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Investment Arbitration

Bottlemaker free to enforce against Venezuela, rules annulment committee

Bottlemaker free to enforce against Venezuela, rules annulment committee

Premium article - 07 April 2016

In a rare move, an ICSID annulment committee hearing Venezuela’s attempt to overturn an award in favour of US bottlemaker Owens-Illinois has lifted a stay of enforcement ahead of the outcome of the proceeding.

Crystallex wins billion-dollar award against Venezuela

Crystallex wins billion-dollar award against Venezuela

Premium article - 05 April 2016

Canadian mining company Crystallex has won more than US$1.38 billion in a third-party funded claim against Venezuela over an investment in a gold-mining project – one of the largest awards in ICSID’s history.

Congo award upheld at ICSID

Congo award upheld at ICSID

Premium article - 05 April 2016

The Democratic Republic of the Congo has failed to annul an ICSID award that held it liable for unfair treatment of a Lebanese couple who were evicted from their business premises by order of a local court.

US sides with Venezuela over "statutory gap" in ICSID enforcement

US sides with Venezuela over "statutory gap" in ICSID enforcement

Premium article - 01 April 2016

The United States government has intervened in an appeal over the recognition of a US$1.6 billion award against Venezuela, arguing that the Foreign Sovereign Immunity Act still applies even when enforcing awards under the ICSID Convention.

GAR Live lookback: interrupting a gambler’s nirvana – the controversy over funders and security for costs

GAR Live lookback: interrupting a gambler’s nirvana – the controversy over funders and security for costs

Premium article - 01 April 2016

Should there be a strong presumption that a party using third-party funding should be required to put up security for costs?

Panama faces claim over actions of former government

Panama faces claim over actions of former government

Premium article - 30 March 2016

US mining company Dominion Minerals has filed a US$268 million ICSID claim against Panama over the loss of a mining concession, making much of allegations of corruption and abuse of state resources that dogged the former government led by President Ricardo Martinelli.

New treaty claims registered against Serbia and Côte d’Ivoire

New treaty claims registered against Serbia and Côte d’Ivoire

Premium article - 30 March 2016

ICSID has registered new claims against Serbia and Côte d’Ivoire over the storage of valuable artworks and the demolition of a five-star resort on the Abidjan waterfront.

Uruguay faces second ICSID claim

Uruguay faces second ICSID claim

Premium article - 29 March 2016

Miami-based telecoms company Italba has filed an ICSID claim against Uruguay over a terminated wireless spectrum licence – the second case the South American state has faced at the centre.

Laos avoids payout over US court sanction

Laos avoids payout over US court sanction

Premium article - 29 March 2016

A US court has refused to allow two UNCITRAL award creditors to collect on a cost sanction order against Laos, ruling that the amount can be offset against other costs orders favouring the Southeast Asian state in related foreign proceedings.

No security for costs needed from claimant against Bolivia, says tribunal

No security for costs needed from claimant against Bolivia, says tribunal

Premium article - 22 March 2016

In a decision earlier this year, an UNCITRAL tribunal refused Bolivia’s request that South American Silver pay US$2.5 million security for costs in a case over the alleged expropriation of a silver mining concession, saying that it rejected the view of Gavan Griffith QC that claimants using third-party funders should be liable for such security in investor-state cases.