Kyrgyz Republic Says Tribunal Awarded ‘Punitive’ Interest Rate On $42M Award

(August 10, 2023, 8:17 AM EDT) -- WASHINGTON, D.C. — The Kyrgyz Republic filed a petition in District of Columbia federal court to vacate a split tribunal’s award against it worth more than $42 million in favor of four Uzbek entities that claimed damage to resorts they helped construct in the 1950s, writing that the majority overlooked the entities’ failures to comply with local laws and ordered that interest accrue on the award at a “punitive” rate that is improper under international law....