Originally from the Journal of Damages in International Arbitration

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STANDARD CHARTERED BANK (HONG KONG) LIMITED V. UNITED REPUBLIC OF TANZANIA, ICSID CASE NO. ARB/15/41
AWARD, OCTOBER 11, 2019

The Parties
Standard Chartered Bank (Hong Kong) Limited (“SCB” or the “Claimant”), United Republic of Tanzania (“Tanzania” or the “Respondent”)

Sector
Financial and insurance activities

Legal Instrument
Contract

Members of the Tribunal
Professor Lawrence Boo (President), Justice David Unterhalter SC (Claimants’ apointee), and Dr Kamal Hossain (Respondent’s appointee)

I.  BACKGROUND

This case concerns Tanzania’s alleged breaches of Articles 15 and 16 of the Implementation Agreement between Tanzania and Independent Power Tanzania Limited (“IPTL”) dated 8 June 1995 (the “Implementation Agreement”) and the validity of SCB’s termination of the Implementation Agreement.