Pakistan Asks To Exit Energy Co. Bid To Enforce $846M Award
Law360 (October 1, 2018, 7:16 PM EDT) -- Pakistan has asked a D.C. federal court to toss a Turkish energy company's suit seeking to confirm a nearly $846 million arbitral award stemming from a rental power project, arguing that a tribunal wrongly ignored the country's evidence of corruption and that the court lacks jurisdiction to enforce the award anyway.
Enforcing the award from the International Centre for Settlement of Investment Disputes would violate the U.S. Constitution's due process clause and international law, Pakistan asserted Friday, saying the tribunal reached its conclusion that the nation improperly expropriated some of Karkey Karadeniz Elektrik Uretim AS' investments in a barge-mounted rental power project...
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