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Investment Arbitration

Cairo panel rules in Egypt-Israel pipeline dispute

Cairo panel rules in Egypt-Israel pipeline dispute

25 April 2017

A tribunal seated in Cairo has found two Egyptian state entities liable for terminating a deal to supply gas to Israel but has still to rule on damages – part of a multibillion-dollar dispute triggered by the Arab Spring that has given rise to three other arbitrations.

Venezuela appeals confirmation of ICSID award

Venezuela appeals confirmation of ICSID award

25 April 2017

The Venezuelan government has appealed a ruling by a US district court last month that confirmed a US$1.39 billion award in favour of distressed Canadian mining company Crystallex.

Dominican Republic wins costs after real estate investor withdraws

Dominican Republic wins costs after real estate investor withdraws

25 April 2017

A property investor has been ordered to pay costs to the Dominican Republic after withdrawing a treaty claim against the state on the ground that conducting the arbitration in two languages was financially unviable.

Romania faces environmental claim at ICC

Romania faces environmental claim at ICC

25 April 2017

Austrian oil and gas group OMV has filed a €34 million ICC claim against Romania for failing to pay environmental clean-up costs as agreed during a privatisation deal 12 years ago.

From ICSID to UNCITRAL: Pey Casado saga to continue in different guise

From ICSID to UNCITRAL: Pey Casado saga to continue in different guise

24 April 2017

ICSID’s longest-running case could be at an end, after Victor Pey Casado asked the centre to terminate outstanding proceedings against Chile – but the Spanish newspaper publisher has now started an UNCITRAL case in its place.

Georgia risks treaty claim over electricity tariffs

Georgia risks treaty claim over electricity tariffs

24 April 2017

A Russian energy company has threatened to bring an investment treaty claim against Georgia over its refusal to allow an increase in electricity tariffs in compensation for the country’s currency depreciation.

Political asylum fails to keep businessman's treaty claim afloat

Political asylum fails to keep businessman's treaty claim afloat

21 April 2017

A controversial Turkish businessman lost an Energy Charter Treaty claim against Turkey because his investments in the country lacked a “transnational quality” even though he later obtained political asylum in France, according to a recently published SCC award from last year.

Italian brothers disappointed by damages against Romania

Italian brothers disappointed by damages against Romania

20 April 2017

Italian brothers Marco and Stefano Gavazzi are "very disappointed" after they were awarded a small fraction of the US$30 million damages sought from Romania in a dispute arising from the privatisation of a steel company.

Costa Rica tribunal acknowledges award error

Costa Rica tribunal acknowledges award error

20 April 2017

After rejecting a string of DR-CAFTA claims against Costa Rica last year on jurisdictional grounds, a tribunal has told the parties that the award contains a “factual error” regarding the status of litigation in the country and asked whether they should correct it or terminate the case.

Venezuela and Hungary seek to overturn ICSID awards

Venezuela and Hungary seek to overturn ICSID awards

20 April 2017

Venezuela has applied to annul a US$165 million ICSID award in favour of Luxembourg-steelmaker Tenaris over a Chavez-era expropriation, while Hungary has asked an ad hoc committee to review a €23 million award in favour of French corporate services provider Edenred – in both cases adding new counsel to their teams.

Australia faces another investor-state claim

Australia faces another investor-state claim

20 April 2017

More than a year after seeing off a controversial investment treaty claim by Philip Morris, Australia is facing a claim under a trade agreement from a US power company over the alleged expropriation of turbine generators.

ICSID panel won’t call in Mounties

ICSID panel won’t call in Mounties

19 April 2017

An ICSID tribunal hearing gas producer Niko Resources’ claim against two Bangladeshi state entities has said it will not ask an Alberta court to compel the sharing of evidence obtained by the Royal Canadian Mounted Police during an investigation of alleged corruption by the claimant.