Latvia to pay after five-year ICSID case

A case that was touted at its outset as a test case for ICSID’s effectiveness at resolving cases at the lower end of the quantum spectrum has ended after five years, with a tribunal issuing a 351-page award ordering Latvia to pay €3.7 million to a Lithuanian energy company in a dispute over the nationalisation of a heating and hot water supply system.

Unlock unlimited access to all Global Arbitration Review content