By Sami Zaptia.
London, 7 October 2021:
A U.S. District Court has declined Libya’s request to set aside the treaty-based Strabag v Libya award.
The court dismissed Libya’s argument at the beginning of this month that due to the tribunal majority’s refusal to set off certain advance payments from damages awarded, the award was not final.
Austrian construction company Strabag had made a claim against the Government of Libya with the International Centre for Settlement of Investment Disputes (ICSID) in Washington DC.