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Investment Arbitration

Jay-Z's Tidal threatens BIT claim against Norway

Jay-Z's Tidal threatens BIT claim against Norway

20 August 2019

Tidal, the online music service co-owned by US rapper Jay-Z, has threatened Norway with its first investment treaty claim – over the conduct of a criminal investigation into alleged manipulation of streaming figures.

Bulgaria gets costs after Omani fund withdraws claim

Bulgaria gets costs after Omani fund withdraws claim

20 August 2019

An ICSID tribunal has awarded Bulgaria the entirety of its costs following the withdrawal of an €80 million claim by an Omani sovereign wealth fund over the collapse of a bank.

NAFTA panel says GDPR doesn’t apply

NAFTA panel says GDPR doesn’t apply

19 August 2019

A tribunal at the Permanent Court of Arbitration has ruled that the EU’s General Data Protection Regulation doesn’t apply to investor-state arbitrations under the North American Free Trade Agreement – even when one of the arbitrators is based in the UK.

Who is sitting at ICSID?

Who is sitting at ICSID?

19 August 2019

Nine new ICSID panels have been formed in the past three months, with first-time appointments for former ICSID senior counsel Ucheora Onwuamaegbu and Spanish arbitrator Antonio Hierro.

ICSID unveils third draft of rule changes

ICSID unveils third draft of rule changes

19 August 2019

ICSID has published the third draft of proposed amendments to its procedural rules following consultation with states and the public over the past year – with further changes to provisions on transparency, security for costs and third-party funders.

Mega-award against Nigeria enforced in London

Mega-award against Nigeria enforced in London

16 August 2019

An English court has said it will permit a British Virgin Islands company to enforce a US$9.6 billion award against Nigeria arising from a failed gas deal – rejecting the west African state’s arguments that the arbitrators had granted “punitive” damages.

Sierra Leone faces first ICSID claim

Sierra Leone faces first ICSID claim

16 August 2019

A subsidiary of a London-headquartered commodity trader has warned it will pursue ICSID and ICC claims against Sierra Leone after the government banned exports from its iron ore mine.

UK court adjourns bid to enforce Nigerian airport award

UK court adjourns bid to enforce Nigerian airport award

15 August 2019

The High Court in London has adjourned a Nigerian property developer’s application to enforce an award worth over US$120 million against the west African state’s airports authority, pending the outcome of related litigation in the Nigerian courts.

ICSID settlement triggers Argentine criminal investigation

ICSID settlement triggers Argentine criminal investigation

15 August 2019

As Argentina’s centre-right president Mauricio Macri suffers a shock defeat in a primary vote, a prosecutor in the country has opened a criminal investigation into the settlement of an ICSID case that is alleged to have financially benefited the president’s family.

Kyrgyzstan fights treaty claim over tax measures

Kyrgyzstan fights treaty claim over tax measures

14 August 2019

UK arbitrator John Beechey is chairing a treaty case at the Permanent Court of Arbitration brought against Kyrgyzstan by a Netherlands-based telecoms multinational over taxation measures, it has emerged – while the state may soon face a separate claim from an imprisoned Russian businessman.