Matter

Westwater Resources, Inc. v. Republic of Türkiye (ICSID Case No. ARB/18/46)

Case no.: ARB/18/46
Seat: United States
Applicable rules: ICSID Arbitration Rules in force as of April 2006

3 March 2023United States
3 March 2023United States
Award
International Centre for Settlement of Investment Disputes
Decision summary
The Tribunal found that it had jurisdiction and that the cancellation of Adur's licences breached the Treaty, but that the breaches did not cause Westwater's lost-profits loss. It awarded Westwater USD 1,283,000 in investment costs, USD 3,370,362.88 for legal fees and expenses, and USD 341,563.33 for the expended portion of its ICSID advances, with interest at SOFR plus 2% compounded semi-annually from the Valuation Date to final payment.
Supporting details
6 authorities · 25 participants
Westwater Resources, Inc.
Representative
John M. Townsend (For: Westwater Resources, Inc.)
Representative
James H. Boykin (For: Westwater Resources, Inc.)
Representative
Alexander Bedrosyan (For: Westwater Resources, Inc.)
Representative
Eleanor Erney (For: Westwater Resources, Inc.)
Representative
James Canfield (For: Westwater Resources, Inc.)
Representative
Terence Healy (For: Westwater Resources, Inc.)
Representative
Malik Havalic (For: Westwater Resources, Inc.)
Republic of Turkiye
Representative
Thomas K. Sprange (For: Republic of Turkiye)
Representative
Sajid Ahmed (For: Republic of Turkiye)
Representative
Pui Yee Wong (For: Republic of Turkiye)
Representative
Charles B. Rosenberg (For: Republic of Turkiye)
Representative
Vivasvat Dadwal (For: Republic of Turkiye)
Representative
Emma Iannini (For: Republic of Turkiye)
Representative
Hakki Susmaz (For: Republic of Turkiye)
Representative
Atike Eda Manav Ozdemir (For: Republic of Turkiye)
Representative
Suleyman Onel (For: Republic of Turkiye)
Representative
Serkan Yikarbaba (For: Republic of Turkiye)
International Centre for Settlement of Investment Disputes
Arbitrator
Ian Binnie
Arbitrator
Robert G. Volterra
Arbitrator
Brigitte Stern
Tribunal secretary
Jara Minguez Almeida
Tribunal secretary
Veronica Lavista
Tribunal secretary
Anneliese Fleckenstein
Authorities cited
6
- Convention on the Settlement of Investment Disputes Between States and Nationals of Other States
  statute
- Treaty Between the United States of America and the Republic of Turkey Concerning the Reciprocal Encouragement and Protection of Investments
  statute
- Turkish Mining Law No. 3213 of 1985
  statute
- Turkish Law No. 2840 of 1983 on Nuclear Energy Raw Materials
  statute
- Turkish Law No. 3971 of 1994
  statute
- Tethyan Copper Company Pty Limited v. Islamic Republic of Pakistan (ICSID Case No. ARB/12/1, Award, 12 July 2019)
  case-law
Direct award

Westwater Resources, Inc.

Republic of Turkiye

International Centre for Settlement of Investment Disputes