KARKEY KARADENIZ ELECTRIK URETIM AS VS. ISLAMIC REPUBLIC OF PAKISTAN
The International Center for Settlement of Investment Disputes (ICSID) Tribunal in case of M/s Karkey Karadeniz Electrik Uretim AS against Islamic republic of Pakistan (ICSID case NO. ARB/13/1) has passed following ordered pursuant to authority vested in it under Article 47 of the ICSID Convention and Rule 39 of the ICSID Arbitration Rules, on the Karkey Karadeniz’s request for Provisional Measures on 16-10-2013 interalia encompassed that the State of Pakistan shall take all steps necessary to allow the vessel, Karadeniz Power ship Kaya Bey, to depart into international waters and reach, before 1 November 2013, the dry docking Dubai for inspection and repairs as determined by the Bureau VERITAS (or other equivalent agency) to maintain the vessel’s flag-register and class certification. However, Claimant i.e. M/s Karkey Karadeniz should be prepared to promptly comply with such further orders as the Tribunal may consider necessary for the return of the vessel to safe anchorage in Karachi.