Reproduced from www.worldbank.org/icsid with permission of ICSID.
Case report (free download)
Case Report by Leonard W.N. Hawkes, editor Ignacio Torterola
In its Decision on annulment issued on March 29, 2016 (the "Decision"), the ad hoc Committee constituted under the ICSID Convention dismissed the Democratic Republic of Congo's application for annulment of the Award rendered on February 7, 2014, in its entirety. The Democratic Republic of Congo (the "DRC" or the "Respondent") based its request on two grounds: (i) the Tribunal manifestly exceeded its powers; and (ii) the Tribunal failed to state the reasons on which its Award was based. The first ground was applied under two headings to four particular issues. The second ground was applied under two headings to six particular issues. By the Decision the DRC was ordered to pay the costs of the ad hoc Committee and of ICSID. The DRC was also ordered to pay one half of the legal costs of the Claimants.
Annulment - Jurisdiction - ICSID Convention article 25 - Congo (2002) New Investment Code article 8 - Interpretation - Reasons for award - Procedure.
Case report provided by International Arbitration Case Law (IACL)