Abstract
On 9 March 2017, an International Centre for Settlement of Investment Disputes (ICSID) tribunal chaired by Professor Lucy Reed, with co-arbitrators Dr. Michael Pryles (Ansung's appointee) and Professor Albert Jan van den Berg (China's appointee) (the Tribunal), issued its award in Ansung Housing Co., Ltd. v. People's Republic of China (the Award). The dispute arose out of Ansung's investment in a golf course and condominium development project in Sheyang-Xian, China. The Award dismissed Ansung's claim and ordered Ansung to pay 75% of China's legal fees and expenses, as well as the direct costs of the proceeding.
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