Euromedia24 on Play Store Euromedia24 on App Sore
BNB

$870.47

BTC

$113082

ADA

$0.868816

ETH

$4608.63

SOL

$213.76

31 °

Yerevan

20 °

Moscow

45 °

Dubai

20 °

London

26 °

Beijing

23 °

Brussels

16 °

Rome

23 °

Madrid

BNB

$870.47

BTC

$113082

ADA

$0.868816

ETH

$4608.63

SOL

$213.76

31 °

Yerevan

20 °

Moscow

45 °

Dubai

20 °

London

26 °

Beijing

23 °

Brussels

16 °

Rome

23 °

Madrid

Armenia has registered a victory in the case of annulment of the arbitration award


The annulment proceedings before the International Center for Settlement of Investment Disputes were initiated in connection with a dispute related to the construction of the Southern Railway and Expressway in 2023. in order to cancel the arbitration award made on January 20. The claim was submitted on the basis of the concession agreements concluded with the Republic of Armenia and the agreement "Reciprocal Promotion and Protection of Investments between the Republic of Armenia and the United States of America".

In the arbitral award, the tribunal completely rejected the claim of around 331 million USD against Armenia and ordered the claimants to compensate Armenia for around 2.8 million USD as compensation for legal fees and costs, including all expenses incurred by Armenia during the arbitration proceedings. The applicants requested the Commission to set aside the arbitral award on three grounds under Article 52 of the Convention on the Settlement of Investment Disputes between States and Nationals of Other States, arguing that: (1) the tribunal clearly exceeded its jurisdiction, (2) a serious violation of a fundamental procedural rule deviation occurred and (3) the decision did not state the reasons behind it.

The main claim of the applicants was that the tribunal should not have applied the statute of limitations established by the Civil Code of the Republic of Armenia to the claims submitted on the basis of the concession contracts, and as a result of applying them, committed such violations that are grounds for annulment of the judgment. Armenia has presented detailed and convincing arguments regarding the unfoundedness of the applicants' claims and their failure to set aside the arbitral award. In the end, the Cancellation Commission considered Armenia's positions acceptable and completely rejected the applicants' demands.

As a result, the commission obliged the applicants to compensate the legal fees and costs incurred by the Republic of Armenia during the cancellation proceedings, in the total amount of 382,248 USD. By the same decision, Armenia has the right to confiscate the 2.8 million US dollars satisfied by the arbitration award from the guarantee submitted by the applicants in favor of the Republic of Armenia during the cancellation proceedings. The interests of the Republic of Armenia were represented in the framework of the cancellation proceedings by the Alliance Law Partners law firm, represented by partner Edward (Teddy) Baldwin. Professor Frederik Sughzhan and the Office of the Representative for International Legal Affairs. Case information is available to the Centeron the website:

News

Le Figaro. McRo is going to make a statement on October 8
"Hraparak". Instead of the flag, colored pieces. Mekhakyan frightened that the flag will not like Pashinyan
"Hraparak". Samvel Babayan has made a proposal to different forces
What does Putin's birthday have to talk to Kocharyan's press conference? "Hraparak"
"Hraparak". Nikol Pashinyan broke Jalal Harutyunyan's heart
Arpi Davoyan's political "awakening". The fightbook was started. "PEOPLE"
Prison in double closed mode. Valodia Grigoryan's suspects are isolated. "PEOPLE"
The rise in prices in Armenia does not stop. The devaluation of the dram has an impact on the prices of goods. "PEOPLE"
A new clash is planned in Gyumri. Martun Grigoryan is also targeted by the CP. "PEOPLE"
Andranik Kocharyan and his report sent the CPP archive. NGOs have intensified. "PEOPLE"
Conor McGregor has been disqualified
Emergency case in Tavush region
Who commanded Kim Kardashian's murder?
Suren Grigoryan's result in the World Cup
There was no such strong tornado in the United States over the past 12 years (photos)
Kremlin told how Putin spent his birthday
Vardan Ghukasyan addressed diplomatic missions operating in Armenia
What are the CP to attend the local elections in Vagharshapat? The electoral list is ready
Hamas is mainly focused on the exchange of ceasefire and hostages in Gaza
Great interests collide in Georgia. Why does the Georgian dream win? Georgian expert about clashes (video)

More News

...

Vardan Ghukasyan addressed diplomatic missions operating in Armenia

What are the CP to attend the local elections in Vagharshapat? The electoral list is ready

Great interests collide in Georgia. Why does the Georgian dream win? Georgian expert about clashes (video)

The parents of the soldiers are detained and threatened. People are determined to go fight on two fronts (video)

Ruben Vardanyan's "trial" continued in Baku. The "victims" testified

The recordings are being recorded, saying, they come, they come to you to Gulaum. Everybody is capable (video)

Who are the culprits of the 44-day war? 5 years later, there are no punished ones (video)

3 The Presidents did not awarded the full battle together. Serzh Sargsyan (video)

We do not have a decision, we are busy with another case. Serzh Sargsyan on participation in the 2026 elections

The court rejected the protest against Serzh Sargsyan's property. Court decision (video)

"Zangezur Corridor" will not refer to the territory of the Republic of Armenia in any way. prime minister

Patrols are trying to detain Vardan Ghukasyan's car. "Hraparak"

What did you signal under Satan's paper? No. Hovsepyan did not opposite Coopera, to CPAs (video)

How to become an alternative to Pashinyan's government? Surenyants noted the main problem of the opposition (video)

The rejection of historical Armenia is the rejection of our dream, vision, memory. Anush Sedrakyan (video)

You opened the refrigerator, the 44-day report would hear if they benefit from the Law on the law. Norikyan (video)

The prime minister has been discussed by the small school reorganization program

Newly possible alliance in the business field. Narek Nalbandyan and Samvel Aleksanyan (video)

Robert Kocharyan's son, Sedrak Kocharyan filed a lawsuit against the state demanding 2 million drams in compensation

RESPONSIBILITIES IN ARMAVIR AND LORI. The Prime Minister has signed decisions