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Investment Arbitration

Investor in fertiliser group fails to annul Venezuela award

Investor in fertiliser group fails to annul Venezuela award

05 October 2017

An ICSID annulment committee has refused to annul an award rejecting a US$150 million claim against Venezuela relating to an expropriation in the fertiliser industry.

UK court refuses to stay Romania's extradition of ICSID witness

UK court refuses to stay Romania's extradition of ICSID witness

04 October 2017

A London criminal court has held it is not an abuse of process for Romania to seek to extradite a witness in an ICSID case to face prosecution for alleged corruption – despite the arbitral tribunal's order that the European Arrest Warrant to which he is subject be withdrawn or suspended.

Japanese roadbuilder takes Tanzania award to DC court

Japanese roadbuilder takes Tanzania award to DC court

03 October 2017

A Japanese company has asked a US court to confirm an ICC award requiring Tanzanian government bodies to pay over US$60 million in a dispute over a road construction project.

Sawiris company seeks to annul Algeria award

Sawiris company seeks to annul Algeria award

03 October 2017

A company managed by Egyptian billionaire Naguib Sawiris has applied to ICSID to annul an award that rejected its US$4 billion treaty claim against Algeria as an abuse of rights.

Uproar in Slovakia over legal fees in hydro case

Uproar in Slovakia over legal fees in hydro case

02 October 2017

Slovakia’s government is facing criticism over revelations that it agreed to pay a success fee of €64 million to a local attorney who defended the state in a Vienna arbitration concerning a hydroelectric power plant.

Czech award blocked again in US

Czech award blocked again in US

02 October 2017

A US court has for a second time refused to enforce a blood plasma supplier’s US$650 million award against the Czech Republic, ruling that it was not binding because it failed to clear an arbitral review process.

Mongolia treaty award challenged in New York

Mongolia treaty award challenged in New York

02 October 2017

A trio of Chinese state-owned investors has asked a New York court to set aside an investment treaty award in favour of Mongolia, arguing that the tribunal’s refusal to hear a mining dispute on jurisdictional grounds “defeats the purpose of investor-state arbitration.”

Costs payday for Russia after withdrawn Yukos claim

Costs payday for Russia after withdrawn Yukos claim

29 September 2017

A Dutch company has paid a costs award to Russia after withdrawing one of a series of “second wave” Yukos-related claims against the state last year.

Syria award upheld in Switzerland

Syria award upheld in Switzerland

29 September 2017

A Middle Eastern company that saw the bulk of its US$300 million claim against Syria dismissed by an ICC tribunal has lost a challenge to the award before Switzerland’s highest court.

Armenia faces ICSID claim over real estate ’fraud’

Armenia faces ICSID claim over real estate ’fraud’

28 September 2017

A US businessman has lodged an ICSID claim against Armenia over its failure to act on allegations that he was defrauded by his business partner in a real estate venture that went bankrupt.