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Investment Arbitration

New ICSID claims against Indonesia and Sri Lanka

New ICSID claims against Indonesia and Sri Lanka

Premium article - 11 August 2016

Indonesia is facing an ICSID claim over a palm oil refinery which appears to have also given rise to arbitration in Jakarta, while a new claim has been filed by a hotel developer against Sri Lanka.

Venezuela to pay Gold Reserve award in full

Venezuela to pay Gold Reserve award in full

Premium article - 09 August 2016

UPDATED. Venezuela has agreed to pay Canadian gold mining company Gold Reserve US$770 million in full satisfaction of an ICSID award, after a two-year enforcement fight in multiple jurisdictions.

Tribunal rejects treaty-hopping claim against Senegal

Tribunal rejects treaty-hopping claim against Senegal

Premium article - 08 August 2016

An ICSID tribunal has rejected a Luxembourg investor’s innovative attempt to access protections under Senegal’s bilateral investment treaties with the UK and the Netherlands through the most favoured nation clause of a World Trade Organization treaty.

Glencore brings claim against Bolivia

Glencore brings claim against Bolivia

Premium article - 05 August 2016

As predicted by GAR four years ago, Glencore International has filed a claim against Bolivia over the May Day nationalisation of a tin and zinc mine.

ICSID stats show winning streak for investors

ICSID stats show winning streak for investors

Premium article - 04 August 2016

UPDATED. ICSID’s latest caseload report has shown a 10 per cent rise in positive awards for investors in the last fiscal year, at a time when investor-state dispute settlement is facing criticism for perceived anti-state bias.

New Romania dispute has echoes of ‘Rompetrol’

New Romania dispute has echoes of ‘Rompetrol’

Premium article - 01 August 2016

Kazakhstan’s state-owned oil and gas company has filed a notice of dispute on Romania after it froze a local subsidiary’s assets in a corruption probe, raising the prospect of a sequel to Rompetrol’s eight-year-long ICSID claim against the state.

Bribery prosecution in Romania triggers ICSID claim

Bribery prosecution in Romania triggers ICSID claim

Premium article - 29 July 2016

An insurance and media tycoon convicted of bribing judges by the Romanian courts is the victim of a politically motivated campaign that has denied him urgent medical care, it is alleged in a new ICSID claim against the state.

Montenegro wins second ICSID case

Montenegro wins second ICSID case

Premium article - 28 July 2016

Montenegro has defeated a €600 million ICSID claim brought by an aluminium company owned by Russian oligarch Oleg Deripaska, after a tribunal ruled that the company’s Cypriot address was phoney and it had failed to establish its status as a foreign investor.

Crystallex less distressed after enforcement in Canada

Crystallex less distressed after enforcement in Canada

Premium article - 28 July 2016

A Toronto court has enforced a US$1.4 billion ICSID award in favour of distressed Canadian mining company Crystallex, which holds that Venezuela expropriated its investment in one of the world’s largest gold deposits.

ICSID claim against St Lucia dismissed

ICSID claim against St Lucia dismissed

Premium article - 27 July 2016

US oil company RSM’s US$200 million claim against the Caribbean state of Saint Lucia is at an end after the company failed to pay US$750,000 security for costs, as ordered by the tribunal in an ICSID first.