ICSID Orders Bangladesh Oil And Gas Company To Pay $25 Million Award
(October 15, 2015, 2:22 PM EDT) -- WASHINGTON, D.C. — A tribunal for the International Centre for Settlement of Investment Disputes (ICSID) on Oct. 14 ordered a Bangladesh oil and gas company to pay a $25,312,747 arbitration award issued in favor of a resource company into an escrow account, plus 139,988,337 Bangladesh Taka in satisfaction of the award (Niko Resources [Bangladesh] Ltd. v. People's Republic of Bangladesh, et al., Nos. ARB/10/11 and ARB/10/18, ICSID).
(Decision available. Document #05-151027-018X.)
Niko Resources (Bangladesh) Ltd. filed two requests for arbitration against the People's Republic of Bangladesh,...