JSC Tashkent v. Kyrgyzstan

Case summary

At a glance

Parties: JSC Tashkent Mechanical Plant, JSC Asakabank (formerly JSCB Asaka), JSCB Uzbek Industrial and Construction Bank and JSC National Bank for Foreign Economic Activity of the Republic of Uzbekistan v. the Kyrgyz Republic
Case no.: ICSID Case No. ARB(AF)/16/4; U.S. District Court for the District of Columbia Case No. 23-cv-2266-RDM
Forum and rules: ICSID Additional Facility arbitration; set-aside petition under the Federal Arbitration Act
Court: United States District Court for the District of Columbia
Underlying award(s): Award of 17 May 2023, with the Partial Dissenting Opinion of Professor Zachary Douglas
Outcome: The Kyrgyz Republic's petition to vacate the award was dismissed with prejudice by joint stipulation, after the parties stated that the award had been satisfied and extinguished by mutual agreement.
Amount: Not stated in the published document. Each party bears its own costs and attorneys' fees in the court proceeding.

The dispute

The claimants in the arbitration were JSC Tashkent Mechanical Plant and three Uzbek banks. They brought ICSID Additional Facility proceedings against the Kyrgyz Republic (ICSID Case No. ARB(AF)/16/4). The tribunal issued its award on 17 May 2023, and Professor Zachary Douglas wrote a partial dissenting opinion. The Kyrgyz Republic then filed a petition under the Federal Arbitration Act in the U.S. District Court for the District of Columbia to vacate or set aside the award, in whole or in part. The award was rendered in the District of Columbia. The only published document is the parties' joint stipulation dismissing that court proceeding. It does not describe the investment, the measures at issue, the claims or the tribunal's findings.

Key holdings

The parties stated that, by their mutual agreement, the award of 17 May 2023 had been satisfied and extinguished. On that basis there was no ground left to set aside, vacate or enforce it before the court. Stipulation ¶ 3
The parties jointly moved to dismiss the set-aside proceeding with prejudice under Federal Rule of Civil Procedure 41(a)(1)(A)(ii). Each party bears its own costs and attorneys' fees in the court proceeding. Stipulation ¶¶ 1, 4–5

Procedural history

17 May 2023The ICSID Additional Facility tribunal issues its award, with the partial dissenting opinion of Professor Zachary Douglas.
2023The Kyrgyz Republic petitions the U.S. District Court for the District of Columbia to vacate or set aside the award (Case No. 23-cv-2266-RDM).
30 November 2023Joint stipulation of dismissal with prejudice, filed after the award was satisfied by agreement.