• ICSID Tribunal's Decision on the Claims of İçkale İnşaat against Turkmenistan
  • March 16, 2017
  • The ICSID tribunal, comprised of Veijo Heiskanen (president), Carolyn B. Lamm (appointed by the Claimant), and Phillippe Sands, QC (appointed by the Respondent), has dismissed the USD 570 million claim of İçkale İnşaat Limited Şirketi (a Turkish construction company, which will be referred to as "Ickale") against Turkmenistan, through the award rendered on March 8, 2016, where the claims are found to be without merit. Carolyn B. Lamm and Philippe Sands issued partially dissenting opinions on the decision. Ickale has requested supplementary decision, and rectification of the award on April 6, 2016, and these requests were denied, with some minor exceptions, on October 4, 2016.