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About TDM

Focussing on recent developments in the area of Investment arbitration and Dispute Management, regulation, treaties, judicial and arbitral cases, voluntary guidelines, tax and contracting.

TDM is supported by CEPMLP / Dundee, the International Bar Association and other law firms, international organizations and companies.

Editor-in-Chief

Editor-in-Chief is Thomas Wälde, Professor of International Energy Law (and former Executive Director) of the Centre for Energy, Petroleum and Mineral Law and Policy (CEPMLP) at the University of Dundee, the internationally leading graduate school in oil, gas and energy law and policy. Professor Wälde is the former principal UN adviser on oil, gas, energy and investment law.

Award and Annulment Proceeding in CDC Group plc v. The Republic of the Seychelles

Anthony C. Sinclair
Associate
International Arbitration Group
Allen & Overy LLP

An ICSID Award of 17 December 2003 in the case of CDC Group plc v. Republic of the Seychelles (ICSID Case No. ARB/02/14) has been authorised for public release by the Claimant. The parties' agreement to submit disputes to ICSID also contains the parties' consent for ICSID to publish the Award. The investment dispute concerned enforcement of two guarantees issued by the Respondent to cover loans made by the Claimant to a local statutory corporation in relation to the expansion and upgrade of two power stations. The Award shows that the Respondent did not contest liability under the first guarantee although it did contest liability under the second. However, in his Award the Sole Arbitrator Sir Anthony Mason, AC KBE found that the Respondent had no good defences to claims based on the guarantees and ordered that the Respondent pay the full amounts owing under both together with interest and costs.

The full article, the Decision of ad hoc Committee on Whether or Not to Continue Stay and Order and Award of 17 December 2003 in CDC v. Seychelles are available for subscribers only.