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Egemenoglu and Butzel Long Representing Lotus Holding in ICSID Arbitration Against Turkmenistan

Egemenoglu and Butzel Long Representing Lotus Holding in ICSID Arbitration Against Turkmenistan

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Egemenoglu is working alongside co-counsel Butzel Long in representing Lotus Holding Anonim Sirketi in an Energy Charter Treaty claim against Turkmenistan at ICSID involving the Turkish group’s investment in two power plants and a refinery. Curtis Mallet-Prevost Colt & Mosle is representing Turkmenistan in the action, which is based on both the ECT and the 1997 Turkey-Turkmenistan bilateral investment treaty.

The group is alleging various breaches of the ECT and of the discriminatory behavior, expropriation, most favored nation, and fair and equitable treatment provisions of the BIT.

This marks the second time that Egemenoglu and Butzel Long have been instructed to bring an ICSID claim against Turkmenistan, following a 2016 claim made by Turkish construction company Gorkem involving the construction of a USD 12 million shopping mall, which remains pending. Curtis Mallet-Prevost has represented Turkmenistan in all seven previous cases it has faced at ICSID. 

Lotus operates in Turkmenistan through its subsidiary, Lotus Enerji, which has undertaken eight projects in the Central Asian state. The current dispute reportedly involves one of those eight: the construction of two 254-megawatt electric power plants and a state-owned refinery.

Partner Egemen Egemenoglu is leading the Egemenoglu Law Firm team, with Partner Akin Alcitepe advising the Butzel Long team.

Ali Gursel is leading the Curtis Mallet-Prevost Colt & Mosle team.

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Founded in 1990, TURUNÇ is a leading, full-service Turkish law firm providing cutting-edge legal advice and representation to a global clientele. We provide the highest quality of legal service in each of our practice areas and we take pride in the work we do. Since our founding, we have always maintained a friendly, open and inclusive firm culture in which individuality and independent thinking are highly prized. Our lawyers work in collaborative, collegial teams across our practice areas.

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