Originally from Journal of Damages in International Arbitration

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I. INTRODUCTION

In Anatolie Stati, Gabriel Stati, Ascom Group S.A., Terra Raf Trans Traiding Ltd. v. Republic of Kazakhstan , a Stockholm Chamber of Commerce (SCC) Tribunal found that, through a “string of measures of coordinated harassment” of Claimants’ investments related to the Borankol and Tolkyn Fields and Munaibay Oil, to the Contract 302 Properties, and to the LPG Plant,” Kazakhstan violated the Fair and Equitable Treatment provision of the Energy Charter Treaty (ECT).1 As a result, the Tribunal awarded USD 497,685,101 in damages, plus interest at “the rates of 6 months US treasury bills over the relevant period,” compounded semi-annually. In addition, the Tribunal ordered Kazakhstan "to pay Claimants 50% of Claimants' costs of legal representation [amounting to USD 8,975,469.40]," and to bear 3/4 of the arbitration costs [amounting to EUR 1,069,470.98].