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Investment Arbitration

Italian brothers disappointed by damages against Romania

Italian brothers disappointed by damages against Romania

Premium article - 20 April 2017

Italian brothers Marco and Stefano Gavazzi are "very disappointed" after they were awarded a small fraction of the US$30 million damages sought from Romania in a dispute arising from the privatisation of a steel company.

Costa Rica tribunal acknowledges award error

Costa Rica tribunal acknowledges award error

Premium article - 20 April 2017

After rejecting a string of DR-CAFTA claims against Costa Rica last year on jurisdictional grounds, a tribunal has told the parties that the award contains a “factual error” regarding the status of litigation in the country and asked whether they should correct it or terminate the case.

Venezuela and Hungary seek to overturn ICSID awards

Venezuela and Hungary seek to overturn ICSID awards

Premium article - 20 April 2017

Venezuela has applied to annul a US$165 million ICSID award in favour of Luxembourg-based steelmaker Tenaris over a Chavez-era expropriation, while Hungary has asked an ad hoc committee to review a €23 million award in favour of French corporate services provider Edenred – in both cases adding new counsel to their teams.

Australia faces another investor-state claim

Australia faces another investor-state claim

Premium article - 20 April 2017

More than a year after seeing off a controversial investment treaty claim by Philip Morris, Australia is facing a claim under a trade agreement from a US power company over the alleged expropriation of turbine generators.

ICSID panel won’t call in Mounties

ICSID panel won’t call in Mounties

Premium article - 19 April 2017

An ICSID tribunal hearing gas producer Niko Resources’ claim against two Bangladeshi state entities has said it will not ask an Alberta court to compel the sharing of evidence obtained by the Royal Canadian Mounted Police during an investigation of alleged corruption by the claimant.

Mauritius Convention to enter force

Mauritius Convention to enter force

Premium article - 19 April 2017

The United Nations Convention on Transparency in Treaty-Based Investor-State Arbitration will enter force in October after Switzerland became the third state to ratify it, following Mauritius and Canada.

Tatneft takes Ukraine award to London and Moscow

Tatneft takes Ukraine award to London and Moscow

Premium article - 18 April 2017

Russian oil company Tatneft has added London and Moscow to the list of places where it is seeking to enforce a US$144 million investment treaty award against Ukraine.

Canadian province pays out on NAFTA award

Canadian province pays out on NAFTA award

Premium article - 18 April 2017

Canada has paid around US$21 million to a US investor to satisfy a NAFTA award after receiving the funds from the province whose moratorium on wind energy projects sparked the claim.

Kazakh state entity brings claim against Georgia

Kazakh state entity brings claim against Georgia

Premium article - 18 April 2017

Kazakhstan’s state-owned gas transportation company KazTransGas has made good on a threat to file a US$180 million treaty claim against Georgia over a project to develop the country’s natural gas network.

Iraq faces ICSID claim under Islamic treaty

Iraq faces ICSID claim under Islamic treaty

Premium article - 18 April 2017

Two months after Iraq was hit with its first ICSID case, the state is facing a second claim at the centre – brought by a group of telecoms investors under a multilateral investment treaty.