Aktau Petrol Ticaret A.Ş. v. Kazakhstan, ICSID Case No. ARB/15/8

  • >Claimant : Aktau Petrol Ticaret A.Ş.
  • >Nationality : Turkey
  • >Respondent : Kazakhstan
  • >Procedural rules applied : ICSID
  • >Chair : Ian Binnie
  • >Arbitrator appointed by Claimant : Bernard Hanotiau
  • >Arbitrator appointed by Respondent : Daniel Bethlehem
  • >Invoked instruments : ECT and BIT
  • >Case status : Award rendered
  • >Year of the award or agreement : 2017
  • >Follow-on proceedings : Award upheld by ICSID annulment committee
  • >Year of registration : 2015

  • >Subject matter of the dispute: Claims arising out of a series of measures taken by the respondent's courts, which allegedly resulted in the unlawful transfer of claimant's assets to a third party, connected to the government 
  • >BIT invoked: Turkey-Kazakhstan BIT
  • >Amount claimed: USD 80 million
  • >Amount awarded: USD 22.7 million 
  • >Costs of arbitration: USD 1.8 million
  • >Award legal costs: N/A
  • >Award costs of arbitration: N/A

 

ARBITRAL DECISION 

13 November 2017 - Award

ANNULLMENT PROCEEDINGS

21 June 2019 - Decision on Annulment 

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