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ESM’s pleas for clarification amounted to undue request for reconsideration
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Interpretation and clarification is not meant to give a second bite at the cherry, as illustrated by fact that arbitrators can decline to interpret the award
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No ground to “sanction” claimant’s procedural conduct as argued by the respondent, but costs are split
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No evidence of additional damages beyond interest on guarantees’ amounts
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Parties agreed in contract that guarantees should only be drawn on the basis of audited statements
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JSB’s investment obligations were suspended pending ESM’s compliance with its own obligations
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Claimant’s withdrawal from local proceedings does not mean that it lost the right to contest ESM’s calling on the guarantees
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Tribunal needs to decide on claim put in Terms of Reference, even though claimant seems to have dropped it later on
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Claimant’s counsel was validly appointed
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Change of seat is an extreme solution that requires extreme circumstances
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When adopting the ICC Rules, the parties also agreed to the administration of the case by the ICC
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Background: Iron and steel venture falters, leading state-owned entity to cash performance guarantees
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