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2005
Saipem v. Bangladesh Saipem S.p.A. v. People's Republic of Bangladesh (ICSID Case No. ARB/05/7)
Nationality of the parties
Bangladesh
Italy
Summary of matters at issue
Right to arbitrate (i.e. a right accruing by contract having an economic value) under a contract concluded between the claimant and a State-owned entity for a gas pipeline construction project.
Claims arising out of the actions of the State-owned entity Petrobangla and of the courts of Bangladesh allegedly aimed at sabotaging an ICC commercial arbitration proceeding and the subsequent non-enforcement of the award concerning the breach of a contract concluded between the claimant and said State-owned entity for the construction of a long-distance gas pipeline.
Economic sector and subsector
Tertiary: F - Construction
42 - Civil engineering
Arbitral rules and administering institution
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Composition of tribunal
Kaufmann-Kohler, G.
Schreuer, C. H.
Otton, P.
Status/Outcome of original proceedings
Decided in favour of investor
Amount of compensation
12.50 mln USD
6.30 mln USD
IIA breaches alleged/found
Indirect expropriation
Indirect expropriation
Follow-on proceedings
None
Link to Italaw's case page