The International Centre for Settlement of Investment Disputes (ICSID) has published its Decision on the Stay of Enforcement of the Award in the ongoing arbitration case where Savoie Arbitration serves as Lead Counsel for the Applicants Peteris Pildegovics and SIA North Star against Kingdom of Norway, No. ARB/20/11.
In this decision, the Committee granted the Applicants’ request for a continuation of the stay of enforcement.
An article by Giovanni Dall’Agnola, published yesterday in Investment Arbitration Reporter IAReporter, delves into this decision, highlighting that the continuation of the stay is conditional on the Applicants’ commitment to ensure payment if the award stands.
Also, the ad hoc committee decided in Procedural Order Nr.1 that Norway is prohibited from receiving assistance from the Wikborg Rein law firm during the Committee’s examination of Applicants’ conflict-of-interest concerns raised as a ground for annulment of the award.
