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Ioannis Kardassopoulos and Ron Fuchs v. Georgia

Type of decisionDecision of the ad hoc committee on the stay of enforcement of the award
Date of decision12 November 2010
Dominque Hascher (President)
Karl-Heinz Böckstiegel
Tan Sri Cecil W. M. Abraham
Legal instrumentBIT between Georgia and Greece (1996)
Further information

Statements from this decision

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Passages of the original award, which are criticized in the application for annulment on the ground of failure to state reasons, cannot be relied on as evidence of the host state's intention not to comply with the award
The stay of enforcement according to Article 52(5) ICSID Convention is of exceptional nature
The broad discretion under Article 52(5) ICSID Convention implies the power to subject the stay of enforcement to conditions
The stay of enforcement according to Article 53 ICSID Convention is an exception to the obligation to comply promptly with an award


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