SOCAR won the arbitration case on claims filed by the Palmali group of companies

The arbitration proceedings in the case of the sale of 10 vessels by Palmali to the Azerbaijani state oil company SOCAR in 2017 have concluded. The arbitration panel rejected the claims of the Palmali group of companies.

BAKU.WS reports this with reference to ekonomim.com.

Companies within the Palmali group, managed by businessman Mubariz Mansimov, initiated arbitration proceedings in June 2023, filing various claims. The process concluded in November 2025 following three weeks of hearings in London.

During the hearings, Mansimov and other witnesses on behalf of Palmali testified in person. Palmali was represented by a team of British lawyers and law firms based in the United Kingdom and the United States.

In its decision, rendered in February 2026, the three-judge arbitration panel determined that Palmali's claims had no legal or factual basis. The panel rejected the claims in their entirety on various grounds.

The decision was made in accordance with the rules of the London Maritime Arbitrators Association and English law, which the parties had agreed to apply to the dispute.

It was stated that the decision is final and binding, and is not subject to appeal.