Azpetrol International Holdings B.V., Azpetrol Group B.V. and Azpetrol Oil services Group B.V. v. Azerbaijan, ICSID Case No. ARB/06/15

>Claimant : Azpetrol International Holdings B.V.; Azpetrol Group B.V.; Azpetrol Oil services Group B.V.
>Nationality : Netherlands, Netherlands, Netherlands
>Respondent : Azerbaijan
>Procedural rules applied : ICSID
>Chair : Florentino Feliciano (Arthur Watts replaced)
>Arbitrator appointed by Claimant : Charles Brower
>Arbitrator appointed by Respondent : Christopher Greenwood
>Invoked instruments : ECT
>Articles mentioned : Article 10 (1)
, Article 13
, Article 14
, Article 22
, Article 26
>Breaches alleged :
- (10.1) Fair and equitable treatment
> Breaches alleged :
- (10.1) Unreasonable or discriminatory measures
> Breaches alleged :
- (13.1) Expropriation
> Breaches alleged :
- (22.1) Ensure a state enterprise conducts activities consistently with a Contracting Party ECT obligations
> Breaches alleged :
- (14) Transfer of funds
>Breaches found : No jurisdiction under ECT
>Case status : Award rendered
>Year of the award or agreement : 2009
>Year of registration : 2006

Flowchart
>Subject matter of the dispute: Claims arising out of Azpetrol International Holdings’s loss of its shares in local companies, after an Azerbaijan court decided the original purchase contract had been ineffective, and returned the shares to their former owner
>Amount claimed:Not specified
>Amount awarded: ZERO
>Costs of arbitration: Not specified
>Award legal costs: Each party bears its own legal costs
>Award costs of arbitration: Each party bears its own legal costs

ARBITRAL DECISION

8 September 2009

Arbitral Award