2017
Lotus v. Turkmenistan Lotus Holding Anonim Şirketi v. Turkmenistan (ICSID Case No. ARB/17/30)
Turkmenistan
Türkiye
Investments in two electric power plants and a refinery.
Claims arising out of the Government’s alleged failure to make a retention payment for the construction of two 254-megawatt electric power plants, and of unlawfully terminating the agreement relating to the refinery.
Secondary: C - Manufacturing
Tertiary: D - Electricity, gas, steam and air conditioning supply
19 - Manufacture of coke and refined petroleum products
35 - Electricity, gas, steam and air conditioning supply
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Lowe, V.
Boykin, J. H.
Stern, B.
Decided in favour of State
66.20 mln EUR (71.50 mln USD)
Data not available
Most-favoured nation treatment

Umbrella clause

National treatment

Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims

Indirect expropriation
None - jurisdiction declined
None