On April 27, 2005, an International Chamber of Commerce Tribunal awarded over $125 million to Energy Enterprises (Mauritius) Company (“EEMC”), a subsidiary of Bechtel, for the wrongful actions of the Indian State of Maharashtra and its political subdivisions in connection with EEMC’s investment in the Dabhol power project. The Tribunal, comprised of Lou Craco (Chair), James Carter and Jonathan Rosner, awarded compensation for the Indian entities’ “destruction” of EEMC’s equity investment in the Project. Significantly, this is the first award issued against any Indian entity in connection with the loss of equity investment in the Dabhol Project, whose value is estimated at over $6 billion. In September 2003, Simpson Thacher commenced the arbitration under the Dabhol Power Company Shareholders’ Agreement on behalf of EEMC. On September 27, 2004, the Tribunal held a hearing consisting of testimony from Bechtel executives involved in the Dabhol Project, as well as oral argument.
In addition to representing Bechtel affiliates in relation to the Dabhol Project, Simpson Thacher also represents General Electric and its Mauritius subsidiary.
The Simpson Thacher Dabhol team includes Jack Kerr, Rob Smit, Lauri Sawyer, Tyler Robinson, Janet Whittaker, Katherine Cleary, Robert Keller, Christal Lint, Liz Ingles (currently on maternity leave), Alexander Uff, Gena Hatcher, and Amiad Kushner. The team receives tremendous paralegal assistance from Cyrena Terricone and Mike Guerrero.