On 9 May 2018, the Conciliation Commission in the maritime boundary dispute between Timor-Leste and Australia issued its report, marking the conclusion of the first-ever conciliation proceedings under the United Nations Convention on the Law of the Sea (UNCLOS). This article aims to explain the significance of this ground-breaking conciliation case that culminates in the report by the Commission and settles a long and acrimonious maritime boundary dispute—a serious obstacle in the otherwise very good relationship between the two neighbours.