...the general principle that costs should reflect the parties' relative success and failure in the award or arbitration or under different issues, except where it appears to the Arbitral Tribunal that in the circumstances the application of such a general principle would be inappropriate under the Arbitration Agreement or otherwise. The Arbitral Tribunal may also take into account the parties' conduct in the arbitration, including any cooperation in facilitating the proceedings as to time and costs and any nonco-operation resulting in undue delay and unnecessary expense."
|LCIA's administrative charges||£2,117.17|
|Tribunal’s fees and expenses||£6,160.00|
|Total relevant costs||£8,277.17|
We further award that the Respondents must pay this sum within 14 days of the date of this PARTIAL FINAL AWARD ON LEGAL COSTS.
We further award that the Respondents must pay simple interest at the rate of 5% per annum on the sum of £241,888.39 from the date of this PARTIAL FINAL AWARDON LEGAL COSTS until the date that such sum (together with any accrued interest thereon) has been paid in full.
We further award that the Respondents must pay the further Arbitration Costs of £8,277.17 within 14 days of the date of this PARTIAL FINAL AWARD ON LEGALCOSTS.
The Tribunal retains jurisdiction in respect of any remaining matters in dispute in this reference.