Rumeli Teleko and Telsim Mobil v. Kazakhstan – Damages Are Tricky

April 2, 2010

Kazakhstan applied to annul the award given by the ICSID tribunal in this case under Article 52 of the ICSID Convention. Ultimately the Annulment Committee decided that the award should stand.

On the way the Annulment Committee elaborated how any Annulment Committee should assess the quantum of damages that are awarded by the tribunal, holding that regard could be had to the entire record before the tribunal when the reasons on the face of the award might be insufficient and giving a wide deference to the tribunal due to the complications inherent in assessing future loss.

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