Gardabani Holdings B.V. and Silk Road Holdings B.V. v. Georgia (ICSID Case No. ARB/17/29)

Procedural record

1. 27 October 2022Arbitration

   27 October 2022Arbitration

   ICSID Award

   International Centre for Settlement of Investment Disputes

   Decision summary

   The majority awarded compensatory damages to Gardabani Holdings B.V. and Silk Road Holdings B.V. for breaches of the Netherlands-Georgia Bilateral Investment Treaty, including the umbrella clause in Article 3(4).

   Participants

   Gardabani Holdings B.V.

   Silk Road Holdings B.V.

   Georgia

   International Centre for Settlement of Investment Disputes

   Authorities cited

   3

   • Netherlands-Georgia Bilateral Investment Treaty (The Netherlands/Georgia BIT)
     statute
   • Ampal-American Israel Corporation v Arab Republic of Egypt (ICSID Case No. ARB/1/12/11, Decision on Jurisdiction, 1 February 2016)
     case-law
   • Orascom TMT Investments S.a.r.l. v People's Democratic Republic of Algeria (ICSID Case No. ARB/12/35, Award, 31 May 2017)
     case-law