Full Text ITA.pdf

Sistem Mohendislik Insaat Sanayi ve Ticaret A.S. (Claimant), a Turkish company, filed a request for arbitration against the Kyrgyz Republic (Respondent) with the International Centre for Settlement of Investment Disputes (ICSID) on September 30, 2005. The Claimant invoked the 1992 Turkey-Kyrgyz Treaty Concerning the Reciprocal Promotion and Protection of Investments and the 2003 Kyrgyz Law on Investment. The Tribunal was constituted on October 26, 2006, with Professor Vaughan Lowe QC as President. The Respondent did not appear at the first session, but later appointed a legal representative and participated in the proceeding. The Tribunal bifurcated the proceeding, dealing with jurisdiction first, and held a hearing on jurisdiction in Paris on May 31-June 1, 2007. The Claimant and Respondent filed memorials, counter-memorials, replies, and rejoinders on jurisdiction. The Tribunal decided on the issue of jurisdiction, but the award does not specify the outcome. The proceeding continued with the Tribunal analyzing the facts, the 1999 agreements, events between 1999 and 2005, the 2005 revolution, and developments in the summer of 2005. The Tribunal also considered the Respondent's liability, valuation of the Claimant's loss, and the parties' submissions on valuation. The award concludes with an order, but the details of the order are not specified.