Arbitral Digest

Matter

Libananco Holdings Co. Limited v. Republic of Turkey (ICSID Case No. ARB/06/8)

Case no.
ARB/06/8
Applicable rules
ICSID Arbitration Rules in force as of April 2006
  1. 2 September 2011Arbitration

    2 September 2011Arbitration

    Award dated 2 September 2011

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that it had no jurisdiction because Libananco had not proved that it owned shares in Cukurova Elektrik Anonim Sirketi and Kepez Elektrik Turk Anonim Sirketi before 12 June 2003, and dismissed all claims. Libananco was ordered to pay the Republic of Turkey US$602,500 for the expended portion of Turkey's advance on arbitration costs and US$15,000,000 for legal fees and out-of-pocket expenses, with interest on unpaid amounts. The share certificates were ordered to be released from escrow to Libananco.

    Supporting details

    6 participants
    Libananco Holdings Co. Limited
    Republic of Turkey
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Michael Hwang
    Arbitrator
    Franklin Berman
    Institutional administrator
    Martina Polasek

    8 months and 5 days later · 248 days

  2. 7 May 2012Arbitration

    7 May 2012Arbitration

    Decision on Applicant's Request for a Continued Stay of Enforcement of the Award dated 7 May 2012

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee continued unconditionally the stay of enforcement until it decided the application, reserved its decision on costs related to the stay request, and rejected the Applicant's request to strike Section 3.3 of the Respondent's observations from the record.

    Supporting details

    6 participants
    Libananco Holdings Co. Limited
    Republic of Turkey
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Hans Danelius
    Institutional administrator
    Martina Polasek
  3. 7 May 2012Arbitration

    7 May 2012Arbitration

    Decision on Applicant's Request for Provisional Measures dated 7 May 2012

    International Centre for Settlement of Investment Disputes

    Decision summary
    The ad hoc Committee dismissed the request for provisional measures and reserved its decision on costs related to the request for a later stage.

    Supporting details

    6 participants
    Libananco Holdings Co. Limited
    Republic of Turkey
    International Centre for Settlement of Investment Disputes
    Arbitrator
    Hans Danelius
    Institutional administrator
    Martina Polasek

    1 year and 15 days later · 380 days

  4. 22 May 2013Arbitration

    22 May 2013Arbitration

    Decision on Annulment dated 22 May 2013

    International Centre for Settlement of Investment Disputes

    Supporting details

    International Centre for Settlement of Investment Disputes

Matter record

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Libananco Holdings Co. Limited v. Republic of Turkey (ICSID Case No. ARB/06/8) · Matter