"The proceedings shall consist of two parts. The first part ('Part I') shall deal with the Applicant's request that the enforcement of the Awards be stayed for the duration of the annulment proceedings. The second part ('Part II') shall deal with the Applicant's applications to annul the Awards. Each part of the proceedings shall consist of a written phase followed by an oral hearing before the Committees."
"(1) The Applicant's request for the continued stay of the enforcement of the Award rendered on 28 July 2015 is rejected;
(2) The provisional stay is lifted as of the date of this Decision;
(3) The Applicant has 90 days as of the date of dispatch of this Decision to comply with paragraph 1020.1 of the Award;
(4) Any funds paid by the Applicant or collected by the Respondents in consequence of the Award, and any documents establishing title to the Claimed Properties, be placed in escrow until the conclusion of these annulment proceedings;
(5) The Parties are directed to engage in discussions with a view to agreeing on an appropriate escrow arrangement; and
(6) The decision on the allocation of costs is reserved until the conclusion of these annulment proceedings."1
"i) Zimbabwe elected to restitute the Properties before 23 July 2017;
ii) the Escrow Agreement per Directions of the Committees of 7 July 2017 is to be opened with the Bâtonnier of the Paris Bar serving as Escrow Agent;
iii) no Agreement has been signed to date as issues raised by the Paris Bar remain unanswered;
iv) the Bâtonnier has not informed the Parties of the bank account references into which to deposit Escrow Funds;
v) Zimbabwe is legally and practically prevented from implementing Restitution with the Bâtonnier Escrow Agent for those reasons (i.e., no Agreement has been signed to date – no account number)."2
"9.1.1 Zimbabwe has not sought to establish that it has met the tests it has set itself – there is simply no legal analysis whatsoever to support the Application;
9.1.2 Further or alternatively, Zimbabwe seeks to reopen the 23 July Decision (which the Committees cannot do);
9.1.3 Further or alternatively, Zimbabwe has not met the test for the grant of provisional measures; and
9.1.4 Further or alternatively, Zimbabwe has not established sufficiently compelling (or any) circumstances to justify a stay."5
(a) The Applicant's Application for Provisional Measures including Temporary Stay of Execution is dismissed;
(b) The Parties are directed to individually establish escrow accounts of their own devise, with an internationally reputable bank, in accordance with paragraph 99(4) of the Decisions on Stay; and
(c) The Parties are directed to submit their proposed escrow account arrangements for the Committees' prior review and approval by 15 September 2017.
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