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Investment Arbitration

Kazakhstan ordered to pay for actions of court bailiffs

Kazakhstan ordered to pay for actions of court bailiffs

14 November 2017

An ICSID tribunal has ordered Kazakhstan to pay nearly US$25 million for the seizure of investments at the port of Aktau on the Caspian Sea through the “executive action” of court bailiffs that went uncorrected by the courts – but rejected allegations of judicial corruption.

Saudi Arabia hit with ICSID claim by Samsung

Saudi Arabia hit with ICSID claim by Samsung

13 November 2017

Saudi Arabia is facing an ICSID claim from South Korean conglomerate Samsung over a power generation project on the coast of the Red Sea – the second registered against the state in just three days last week.

Iranian insurer threatens claim against Bahrain

Iranian insurer threatens claim against Bahrain

10 November 2017

The leading provider of insurance in Iran has said it plans to bring an UNCITRAL expropriation claim against Bahrain at the Permanent Court of Arbitration in The Hague, with similarities ‎to a recent claim brought against the Gulf state by two Iranian banks.

Oligarch warns of treaty claim over bank nationalisation

Oligarch warns of treaty claim over bank nationalisation

09 November 2017

One of Ukraine’s richest men has warned he may bring an investment treaty claim over the loss of his stake in the country’s largest commercial bank, which was nationalised last year after regulators allegedly discovered a US$5.65 billion capital shortfall.

Saudi Arabia faces ICSID claim

Saudi Arabia faces ICSID claim

09 November 2017

A fashion chain that once sought to open a racy lingerie store in Mecca has filed a US$1.5 billion ICSID claim against Saudi Arabia – only the second the state has faced at the centre.

Pakistan seeks to reverse ICSID defeat in power vessel case

Pakistan seeks to reverse ICSID defeat in power vessel case

09 November 2017

Pakistan has applied to annul an ICSID award ordering it to pay US$800 million – one of the highest damages sums in the centre’s history – for detaining power generation vessels used during a power crisis in Karachi.

Miculas bring new action against Romania in DC

Miculas bring new action against Romania in DC

08 November 2017

Swedish brothers Viorel and Ioan Micula have returned to the courts in Washington, DC, to seek enforcement of their US$252 million ICSID award against Romania – two weeks after its confirmation in New York was reversed by an appeal court.

Coffee investor wins damages from Venezuela

Coffee investor wins damages from Venezuela

08 November 2017

REVISED. An ICSID tribunal has upheld claims against Venezuela over the expropriation of a 120 year-old coffee producer during the presidency of Hugo Chávez and ordered the state to pay investor around US$42 million plus interest (bringing the award's value to US$53 million to date).

Pugachev interim measures award published

Pugachev interim measures award published

03 November 2017

In the wake of a high-profile English court ruling that trusts set up in the names of his family members were “shams”, more details have emerged of fugitive Russian oligarch Sergei Pugachev’s largely unsuccessful bid to have civil and criminal proceedings against him worldwide suspended by order of an investment treaty tribunal.

Russia’s top court declines Ukraine’s appeal over treaty award

Russia’s top court declines Ukraine’s appeal over treaty award

03 November 2017

The Russian Supreme Court has declined to hear an appeal by Ukraine over the enforcement of an investment treaty award now worth US$144 million in favour of Russian oil producer Tatneft – allowing enforcement efforts in Russia to continue.