I have read quite a few articles about ICSID and actual documents from the World Bank site. Nothing I have read has indicated the World Bank will get involved in the award phase. I think (my opinion) that the job of the World bank was to set up an independent mechanism that would allow these disputes to take place and be heard fairly.
The rules as I read them indicate that if a country won't comply with the award payment the onus falls on the damaged party to find assets that qualify for being taken. It is then up to the court in the country where the assets are to give the order to seize these assets. There is no case over whether the arbitration decision is correct and the award can't be modified.
These courts because of their countries signed up to be members in the ICSID process will enforce the ICSID decision by making the assets available for seizure. I don't see this as a problem in collecting and I'm not suggesting we won't collect. I'm simply saying in my opinion if VZ doesn't pay up it may take more work by Kry and their lawyers that it should. Similar to Exxon get 12 billion in VZ assets frozen in Britian Kry can do the same thing. Exxon got overturned because there was no award yet. I believe Exxon did this either as a bargaining chip which back fired or Exxon simply wanted to piss of Hugo.
From my understanding if or when Kry needs to go to court to get assets it is a matter of showing our evidence that we have won an award, their country is is a signature to the ICSID process and asking they abide by the rules. I can't see a judge in any country that is democratic not doing their job.
We will get our money!
JJ
