Arbitral Digest

Matter

Garanti Koza LLP v. Turkmenistan (ICSID Case No. ARB/11/20)

Case no.
ARB/11/20
Applicable rules
ICSID Arbitration Rules in force as of April 2006
  1. 3 July 2013Arbitration

    3 July 2013Arbitration

    Decision on the Objection to Jurisdiction for Lack of Consent dated 3 July 2013

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal rejected Turkmenistan's objection to jurisdiction for lack of consent, directed that the arbitration proceed to the merits with Turkmenistan's second jurisdictional objection, and reserved all questions of costs.

    Supporting details

    8 authorities · 5 participants
    Garanti Koza LLP
    Turkmenistan
    International Centre for Settlement of Investment Disputes

    Authorities cited

    8
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, March 18, 1965)
      statute
    • Agreement between the United Kingdom and Turkmenistan for the Promotion and Protection of Investments (United Kingdom-Turkmenistan BIT, entered into force February 9, 1995)
      statute
    • Agreement between Switzerland and Turkmenistan for the Promotion and Protection of Investments (Switzerland-Turkmenistan BIT)
      statute
    • Vienna Convention on the Law of Treaties, 1969
      statute
    • Daimler Financial Services AG v. Argentine Republic (ICSID Case No. ARB/05/1)
      case law
    • National Grid plc v. Argentine Republic (UNCITRAL case)
      case law
    • Suez and Interagua v. Argentine Republic (ICSID Case No. ARB/03/17)
      case law
    • Plama Consortium Limited v. Republic of Bulgaria (ICSID Case No. ARB/03/24)
      case law
  2. 3 July 2013Arbitration

    3 July 2013Arbitration

    Dissenting Opinion dated 3 July 2013

    International Centre for Settlement of Investment Disputes

    Supporting details

    International Centre for Settlement of Investment Disputes

    3 years, 5 months and 16 days later · 1265 days

  3. 19 December 2016Arbitration

    19 December 2016Arbitration

    Award dated 19 December 2016

    International Centre for Settlement of Investment Disputes

    Decision summary
    The Tribunal found that it had jurisdiction, declared that Turkmenistan breached its obligations under the applicable bilateral investment treaty to observe obligations entered into with regard to Garanti Koza's investment and to treat that investment fairly and equitably, directed Turkmenistan to pay USD 2,529,900 in compensation with simple interest at two percent per year from 13 August 2009 until payment, and directed payment of USD 362,500 reimbursing one-half of Garanti Koza's payments to ICSID. All other requests for relief were dismissed.

    Supporting details

    2 authorities · 5 participants
    Garanti Koza LLP
    Turkmenistan
    International Centre for Settlement of Investment Disputes

    Authorities cited

    2
    • Convention on the Settlement of Investment Disputes between States and Nationals of Other States (ICSID Convention, March 18, 1965)
      statute
    • Agreement between the United Kingdom and Turkmenistan for the Promotion and Protection of Investments (United Kingdom-Turkmenistan BIT, entered into force February 9, 1995)
      statute

Matter record

Report a correction

Garanti Koza LLP v. Turkmenistan (ICSID Case No. ARB/11/20) · Matter