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Investment Arbitration

Ecuador hit by claim over tax measures

Ecuador hit by claim over tax measures

18 May 2018

The operator of a major Ecuadorean oil pipeline has filed for arbitration against the government in a dispute over tax measures.

Spain defeated in first intra-EU ICSID award since Achmea

Spain defeated in first intra-EU ICSID award since Achmea

17 May 2018

COUNSEL AND AWARD ADDED. Spain has been ordered to pay €64.5 million following another defeat in an Energy Charter Treaty arbitration arising from reforms to its renewable power sector, with the tribunal also ruling that that the recent judgment in Achmea does not apply to multilateral treaties like the ECT.

Algeria faces PCA claim from Italian telecoms investor

Algeria faces PCA claim from Italian telecoms investor

15 May 2018

An insolvent Italian-based telecommunications group is bringing an UNICTRAL claim against Algeria at the Permanent Court of Arbitration, alleging that it failed to pay for a US$100 million fibre optic project during a time of political unrest.

Togo and Bangladesh hit by ICSID claims

Togo and Bangladesh hit by ICSID claims

15 May 2018

Togo and Bangladesh have been hit by contract-based ICSID claims brought by home-registered companies, in the first case a port operator and in the second a power plant operator.

Kazakhstan creditors can’t pull out of fraud trial, rules judge

Kazakhstan creditors can’t pull out of fraud trial, rules judge

11 May 2018

The High Court in London has ruled that allegations that a US$520 million Stockholm Chamber of Commerce award against Kazakhstan was obtained through fraud must proceed to trial despite the claimants’ decision to abandon enforcement proceedings in England and Wales.

Treaty award issued against Libya, after  “wrong government” argument fails

Treaty award issued against Libya, after “wrong government” argument fails

10 May 2018

An ICC investment treaty claim brought by a French construction company over a contract to build schools in Libya in the 1970s has reached a final award, with the tribunal ordering the state to pay US$452 million in line with a settlement that its counsel argued was null and void because it was signed by the “wrong” Libyan government.

ICSID creditor targets Venezuelan “alter egos”

ICSID creditor targets Venezuelan “alter egos”

09 May 2018

Two months after its US$1.37 billion ICSID award against Venezuela was confirmed in the US, Canadian mining company Rusoro has asked a Texas court to help enforce against the country’s national oil and gas company PDVSA and other “alter egos” of the state which it accuses of fraudulently transferring assets abroad to escape the reach of arbitral creditors.

Russia held liable for Crimea real estate seizures

Russia held liable for Crimea real estate seizures

09 May 2018

A group of Ukrainian investors have won more than US$159 million in a claim against Russia over expropriated real estate in Crimea – marking the first time the state has been held liable for the seizure of assets in the territory it annexed four years ago.

Hochtief files claim against Saudi Arabia

Hochtief files claim against Saudi Arabia

08 May 2018

German construction company Hochtief has filed a claim against Saudi Arabia believed to relate to the expansion of an airport in Riyadh, the third ICSID case faced by the Middle Eastern state in just over six months.

Vodafone goes ahead with treaty claim against India

Vodafone goes ahead with treaty claim against India

08 May 2018

A Delhi court has permitted two investment treaty arbitrations between Vodafone and India over a retroactive tax bill to continue, after declining to restrain the mobile phone company from pursuing the most recent of its claims on abuse of process grounds.