Split ICSID Committee Won’t Annul 7M Euro Award Against Madagascar

Mealey's (October 19, 2022, 8:36 AM EDT) -- WASHINGTON, D.C. — A split International Centre for Settlement of Investment Disputes (ICSID) ad hoc committee declined the Republic of Madagascar’s application to annul an award against it worth more than 7 million euros for intervening in factory investors’ litigation against their insurer, rejecting its contention that the tribunal failed to address its argument that the claims were precluded by the investors’ prior arbitration against the state before other arbitrators....