Caratube claim dismissed for lack of 'foreign control'
Kyriaki Karadelis • Thursday, 14 June 2012 (11 months ago)
An ICSID tribunal has thrown out a billion-dollar claim by Kazakh oil company Caratube against Kazakhstan on jurisdictional grounds, finding there was insufficient evidence that the claimant is under foreign control or has an economic link to its main shareholder.
Caratube argued that its contract to explore for hydrocarbons in Kazakhstan's Aktobe province was unlawfully terminated
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