ICSID Stays Enforcement Of Award Pending Ecuador’s Application Of Annulment

Mealey's (March 10, 2020, 12:58 PM EDT) -- WASHINGTON, D.C. — After addressing the specific circumstances in a dispute over drilling sites in the Amazon, an International Centre for Settlement of Investment Disputes (ICSID) ad hoc committee ruled Feb. 21 that the Republic of Ecuador and an oil company have a dual risk requiring a stay of enforcing awards pending a determination of Ecuador’s application for annulment (Perenco Ecuador Limited v. The Republic of Ecuador, No. ARB/08/6, ICSID)....