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Investment Arbitration

PCA hears claim against Moldovan road authority

PCA hears claim against Moldovan road authority

31 October 2019

A tribunal at the Permanent Court of Arbitration is hearing a Romanian construction company’s claim against Moldova’s road authority over a cancelled highway rehabilitation contract.

Mozambique fails in “extra-EU BIT” objection

Mozambique fails in “extra-EU BIT” objection

30 October 2019

An ICSID tribunal has rejected an Italian roadbuilder’s claim against Mozambique after dismissing the state’s objection that the Achmea decision precluded it from hearing a dispute under a bilateral investment treaty between an EU member state and a third country.

Greece pays out in dispute with Olympics contractor

Greece pays out in dispute with Olympics contractor

30 October 2019

Greece has paid €53 million to a US defence contractor to satisfy an ICC award over a security system commissioned for the 2004 Olympic Games after failing to have the result set aside on grounds of corruption.

ICSID committee lifts stay on Spain solar award

ICSID committee lifts stay on Spain solar award

30 October 2019

An ICSID annulment committee has lifted a stay of enforcement of an €101 million Energy Charter Treaty award against Spain – labelling the state’s arguments on conflicting international laws a “legal quagmire” of its own making.

EU states agree treaty to terminate intra-EU BITs

EU states agree treaty to terminate intra-EU BITs

28 October 2019

A majority of EU member states have reached an agreement on a multilateral treaty to terminate their intra-EU bilateral investment treaties, as the European Commission threatens infringement proceedings against the minority that have refused to endorse the text.

Russia fails to stay enforcement of Crimea award

Russia fails to stay enforcement of Crimea award

25 October 2019

The Paris Court of Appeal has refused to grant Russia a stay of enforcement of a US$1.1 billion treaty award in favour of a Ukrainian bank over expropriated assets in Crimea while it considers the state's application to set it aside.

Colombia seeks annulment of Glencore award

Colombia seeks annulment of Glencore award

24 October 2019

Colombia will seek annulment of an ICSID award that ordered the state to return a US$19 million payment by Swiss commodities trader Glencore, citing the tribunal’s failure to properly consider allegations of corruption.

South Korea wins first treaty case

South Korea wins first treaty case

23 October 2019

South Korea has had its first-ever win in an investment treaty arbitration, defeating an HKIAC-administered claim brought by a naturalised US citizen who said her residential property was expropriated.

Ukraine fails in appeal over enforcement in Russia

Ukraine fails in appeal over enforcement in Russia

23 October 2019

The Russian Supreme Court has declined to hear an appeal by Ukraine against a decision that enforced a US$112 million investment treaty award against assets the state holds in Russia.

Berlin boutique hires from Lalive

Berlin boutique hires from Lalive

23 October 2019

Berlin disputes boutique Wagner Arbitration has hired Laura Halonen, who has helped defeat treaty claims against Turkey and Mauritius, as of counsel from Lalive.