Latest development Oct 2026
Zimbabwe opposed summary affirmance in the D.C. Circuit (No. 26-7170).
The award
- Amount awarded
- D.D.C. judgment of $126.6M plus £1.02M (including interest to July 31, 2026)
- Current estimate
- Interest accrues at about $19,600 a day
- Award holder
- Border Timbers Ltd and Hangani Development Co. (Pvt) Ltd
- Respondent
- Republic of Zimbabwe
- Forum
- ICSID ARB/10/25 · Switzerland–Zimbabwe BIT
Challenges
ICSID annulment outcome not verified. Zimbabwe applied to the tribunal for interpretation of the award (registered December 11, 2025) and asked for a stay of enforcement (April 9, 2026), which is pending.
Enforcement
England: the UK Supreme Court held ([2026] UKSC 9, with Infrastructure Services Luxembourg v. Spain) that Article 54 of the ICSID Convention waives immunity from adjudication, and remitted other defenses to the Commercial Court. United States: the D.C. Circuit affirmed jurisdiction in November 2024, and the D.D.C. granted summary judgment on July 24, 2026 and entered judgment on August 3, 2026.
Recovered to date
None reported