The Supreme Court on Thursday sought additional documents from Broadsheet, an international law firm seeking Volume 10 of the Panama Joint Investigation Team report to submit the same as evidence in the International Arbitration to arbitrate 'quantum of damages' against the National Accountability Bureau.
The JIT had submitted the 10 volumes in the Panama Leaks against former Prime Minister Nawaz Sharif. However, on the request of the JIT Volume 10 of the report was kept confidential. Sardar Latif Khosa, representing Broadsheet, appeared before Justice Sheikh Azmat Saeed and requested the judge to supply copy of Volume 10, but Justice Azmat directed him to provide additional documents so that their application could be entertained.
A foreign company M/s Broadsheet LLC had started working in 2000 for and on behalf of the government of Pakistan and NAB for detecting and recovering hidden and unlawfully obtained assets of corrupt high ranking persons. However, disputes in respect to the agreement between the parties arose thereafter the issue was referred to Arbitration in London.
The petitioner says that an interim Award on Liability of Pakistan and NAB has been awarded and the final award on quantum of damages is awaited, which would be awarded upon submission of the missing information to be made available to arbitrator, upon a hearing scheduled to begin on July 16, 2018 in London before Sir Anthony Evans.
It says that the copy sought will help arbitrate the quantum of damages issues pending in the arbitration, which is necessitated in the interest of justice in furtherance of the International Commitments of NAB. "The principles of policy contained in the Constitution of Pakistan desire the government of Pakistan to uplift the financial well-being of the people of Pakistan. The petitioner's obligations under the agreement were to assist in bringing back, through NAB, the huge wealth of Pakistan hidden outside of Pakistan by corrupt and unlawful means of high-ranking officials, including Nawaz Sharif and his family. Pursuant to the agreement, 80 per cent of any assets repatriated to Pakistan were to be paid to the republic and NAB," the petition added.
If the Volume 10 is released to the petitioner, the same public policy could be put to use other than the prosecutorial one. It will form a cause of action to recover the assets not only disclosed therein but also the ones beyond this part of JIT report and will help encourage investors engaged by the government of Pakistan/National Accountability Bureau.
Such an outcome would benefit the people and public interests of Pakistan. The petitioner's sole source of recovery of quantum of damages was the assets of high-ranking official unlawfully and corruptly hidden and secreted and which were beyond the known means available to such high-ranking officials.
It should be noted that in terms of Section 3.4.1 of the ARA (Assets Recovery Agreement), all expenditures in investigating the hidden assets had to be borne by the petitioner Broadsheet in the service of Pakistan under an International Obligation under the ARA.
The petition said that the covenants of the assets recovery agreement, as interpreted and directed by Sir Anthony Evans as Arbitrator, require all the parties to this application to get a copy of Volume 10 to be put into recovery operations as milestone and guidepost. That through the release sought, this Court will aid in honoring an international commitment made by the government of Pakistan / NAB and thereby aid in meeting the ends of justice.
The subject matter between the parties to the application is overlapping one viz-a-viz arbitration and adjudication. Which arbitration agreement as well as the Part Final Award is enforceable within Pakistan through Section 4 to 6 of the "Recognition and Enforcement (Arbitration Agreements and Foreign Arbitration Award) 2011 and it is therefore, incumbent upon all state functionaries to facilitate in settling the Final Award.
The high state functionaries have been appearing in the Arbitration Proceedings in London before the Arbitrator and only the certified copies of the contents of volume 10 of the Joint Investigation Team report required to be produced will facilitate the Award to its logical conclusion. Therefore, the release of the same will meet the ends of justice whereas the non-release will create complications towards the fulfillment of international obligations by the state of Pakistan.
The required copies applied herein are at the heart of the remaining quantum of damages issues between the parties to the asset recovery agreement and that such issues will be resolved with finality at the hearing before Sir Anthony Evans scheduled for July 16, 2018.
The petitioner undertakes to secure the confidentiality of the copy supplied in the interest of justice and to coordinate with the Attorney General and NAB to maintain such confidentiality. The access to information required for the purposes of justiciability of rights and duties in internationally recognized more so as Pakistan is signatory to all the UN covenants regulating the subject.