The past two weeks at ICSID have brought a victory for Spain, decisions in cases involving Hungary and Bulgaria, and a bid by Argentina to annul a US$383 million award in favour of three water utility companies.
CORRECTED: French home improvement chain Leroy Merlin has defeated the bulk of an ICC claim over its decision to pull the plug on an investment in northern Greece in the wake of the country’s financial crisis.
A judgment of the Singapore Court of Appeal, delivered by Sundaresh Menon as chief justice, clarifies the rules of the game for those applying for Mareva (or freezing) injunctions in the city state, including in support of international arbitration.
Singapore’s High Court has ruled that the principle of competence-competence applies even where the existence of an arbitration agreement is in doubt, resolving what it characterised as a “chicken and egg” dilemma.
Spain has been hit with its 20th ICSID claim over reforms to its renewable energy sector since 2013 – brought by a German investor in a solar power plant and said to be worth between €50 and €100 million.
The Delhi High Court has issued a pair of prima facie anti-suit injunctions restraining proceedings in two UNCITRAL arbitrations seated outside India – raising questions over whether the lessons of the Balco case have been learnt.