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Investment Arbitration

Argentina and Total settle

Argentina and Total settle

19 July 2017

Argentina has issued bonds to satisfy another ICSID award arising from its early 2000s currency crisis, wrapping up a 13-year-long battle with French oil company Total.

India’s BIT recast continues

India’s BIT recast continues

19 July 2017

India is pressing on with its promised recast of its investment treaty framework, agreeing with Bangladesh a set of “joint interpretative notes” for their 2011 bilateral investment treaty.

Mozambique faces second ICSID claim

Mozambique faces second ICSID claim

17 July 2017

Mozambique is facing its second claim at ICSID, brought by Italian company CMC Di Ravenna over a highway construction project. The claim under the Italy-Mozambique bilateral investment treaty was registered by ICSID on 14 July.

More claims to come in Andean pollution saga?

More claims to come in Andean pollution saga?

13 July 2017

The former owner of a bankrupt Andean smelting plant that saw its US$800 million treaty case against Peru dismissed last year has notified the state of further potential claims, it has emerged.

ICSID releases latest Africa stats

ICSID releases latest Africa stats

13 July 2017

ICSID’s latest caseload report shows that African states are among the most frequent respondents, but that African arbitrators continue to make up a small percentage of the number of appointments at the centre.

BIT panel orders funded claimants to prove solvency

BIT panel orders funded claimants to prove solvency

12 July 2017

A tribunal hearing two bilateral investment treaty cases against Venezuela has ordered the third party-funded claimants to prove they have sufficient assets to pay costs if they lose – after the state demanded that they post US$5 million in security.

Pakistan challenges arbitrator over valuation method

Pakistan challenges arbitrator over valuation method

12 July 2017

As a multibillion-dollar ICSID claim over mining rights moves to the damages phase, Pakistan has applied to disqualify Bulgarian arbitrator Stanimir Alexandrov from hearing the case on the grounds that the claimants are relying on a rare valuation method that is also at issue in another case in which he is acting as counsel.

UNCITRAL to examine further reforms of ISDS

UNCITRAL to examine further reforms of ISDS

12 July 2017

As it marks its 50th anniversary, the United Nations Commission on International Trade Law has agreed to examine proposals for a permanent multilateral investment court and a standalone appellate body among a range of potential reforms to the investor-state dispute settlement system.

New hurdles for ICSID creditors in New York

New hurdles for ICSID creditors in New York

12 July 2017

Creditors of foreign states can no longer have their ICSID awards recognised in New York on an ex parte basis, following an appeal by Venezuela over a procedural issue that has divided the US courts.

Cairn loses bid to restrain India in tax dispute

Cairn loses bid to restrain India in tax dispute

11 July 2017

An UNCITRAL tribunal has refused to restrain Indian authorities from taking steps to enforce a US$1.6 billion tax bill against Cairn Energy while the Scottish oil company pursues an investment treaty claim over the measures.