ICSID Denies Oil Company’s Request To Enforce Award Pending Annulment Application

(January 26, 2020, 9:14 AM EST) -- PARIS — An International Centre for Settlement of Investment Disputes (ICSID) ad hoc committee on Dec. 12 denied an oil company’s request to lift a stay on the enforcement of a $39.2 million award an ICSID tribunal previously ordered the nation of Kazakhstan to pay related to a terminated oil exploration contract, enforcement of which was stayed pending Kazakhstan’s application to annul the award (Caratube International Oil Company LLP & Mr. Devincci Salah Hourani v. Republic of Kazakhstan, No. ARB/13/13, ICSID)....