London tribunal dismisses Palmali claims against SOCAR
Akbar Novruz
Read moreThe State Oil Company of Azerbaijan Republic (SOCAR) has prevailed in an arbitration dispute filed by companies belonging to the Palmali Group concerning ten ships sold to SOCAR in early 2017, AzerNEWS reports.
The Palmali Group, headed by Azerbaijani-Turkish businessman Mubariz Mansimov, initiated the arbitration proceedings in June 2023.
The case concluded with a three-week hearing held in London, United Kingdom, in November 2025. During the hearings, Mansimov and several other witnesses from the Palmali side testified in person. Palmali was represented by multiple English and U.S. law firms along with a team of English lawyers.
In its ruling issued in February 2026, the three-member arbitral tribunal determined that Palmali’s claims had no legal or factual basis and dismissed them in full on several grounds.
The decision, delivered under the rules of the London Maritime Arbitrators Association, is final and binding and cannot be appealed under the applicable English law agreed upon by the parties.
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