Dhaka Expressway: SC extends status quo on transfer of shares to Sinohydro

The Supreme Court has extended its earlier order maintaining the status quo on the transfer of Italian-Thai Development Public Company Limited’s shares of the Dhaka Elevated Expressway project to China’s Sinohydro Corporation Limited. The Appellate Division bench, headed by the Chief Justice, ruled that the status quo will remain in effect until the first arbitration meeting on this issue, pending in Singapore. This order comes after Italian-Thai challenged a High Court verdict that had lifted the stay on the share transfer.