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...

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