ICSID Ad Hoc Committee Refuses To Annul 17.7M Euro Award Against Italy

(October 20, 2023, 2:58 PM EDT) -- WASHINGTON, D.C. — An International Centre for Settlement of Investment Disputes (ICSID)  ad hoc committee ordered the Italian Republic to pay 807,000 euros in attorney fees and $421,000 in arbitration costs after rejecting in full its application to annul a 17.7 million euro award against it for harming German and Austrian solar power investors by rescinding incentive tariffs upon which the investors relied....