FRAZER SOLAR TAKES ACTION AGAINST LESOTHO FOR FAILED CONTRACT

Frazer Solar, a German Solar energy Company is enforcing a worldwide enforcement action against assets held by the Kingdom of Lesotho for damages after it failed to honour a contract to build a power station. 

Under a global enforcement order, following the award of 50 million euros ($61 million) in damages in an arbitration case in South Africa, Frazer said in a statement Tuesday that it has taken legal action to seize royalties that would be paid to Lesotho’s government by the Trans-Caledon Tunnel Authority SOC as well as payments for power from Eskom Holdings SOC Ltd. Read more via Bloomberg