By Turgut Aycan Özcan & Timuçin Demir Everything concerning the Kılıç Ad-Hoc Committee’s Decision on Annulment of course started with the decision rendered in the ICSID case between a Turkish construction company, Kılıç İnşaat İthalat İhracat Sanayi ve Ticaret Anonim Şirketi (“Kılıç”), and Turkmenistan. Kılıç had filed an ICSID case (ICSID Case No. ARB/10/01) against Turkmenistan […]
Consent and Nationality In ICSID Jurisprudence: Two Old Chestnuts of ICSID Jurisdiction Revisited
Consent and nationality are two concepts of deep significance in ICSID jurisprudence. Consent forms a fundamental pillar of ICSID jurisdiction, and counsel for would-be ICSID claimants regularly advise their clients to express their consent to arbitrate as early as possible. Nationality is an equally core component of ICSID jurisdiction, with the place of incorporation test […]
Damages in International Arbitration – Yukos Arbitration
THE VALUATION DATE FOR DAMAGES IN INTERNATIONAL ARBITRATION – YUKOS ARBITRATION The valuation date for damages in international arbitration is clearly important, and it does not always coincide with date suggested by the Parties in an international arbitration. The Yukos arbitration illustrates this point. The two most significant valuation dates for damages, from a quantum […]
Russia’s Strategy on Quantum – Yukos Arbitration
RUSSIA’S STRATEGY NOT TO RESPOND SUBSTANTIVELY TO QUANTUM IN THE YUKOS ARBITRATION In order to help the Tribunal reach a proper valuation of Yukos Oil Company, Claimants put forward 13 possible scenarios. The claims ranged from USD 30 billions to USD 114 billions (Final Award, para. 1701 – 1710) and the three main sets of […]
Investor-State Emergency Arbitrator Award Enforced
Investor-State Emergency Arbitrator Award Enforced An investor-State emergency arbitrator award was enforced by a domestic court in Ukraine, as was initially reported by the Global Arbitration Review. This decision is interesting since it is the first known enforcement of an emergency arbitrator award against a State. Emergency arbitrator awards are non-binding on an arbitral tribunal, but remain in […]