Subsidiaries of Russia’s state-owned energy group Inter RAO asked a US court to enforce a US$112 million SCC award issued in a contractual arbitration against Georgia over electricity tariffs.
The interests of Inter RAO’s subsidiaries were successfully represented by Stonebridge Legal, which achieved decisions in favour of investors in both disputes.
The key team from Stonebridge Legal included partner Dmitry Surikov, as well as partner and head of Dispute Resolution Alexey Yadykin, who said:
“We started this long-standing arbitration as part of Freshfields. Throughout the process, our team supported our client, demonstrating professionalism and persistence despite all the challenges. It was our joint efforts, careful preparation and strategic approach that helped us achieve this important result. We thank the client for their trust and the team for their excellent work.”
More about the case
On 25 June 2025, Inter RAO’s subsidiaries, the Dutch entity Gardabani Holdings B.V. and the Georgian-registered electricity distribution company Telasi, applied to a United States District Court to enforce a final award issued in September 2022.
The final award has been filed as an exhibit, along with an earlier partial award on liability and one of two partial awards on damages issued in the same SCC case in 2021.
Gardabani Holdings B.V. and Silk Road Holdings B.V. (another Inter RAO Dutch subsidiary) previously filed a petition pending in the District of Columbia court to enforce the ICSID award, which would have granted them US$76 million plus interest in an investment treaty claim. That case has been suspended since last year, while Georgia filed an application with the ICSID to have the treaty award annulled.
The SCC and ICSID awards were handed down by a panel of arbitrators chaired by Henry Alvarez, which also included Stanimir Alexandrov and Zachary Douglas.
More information about the project can be found in the company’s press release.