Arbitration Case Digest

Award granting compensation in currency other than one claimed upheld

15.06.2021

Case Number: 4A_516/2020 (8 April 2021)

Award granting compensation in currency other than one claimed upheld

In a recent French-language decision, the Swiss Supreme Court upheld an ICC award in which the tribunal had awarded Turkish investors compensation in Syrian lira (SYP) although the investors had requested relief in USD. The dispute involved investors of two cement plants in Northeastern Syria. The region fell under Kurdish control in 2012 and the operation of the plants had to be abandoned by the investors.

 

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