Latest development Mar 10, 2026
A Curaçao court refused recognition of a related award.
The award
- Amount awarded
- About $50M (Cengiz) and $30.1M (Etrak judgment)
- Award holder
- Cengiz İnşaat and Etrak İnşaat (Turkey)
- Respondent
- State of Libya
- Forum
- ICC (Cengiz, 2018) · Swiss-seated treaty arbitration (Etrak)
Challenges
The Cour de cassation rejected Libya’s annulment bids against the Cengiz award on February 12, 2025.
Enforcement
United States: the D.D.C. confirmed the Etrak award on February 4, 2025 ($30.1M with interest) and denied Libya’s stay request. In December 2025 it allowed attachment of Libyan assets toward the judgment. Curaçao refused recognition of a related $20M Turkish ICC award and held the attached assets immune (March 10, 2026).
Recovered to date
None reported
Notes
Two awards combined. The Curaçao ruling concerns a related award.