Latvia to pay after five-year ICSID case
Rezekne, Latvia (Credit: istock.com/imantsu)
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.
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