Turkey wins Libananco case

Energy Minister Yildiz said that an international arbitration body had ruled in favor of Turkey in the 10.1 billion USD "Libananco case"

Turkey wins Libananco case

World Bulletin/News Desk

Turkish Energy Minister Taner Yildiz said that an international arbitration body that works for settlement of financial conflicts has ruled in favor of Turkey in the 10.1 billion USD "Libananco case" on Wednesday.      

Yildiz told reporters that the Libananco case, the biggest arbitration case in Turkey's history, was concluded in favor of Turkey and Uzan family's demand for compensation about 10.1 billion USD, including 25.5 billion USD interest, was turned down.      

The International Center for Settlement of Investment Disputes (ICSID) concluded the Libananco case between the Republic of Turkey and Turkey's Uzan Family and found that Turkey was not guilty.  

Last Mod: 23 Mayıs 2013, 09:48
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