Ioannis Kardassopoulos v. Georgia, ICSID Case No. ARB/05/18

  • >Claimant : Ioannis Kardassopoulos
  • >Nationality : Greece
  • >Respondent : Georgia
  • >Invoked instruments : ECT and BIT
  • >Procedural rules applied : ICSID
  • >Chair : Yves Fortier
  • >Arbitrator appointed by Claimant : Francisco Orrego Vicuña
  • >Arbitrator appointed by Respondent : Vaughan Lowe (Arthur Watts replaced)
  • >Articles mentioned : Article 45 (2)
  • , Article 45 (1)
  • , Article 26 (8)
  • , Article 1 (2)
  • , Article 1 (6)
  • , Article 1 (7)
  • , Article 13
  • , Article 26
  • , Article 44
  • >Breaches alleged :  
  • >Breaches found :(13) Direct expropriation
  • (10.1) Fair & Equitable Treatment
  • >Case status : Award rendered
  • >Year of the award or agreement : 2010
  • >Follow-on proceedings : ICSID annulment & revision proceedings discontinued
  • >Year of registration : 2010

  •                       
  • Flowchart               
  • >Subject matter of the dispute: Government's decree cancelling the concession rights of an investment vehicle, in which the investor held interests, devoted to the development of an oil pipeline to transport oil and gas from Azerbaijan to the Black Sea.
  • >BIT invoked: Georgia-Greece BIT
  • >Amount claimed: N/A
  • >Amount awarded: 15.1 million USD (for  breach) + 30,024,736.83 USD (interest) + interest 
  • >Costs of arbitration: Not specified 
  • >Award legal costs: Claimant awarded total amount 7,942,297.00 USD (including arbitration costs)
  • >Award costs of arbitration: Costs follow the award

 

ARBITRAL DECISIONS

 

ANNULMENT PROCEEDINGS


ENFORCEMENT PROCEEDINGS

 


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