Furthermore, the MFN clause did not apply to the dispute settlement provisions of the BIT requiring local litigation. In Kilic Insaat Ithalat Ihracat Sanayi ve Ticaret Anonim Sirketi v Turkmenistan (ICSID Case No. Turkmenistan just isn’t included within the World Bank’s Ease of Doing Business Index owing to the scarcity of reliable data. It held that the investor didn’t litigate its claims in the Turkmen courts or prove that such effort can be futile. The main market challenges in Turkmenistan embody the shortage of constant and transparent enterprise laws, the underdeveloped monetary sector, systemic corruption and an unpredictable business surroundings the place the state holds a monopoly over all strategic sources, infrastructure, banking and international commerce, amongst other sectors. ARB/10/1) the tribunal determined that it does not have jurisdiction.
Respondent urged the Tribunal to take the annulment under consideration when rendering its determination on Respondent’s Application for Reconsideration and provided to offer a full submission on the annulment should the Tribunal wish for one. Following the Parties’ exchange of written submissions and the hearing on this concern, the Tribunal shall render a call or an award. By letter dated 20 January 2017, Respondent requested that, in mild of the Tribunal’s decisions of 4 January and 17 January 2017, the upcoming listening to be devoted solely to jurisdictional points, and not embody any witness or professional testament. It was agreed by the Parties and determined by the Tribunal at the first session that in a first section of this arbitration the Parties would make full submissions on Article 7 of the , including any related factual and legal arguments in support thereof. Respondent agreed with Claimants’ request to include new arguments in so far as they associated specifically to its counterclaims.
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