Arbitral Digest

Matter

Ickale Insaat Limited Sirketi v. Turkmenistan (ICSID Case No. ARB/10/24)

Case no.
ARB/10/24
Applicable rules
ICSID Arbitration Rules
  1. 8 March 2016Arbitration

    8 March 2016Arbitration

    Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found the claims within its jurisdiction and admissible but dismissed them in their entirety for lack of merit. It ordered Ickale Insaat Limited Sirketi to pay Turkmenistan USD 1,747,521 toward legal and expert fees and expenses, and ordered the parties to share equally the Tribunal's fees and expenses and the costs of the ICSID facilities.

    Supporting details

    3 authorities · 6 participants
    Ickale Insaat Limited Sirketi
    Turkmenistan
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Mr Paul-Jean Le Cannu

    Authorities cited

    3
    • Agreement between the Republic of Turkey and Turkmenistan concerning the Reciprocal Promotion and Protection of Investments (Turkey-Turkmenistan BIT, 2 May 1992)
      statute
    • Convention on the Settlement of Investment Disputes Between States and Nationals of Other States (ICSID Convention, 18 March 1965)
      statute
    • Vienna Convention on the Law of Treaties, 23 May 1969
      statute

    6 months and 26 days later · 210 days

  2. 4 October 2016Arbitration

    4 October 2016Arbitration

    Decision on Claimant's Request for Supplementary Decision and Rectification of the Award

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal denied the request for a supplementary decision and the requests for rectification, except that it corrected two textual errors in the Award. Each party was ordered to bear 50% of the administrative expenses of ICSID and the Tribunal's costs and fees, and its own legal and other costs.

    Supporting details

    1 authority · 6 participants
    Ickale Insaat Limited Sirketi
    Turkmenistan
    International Centre for Settlement of Investment Disputes
    Tribunal secretary
    Mr Paul-Jean Le Cannu

    Authorities cited

    1
    • Convention on the Settlement of Investment Disputes Between States and Nationals of Other States (ICSID Convention, 18 March 1965)
      statute

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Ickale Insaat Limited Sirketi v. Turkmenistan (ICSID Case No. ARB/10/24) · Matter