Summary

Reproduced from www.worldbank.org/icsid with permission of ICSID.

INTRODUCTION

A. The Parties

1. The Claimants are Federal Elektrik Yatirim ve Ticaret A.. (a company incorporated under the laws of the Republic of Turkey), Mustafa Nurdoan, Irfan Nurdoan, and Asim Kayan (all natural persons and nationals of the Republic of Turkey) (collectively, the "Claimants").

2. The Respondent is the Republic of Uzbekistan (the "Respondent").

3. The Claimants and the Respondent are collectively referred to as the "Parties" and are each referred to as a "Party."

B. Procedural History

4. On 8 May 2013, the Claimants filed a Request for Arbitration under the ICSID Convention for claims under the Agreement Between the Republic of Turkey and the Republic of Uzbekistan Concerning the Reciprocal Promotion and Protection of Investments (the "Turkey-Uzbekistan BIT" or the "BIT"), and the Energy Charter Treaty (collectively, the "Claims").

5. On 24 May 2013, the Secretary-General of the International Centre for Settlement of Investment Disputes ("ICSID" or the "Centre") registered the Request for Arbitration pursuant to Article 36(3) of the ICSID Convention. The proceedings were designated as Federal Elektrik Yatirim ve Ticaret A.., Mustafa Nurdoan, Irfan Nurdoan and Asim Kayan v. Republic of Uzbekistan, ICSID Case No. ARB/13/9 (the "Proceedings").

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C. The Parties' Settlement

28. The Parties' agreed text recording the fact of the Parties' Settlement Agreement and steps taken to terminate the Proceedings is as follows:

"SETTLEMENT

1. On 6 August 2019, Claimants on behalf of the Parties notified the Arbitral Tribunal that the Parties had reached an agreement in principle to settle the Claims.

2. On 28 October 2019, 30 October 2019, and 31 October 2019, the Parties executed an agreement to resolve their dispute and discontinue the Proceedings (the "Settlement Agreement" or the "Agreement").

3. On 17 January 2020, the Parties jointly informed the Arbitral Tribunal that they had settled their dispute and that they had executed the Settlement Agreement. The Parties requested that the Arbitral Tribunal suspend the Proceedings until 30 April 2020 pursuant to their Agreement.

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