Case report (free download)
Case Report by Marine de Bailleul, editor Ignacio Torterola
In an annulment decision rendered on 15 January 2016, an ICSID annulment committee upheld an August 2014 Arbitral Award rendered in favor of a German investor. The decision dismisses all of Turkmenistan's challenges to the Award based on the grounds set forth in Articles 52(1)(b), (d), and (e) of the ICSID Convention, and definitively establishes that illegal expropriation without compensation took place.
Annulment - ICSID Convention - manifest excess of powers - ex aequo et bono powers and equitable principles; Annulment - ICSID Convention - serious departure from a fundamental rule of procedure; Annulment - ICSID Convention - failure to state reasons; Tribunal interpretation.
Case report provided by International Arbitration Case Law (IACL)