Turkish Energy Co. Says No Need To Pause $846M Award Suit
Law360 (March 4, 2019, 7:38 PM EST) -- A Turkish energy company has said a tribunal's decision provisionally staying enforcement of a nearly $846 million arbitral award against Pakistan, stemming from the termination of a contract, does not mean proceedings seeking to confirm the award in D.C. federal court should be paused.
Karkey Karadeniz Elektrik Uretim AS told the court Friday that the provisional stay of enforcement of the award — issued over the cancellation of a rental power project contract — may not end up being extended beyond March 9, as under International Centre for Settlement of Investment Disputes rules a provisional stay ends 30 days after its issuance unless there is...
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