Morocco and the Swedish group Corral Morocco Holding have officially requested the rectification of errors regarding the ruling by the International Center for Settlement of Investment Disputes (ICSID) on their dispute.
Earlier, ICSID, an arbitration center affiliated with the World Bank, had ordered Morocco to pay $150 million to Corral, the majority shareholder of the Moroccan Refining Industry Company (SAMIR). Following this decision, both parties were given 45 days to file requests for either a rectification of the ruling or an appeal.
Although ICSID rulings are considered final and binding for the parties involved, there are provisions for post-ruling remedies. Parties may request an additional decision from the same tribunal if they believe certain issues were not addressed. They can also seek correction for material errors, calculation mistakes, or similar inaccuracies in the ruling.
The ICSID ruling has drawn attention due to its impact on Morocco’s only oil refinery, SAMIR, which has been at the center of the legal dispute. In July, the Federation of the Democratic Left (FGD), an alliance of two left-wing Moroccan political parties, called for the immediate reopening of SAMIR to bolster the country’s energy sovereignty in light of the initial ICSID decision.
The FGD also expressed concerns over the financial and social struggles faced by SAMIR employees. They urged that these workers be compensated for the hardships they are likely to endure while the legal proceedings continue.