Summary

Source: icsid.worldbank.org (Document, does not apply to summary and/or TDM IACL Case Report below).

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Case Report (free download)

Case Report by Aaron Tan Kai Ran, Editor Ignacio Torterola

Summary

Westwater Resources, Inc (Claimant) brought an action against the Republic of Türkiye (Respondent) pursuant to the Treaty Between the United States of America and the Republic of Turkey Concerning the Reciprocal Encouragement and Protection of Investments (the BIT) in which the Claimant alleged that the Respondent had breached the BIT by indirectly expropriating the Claimant's investment by way of a cancellation of key licenses that the Claimant. The Claimant also alleged that the Respondent had not conferred on it fair and equitable treatment as required under the BIT. Prior to the determination of the substantive claim, the Tribunal first considered whether it had jurisdiction under the BIT and upon holding that it did in fact have jurisdiction found in favour of the Claimant's substantive case. The Tribunal subsequently awarded the Claimant damages.

Main issues

Consent to arbitration under the BIT; Whether there was direct or indirect expropriation under the BIT; Whether the Respondent had treated the Claimant fairly and equitably; What was the appropriate amount of compensation owed to the Claimant.

Westwater Resources, Inc v The Republic of Turkiye (ICSID Case No. ARB/18/46) - Award - 3 March 2023

Case report provided by International Arbitration Case Law (IACL)

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