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Lexist Successful for Turkey in Investment Arbitration Against USD 6 Billion Claims

Lexist Successful for Turkey in Investment Arbitration Against USD 6 Billion Claims

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Lexist, working with King & Spalding, has successfully represented the Republic of Turkey Savings Deposit Insurance Fund in ICSID arbitration proceedings against claims by a company related to the outlawed FETO organization.

According to Lexist, this was “a delocalized international investment arbitration administered by the ICSID Secretariat, World Bank, Washington DC, USA, ICSID Case No. ARB/18/18.”

The USD 6 billion claim that the tribunal threw out concerned a mining and media conglomerate that was accused of financing terrorism and placed under the control of trustees following an attempted coup in Turkey in 2016. In an award dated December 8, the tribunal declined jurisdiction over the claim brought by Ipek Investments Limited under the UK-Turkey bilateral investment treaty.

Lexist’s team included Partners Mustafa Dogan Inal, Eyup Kul, Murat Erbilen, and Turgut Aycan Ozcan.

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