PRESS RELEASE BY THE GOVERNMENT OF MALTA Malta prevails in international arbitration proceedings against Steward Healthcare

• Government succeeds in its defence and core position vindicated at the International Chamber of Commerce

The Government of Malta earlier this morning received a copy of the award delivered by the arbitration tribunal in the international arbitration proceedings involving Steward Healthcare and rendered under the Rules of the International Chamber of Commerce (ICC).

The tribunal upheld the Government's primary defence and rejected Steward Healthcare's contractual claim of circa €148 million.

The arbitral tribunal has rejected Steward's claims and applied the restitution principles in accordance with Maltese Law. No damages have been awarded to either party. The arbitral tribunal has recognised that Malta received fair value for services delivered by Steward and payments made by the Government of Malta under the concession.

According to the ICC award, the total benefits received by the Government of Malta stand at €889,434,091 while the benefits received by Steward Healthcare stand at €884,644,629, with a shortfall of €4.78 million owed to Steward Healthcare.

The ICC tribunal rejected Steward's claim that the Government of Malta had unlawfully terminated the concession and owed it contractual damages. 

The Government of Malta will continue reviewing the full decision with the State Advocate and its legal advisors to consider the legal implications of the award.

The outcome of the arbitration proceedings vindicates the Government's approach in protecting the national interest and ensures that public resources continue to be managed in the best interests of Maltese citizens. 

The Government of Malta thanks the civil servants and legal advisors who assisted in safeguarding the public interest in this matter.

Further information will be provided once the Government's legal team completes its assessment of the tribunal's detailed findings.