Qatar National Bank (Q.P.S.C.) v The Republic of South Sudan - United States District Court for the District of Columbia Case No 1-25-cv-01870 - Petition to Enforce Arbitration Award - 13 June 2025
Country
Year
2025
Summary
1. Petitioner Qatar National Bank (Q.P.S.C.) ("Petitioner" or "QNB") respectfully requests enforcement of an arbitration award pursuant to 22 U.S.C. § 1650a and Article 54 of the Convention on the Settlement of Investment Disputes Between States and Nationals of Other States, Mar. 18, 1965, 17 U.S.T. 1270, 575 U.N.T.S. 159 (the "ICSID Convention").
2. The arbitration award (the "Award") was rendered in favor of Petitioner and against the Republic of South Sudan ("South Sudan") and the Bank of South Sudan ("BSS") (together, the "Respondents") on May 7, 2024, following an arbitration (the "Arbitration") before the International Centre for the Settlement of Investment Disputes ("ICSID"). A certified copy of the Award is attached as Exhibit 1 to the Declaration of Jovana Crncevic ("Crncevic Decl.") which is concurrently filed herewith. The Tribunal's Decision on Jurisdiction and Liability, dated January 5, 2024 (the "Liability Award") is attached to the Award and incorporated by reference therein. (See Award ¶ 1.)
3. In the Award, the Tribunal rejected all of Respondents' jurisdictional objections, found that Respondents had breached the Facility Agreement dated April 5, 2018 (the "Facility Agreement") between QNB, South Sudan, and BSS (Crncevic Decl. Ex. 2), and awarded QNB monetary damages as described herein.
4. To date, Respondents have not satisfied any portion of the Award.
5. Respondents have not sought to annul the Award pursuant to Article 52 of the ICSID Convention and Rules 50 and 52-55 of the ICSID Arbitration Rules, and the 120-day deadline for seeking annulment under those provisions has also expired. Nor have Respondents sought to stay enforcement of the Award pursuant to Article 50, 51, or 52 of the ICSID Convention or Rule 54 of the ICSID Arbitration Rules. (See infra ¶ 33.)
6. Pursuant to Article 54(1) of the ICSID Convention and 22 U.S.C. § 1650a, an arbitral award issued under the ICSID Convention is not subject to collateral attack--in essence, a re-argument of aspects of the Arbitration, its proceedings or the Award--and must be enforced and given the same full faith and credit as if it were a final judgment of a court in the United States.
7. Accordingly, Petitioner requests that this Court enter an Order: (1) enforcing the Award in the same manner as a final judgment issued by this Court; (2) entering judgment in Petitioner's favor and against Respondents in the amounts specified in the Award plus post-award interest; and (3) awarding QNB such other and further relief as this Court may find just and proper.
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