Caratube tribunal vindicates Gharavi’s decision to bring second claim

The award in Caratube II vindicates the decision of Hamid Gharavi of Derains & Gharavi to bring a second case against Kazakhstan on behalf of the oil company after jurisdiction was refused first time round, dismissing the state’s objections to its claims in their entirety and awarding US$39.2 million in damages. Claims by the company's majority stakeholder, Devinnci Hourani, were dismissed on jurisdictional grounds,