Libya Wants 'Bizarre' €83M Award To Construction Co. Nixed

Law360 (September 16, 2020, 8:10 PM EDT) -- Libya is asking a D.C. federal court to vacate a "bizarre" arbitral award issuing about €83 million to an Austrian construction company over infrastructure projects that were disrupted by the Libyan revolution, saying the award requires it to pay twice what it actually owes.

The country told the court in a Tuesday brief that the more than €83 million award issued by a International Centre for Settlement of Investment Disputes tribunal "encompasses a bizarre and unsustainable decision" in which two of the three arbitrators failed to account for some €98 million in advance payments made by Libya at the outset of...

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