Pakistan Must Pay $846M Award, Turkish Energy Co. Says
By Shayna Posses (June 21, 2018, 4:25 PM EDT) -- A Turkish energy company asked a D.C. federal judge Wednesday to confirm a nearly $846 million arbitration award issued after Pakistan detained several of the firm's vessels, among other alleged misdeeds, saying the country must pay up now that an order staying enforcement of the award is over.
Karkey Karadeniz Elektrik Uretim AS' complaint seeks recognition and enforcement of an award handed down by an International Centre for Settlement of Investment Disputes tribunal in August, concluding that Pakistan violated its obligations under a joint investment treaty with Turkey by expropriating some of Karkey's investments, including the Karadeniz Powership Kaya Bey, a...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!