Pakistan Wants $800M Award To Turkish Energy Firm Nixed

Law360, New York (November 8, 2017, 3:58 PM EST) -- Pakistan on Tuesday filed a petition to annul an award said to be worth roughly $800 million that the International Centre for the Settlement of Investment Disputes issued to a Turkish energy firm after the country seized a floating oil-burning power station in 2013.

In an update on the ICSID’s docket, the secretary general for the World Bank tribunal noted that Pakistan’s application for annulment had been registered and that a provisional stay of enforcement of the award was in effect.

In a conversation with Law 360 on Wednesday, Pakistan's attorneys Diego Gosis and Ignacio Torterola of GST LLP heavily criticized...

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