ICSID Dismisses Kazakhstan's Application To Annul $125 Million Award

ICSID Dismisses Kazakhstan's Application To Annul $125 Million Award

WASHINGTON, D.C. - The International Centre for Settlement of Investment Disputes (ICSID) on March 25 dismissed an application filed by the Republic of Kazakhstan to annul a $125 million arbitration award issued for two Turkish companies that invested in a joint venture telecommunications services company, finding that the ICSID tribunal properly stated its reasons for awarding damages and that the investment did not violate Kazakhstan or international law (Republic of Kazakhstan v. Rumeli Telekom A.S., et al., No. ARB/05/16, ICSID; See November 2008, Page 18). Full story on lexis.com

  • Tags: