Ezroy Millwood, president and CEO of the National Transport Cooperative Society Ltd. - Rudolph Brown/Chief Photographer

The Ezroy Millwood-led National Transport Cooperative Society (NTCS) got final leave Monday from the Court of Appeal to go to the United Kingdom Privy Council in an effort to have its $4.5 billion arbitration award restored.

After the Government took over public transit in the Kingston Metropolitan Transport Region five years before the 10-year contract had expired, NTCS sued to recover damages for losses.

$4.5-billion award

The matter went to arbitration and a $4.5-billion award with interest was made to the NTCS. The award, which was made in June 2001, mounted, with accrued interest, to $8 billion three years later.

The Government went to the Supreme Court and was successful in having the award set aside.

In June, the Court of Appeal upheld the Supreme Court ruling. The NTCS is contending that the Court of Appeal erred when it dismissed its challenge.