ICSID Grants Stay Of Award In Favor Of Turkey, Refuses Provisional Measures

ICSID Grants Stay Of Award In Favor Of Turkey, Refuses Provisional Measures

WASHINGTON, D.C. - The International Centre for Settlement of Investment Disputes (ICSID) on May 18 released two rulings in a dispute between a Cypriot company and the Republic of Turkey in relation to an energy charter treaty, denying the company's request for provisional measures but granting an application for stay of enforcement until a decision is reached on its request to annul a portion of an arbitration award for Turkey (Libananco Holdings Co. Limited v. Republic of Turkey, No. ARB/06/8, ICSID).

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