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Tanzania’s allegations of manifest excess of powers are manifestly wrong
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Allegations that tribunal failed to state reasons are belied by award itself, such that no further argument by Tanzania could affect the outcome
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Difficulties of applying Rule 41(5) in annulment proceedings entail higher threshold for dismissal of arguments as manifestly lacking legal merit
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Application for annulment does not need to be fully detailed
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Committee conditions continued stay on provision of official undertaking of compliance by Tanzania, in case annulment bid fails
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Risk of non-recoupment if the award is annulled is dispelled by claimants’ undertaking
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Tanzania’s sovereignty and dissatisfaction with the award are irrelevant to Stay Decision
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Committee confirms power to order conditional stay of enforcement and finds legal standard to be “self-explanatory”
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Background: Tanzania files for annulment of mining award; investors request lifting of stay of enforcement
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ICSID ad hoc committee confirms conditional stay of enforcement of award in a dispute against Bosnia and Herzegovina
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Committee applies its discretion and awards arbitration costs, plus 85% of legal costs to claimant
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No breach of procedural rules in rejecting EC’s application to join as amicus curiae
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Tribunal had discretion to reject evidence
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Serious departure from a fundamental rule of procedure requires two-step analysis
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Tribunal provided sufficient reasoning for its decision on the non-application of EU law
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Failure to state reasons standard needs to be interpreted in light of principle of finality of ICSID awards
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Tribunal’s refusal to apply Achmea jurisprudence to ECT case does not amount to a manifest excess of powers
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Manifest excess of powers standard can only be met if the tribunal erred egregiously; consistent case-law may be an indication that the standard is not met
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Background: Spain applies for annulment of intra-EU renewable energy award
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In the absence of reasons to confirm the stay, committee finds no need to rule on request for security
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Committee finds potential conflict with EU law irrelevant to decision on stay
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BayWa is likely to suffer harm if stay is continued
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Spain fails to prove actual risk of non-recoupment
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Committee finds merits of application irrelevant to the decision on the award’s continued stay
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