Petrobart Limited v. Kyrgyz Republic, SCC Case No. 126/2003

  • Flowchart              
  • >  Subject matter of the dispute: Claims arising out of the non-payment of certain deliveries under the gas supply contract, followed by the stay of execution of a debt judgment in favour of the claimant, and a presidential decree pursuant to which the investor's contractual counterparty was restructured and subsequently declared bankrupt
  • >  Amount claimed: USD 4,084,652.20
  • >  Amount awarded: USD 1,130,859 
  • >  Valuation method: discretionary amount 
  • >  Interest rate: UNIDROIT Principles of International Commercial Contracts 
  • >  Costs of arbitration: EUR 147,774 + SEK 16,458
  • >  Award legal costs: Each party bears its own legal costs
  • >  Award costs of arbitration: Parties share costs equally
  • >  Related award: On 13 February 2003 an arbitral tribunal constituted under the UNCITRAL Rules rendered its award on the basis of the Kyrgyz Foreign Investment Law. The award was partially annulled by the Swedish Supreme Court in 2008. This award is not related to the ECT.