Latest development Jul 7, 2022
The D.C. Circuit’s mandate in Libya’s appeal was entered on the district court docket.
The award
- Amount awarded
- €74.94M (€74,937,003.60) plus interest
- Award holder
- Strabag SE
- Respondent
- State of Libya
- Forum
- ICSID Additional Facility · ARB(AF)/15/1 · Austria–Libya BIT · seat Washington, D.C.
Challenges
The D.D.C. denied Libya’s petition to vacate and confirmed the award on September 30, 2021 (No. 1:20-cv-02600), rejecting Libya’s set-off and double-recovery arguments. The D.C. Circuit affirmed on May 27, 2022 (No. 21-7128).
Enforcement
U.S. judgment entered October 15, 2021. No other enforcement steps were found.
Recovered to date
None reported
Notes
Strabag’s counsel describes the award as €84M, with total liability above €100M with interest and costs. No source on payment, settlement or enforcement after 2022 was found.