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Investment Arbitration

Who is sitting at ICSID?

Who is sitting at ICSID?

Premium article - 31 May 2016

The latest round of tribunals formed at ICSID has seen first-time appointments for English former judge Sir Stanley Burnton QC and French academic Hélène Ruiz Fabri, with second appointments for four others.

Panel forbids duplicate claims in Egyptian gas dispute

Panel forbids duplicate claims in Egyptian gas dispute

Premium article - 25 May 2016

UPDATED: An ICSID tribunal has ruled that a group of gas investors did not act in bad faith by bringing claims against Egypt in multiple arbitrations but that they cannot pursue duplicate claims over the same shares in two treaty cases.

Ecuador held liable again over windfall oil profits levy

Ecuador held liable again over windfall oil profits levy

Premium article - 17 May 2016

An UNCITRAL tribunal has ordered Ecuador to pay more than US$30 million to US company Murphy Oil after ruling that the state’s 99 per cent levy on windfall oil profits breached a bilateral investment treaty.

Argentina to settle more treaty awards

Argentina to settle more treaty awards

Premium article - 16 May 2016

Continuing a recent trend of settling investor disputes, Argentina has announced it will pay US$217 million to satisfy two investment treaty awards – including one that gave rise to high-profile US Supreme Court proceedings.

Italian arbitrator disqualified after bribery challenge

Italian arbitrator disqualified after bribery challenge

Premium article - 12 May 2016

An Italian arbitrator accused of taking a bribe to determine the outcome of a €3 billion dispute between a US insurer and its former business partner has been removed from the case by a court in Milan.

Montenegro wins first ICSID case

Montenegro wins first ICSID case

Premium article - 06 May 2016

Montenegro has prevailed in a dispute with Netherlands-registered investors in a bankrupt steel plant that was filed just months after the state signed the ICSID Convention in 2012.

Russian republic brings treaty claim against Ukraine

Russian republic brings treaty claim against Ukraine

Premium article - 05 May 2016

The Russian republic of Tatarstan has filed a US$300 million treaty claim against Ukraine over the state’s alleged complicity in the takeover of an oil refinery, as claims brought against Russia by Ukrainian investors in Crimea progress in The Hague.

TREATY COLUMN: How is an agreement to arbitrate formed?

Premium article - 03 May 2016

An ICSID tribunal that recently dismissed a claim against Turkmenistan adopted a novel test to determine whether compliance with a treaty’s local litigation requirement was an issue of jurisdiction or admissibility. Linklaters partner Matthew Weiniger QC and associate Stephanie Tang in London report

Ukrainian court told to reconsider emergency award

Ukrainian court told to reconsider emergency award

Premium article - 29 April 2016

A Kiev appeal court that blocked the enforcement of an emergency arbitration award against Ukraine over gas royalties has been ordered to reconsider its ruling – as new counsel come on board for a related Energy Charter Treaty claim.

Venezuela must pay for stay, says committee

Venezuela must pay for stay, says committee

Premium article - 22 April 2016

An ICSID annulment committee has refused to lift a stay of enforcement on a US$34 million award in favour of investors in a Caribbean airport – but ordered Venezuela to post an “unconditional and irrevocable” bank guarantee for the full amount of the award plus interest and costs.