Karkey Karadeniz Elektrik Uretim A.S. v. Islamic Republic of Pakistan


Arnold & Porter Kaye Scholer recently secured an important victory for leading Turkish energy company Karkey Karadeniz Elektrik Uretim A.S. (Karkey) in an ICSID arbitration against the Islamic Republic of Pakistan.

In August 2017, the tribunal unanimously issued a final award, finding Pakistan liable under the Turkey-Pakistan bilateral investment treaty, and ordering Pakistan to pay approximately $800 million in damages, including interest. The award for Karkey is one of the largest damages awards in ICSID history.

The team included International Arbitration partners Paolo Di Rosa (Picture), Anton Ware, Larry Schneider, and David Reed; Corporate and Finance partner Raul Herrera; and International Arbitration associates Amy Endicott, José Antonio Rivas, John Muse-Fisher, Monty Taylor, and Bart Wasiak.

Involved fees earner: Paolo Di Rosa – Arnold & Porter Kaye Scholer LLP; Anton Ware – Arnold & Porter Kaye Scholer LLP; Lawrence Schneider – Arnold & Porter Kaye Scholer LLP; David Reed – Arnold & Porter Kaye Scholer LLP; Raul Herrera – Arnold & Porter Kaye Scholer LLP; Amy Endicott – Arnold & Porter Kaye Scholer LLP; Jose Antonio Rivas – Arnold & Porter Kaye Scholer LLP; John Muse-Fisher – Arnold & Porter Kaye Scholer LLP; Monty Taylor – Arnold & Porter Kaye Scholer LLP; Bart Wasiak – Arnold & Porter Kaye Scholer LLP;

Law Firms: Arnold & Porter Kaye Scholer LLP;

Clients: Karkey Karadeniz Elektrik Uretim A.S.;