In Teinver SA and others v The Argentine Republic (ICSID Case No. ARB/09/1), an ICSID tribunal has refused to order the suspension of criminal complaints and a criminal investigation pending against the claimants and their third party funder. However, the tribunal deferred a decision as to whether to order the suspension of the complaints and investigation in respect of the claimants’ counsel and court-appointed receivers, as it was not clear whether the investigation included allegations against them. The tribunal also ordered Argentina to refrain from publicising the criminal complaints and investigation. We will report further soon.

In İçkale İnşaat Limited Şirketi v. Turkmenistan (ICSID Case No. ARB/10/24), and in accordance with Article 49(2) of the ICSID Convention and Rule 49 of the ICSID Arbitration Rules, the claimant has requested a supplementary decision and rectification of an award rendered on 8 March 2016. In the award, the tribunal decided, by majority, that its jurisdiction was unaffected by a provision in the Turkey-Turkmenistan bilateral investment treaty (BIT) requiring proceedings to be commenced in local courts (see Legal update, Local court proceedings not a condition precedent of ICSID jurisdiction).

The Republic of Nauru has signed and ratified the ICSID Convention, which will enter into force on 12 May 2016.

The Secretary General of the Permanent Court of Arbitration (PCA) and Prince Dr Bandar Bin Salman Bin Mohamed Al-Saud of Saudi Arabia have signed a Memorandum of Understanding. The first project agreed between the parties was the translation of the PCA website into Arabic.