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Investment Arbitration

ICSID compiles responses to proposed rule changes

ICSID compiles responses to proposed rule changes

18 January 2019

ICSID has published a compendium of public comments on its proposed amendments to the centre’s rules.

Rwandan state entity takes investor to ICSID

Rwandan state entity takes investor to ICSID

18 January 2019

In a rare example of an ICSID arbitration commenced against an investor, a Rwandan state-owned entity has brought a claim against the operator of a one-of-a-kind power plant on one of Africa’s Great Lakes.

EU countries to cancel BITs post-Achmea

EU countries to cancel BITs post-Achmea

17 January 2019

UPDATED. Member states of the European Union have agreed to terminate their intra-EU bilateral investment treaties to comply with the Achmea judgment – while a majority of them have also agreed to take steps to prevent intra-EU investor-state arbitrations being filed under the Energy Charter Treaty.

Who is sitting at ICSID?

Who is sitting at ICSID?

16 January 2019

The past few months have seen 21 panels formed at ICSID, with first-time appointments for Lord Mance, Sabine Konrad, Baiju Vasani and five others.

Libya escapes bulk of airport claim

Libya escapes bulk of airport claim

14 January 2019

An ICC tribunal has rejected the bulk of a €562 million claim against Libya over the construction of a new passenger terminal at Tripoli International Airport, ruling that the state is not liable for delays to the project caused by the country’s civil war.

Tortilla award submitted for enforcement in DC

Tortilla award submitted for enforcement in DC

11 January 2019

Spanish subsidiaries of Mexican food group Gruma have started proceedings in Washington, DC, to enforce a US$430 million ICSID award against Venezuela relating to the Chávez-era expropriation of their business producing corn and wheat flour and tortillas.

Egypt seeks to annul award over approach to corruption “red flags”

Egypt seeks to annul award over approach to corruption “red flags”

11 January 2019

Egypt has applied to annul an ICSID award ordering it to pay US$2 billion to a joint venture between Spain’s Naturgy and Italy’s Eni – suggesting that by advancing its own explanation of “red flag” indications of corruption by the venture’s local partner, the tribunal denied the state its right to be heard.

UAE investor in Libya brings claim under Islamic treaty

UAE investor in Libya brings claim under Islamic treaty

11 January 2019

A UAE investor in a joint venture that operated Libya’s largest oil refinery has requested UNCITRAL arbitration against the state under the investment agreement of the Organisation of Islamic Cooperation in the wake of related ICC proceedings.

Expert witness survives challenge in Panama case

Expert witness survives challenge in Panama case

08 January 2019

An ICSID tribunal hearing a case between US subsidiaries of Japanese tyre maker Bridgestone and Panama has refused to remove an expert witness hired by the state to give evidence on Panamanian law, where he had previously been in discussions with the claimants’ counsel about giving evidence for them.

Morocco and Mexico face ICSID claims

Morocco and Mexico face ICSID claims

04 January 2019

A German scrap recycler and US construction materials company have had their claims against Morocco and Mexico registered by ICSID, while an almost decade old dispute at the centre between a US investor and Venezuela has settled.