D.C. Circuit Affirms $131M Award Against Libya For Work Disrupted By Civil War

Mealey's (May 31, 2022, 1:37 PM EDT) -- WASHINGTON, D.C. — A District of Columbia Circuit U.S. Court of Appeals panel on May 27 affirmed the confirmation of an International Centre for Settlement of Investment Disputes (ICSID) award worth more than $131 million against the state of Libya in favor of an Austrian contractor whose road construction contract with Libya was disrupted during a 2011 civil war after rejecting its argument that the tribunal erred by not setting off the damages based on advance payments it made to the contractor....