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Investment treaty awardUnpaid

AS Windoor v. Kazakhstan

Kazakh courts’ refusal to enforce SCC awards

Headline amount
$55MIncluding interest
Respondent
KazakhstanState
Awarded
Jan 24, 2025
Status
UnpaidNothing collected

Latest development Oct 15, 2026

The ICSID case page records a case management conference by video conference on October 14 and 15, 2026.

The award

Amount awarded
About $55M (GAR). The claimant’s counsel says the tribunal awarded the amounts of Windoor’s SCC awards (about €23M) plus late-payment interest, legal fees and costs.
Award holder
AS Windoor (Estonian glass facade and construction company)
Respondent
Republic of Kazakhstan
Forum
ICSID ARB/18/32 · Estonia–Kazakhstan BIT

Challenges

Kazakhstan applied for annulment (registered May 28, 2025). The ad hoc committee lifted the stay of enforcement on September 3, 2026. One member of the tribunal dissented from the award.

Enforcement

None reported.

Recovered to date

None reported

Notes

The award is not public. The $55M total is GAR’s figure and was not checked against the award.