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Investment Arbitration

Conoco wins US$9 billion in Venezuela claim

Conoco wins US$9 billion in Venezuela claim

08 March 2019

US oil company ConocoPhillips has been awarded nearly US$9 billion plus interest in an ICSID claim against Venezuela over the expropriation of oil assets in the Orinoco Belt, ending a fraught 12-year proceeding that saw multiple changes to the tribunal.

Who is sitting at ICSID?

Who is sitting at ICSID?

08 March 2019

The past two months have seen 15 panels formed at ICSID, including first-time appointments for Isabelle Coutant Peyre, Nathalie Voser, Bo Nilsson, Pascal Hollander and Ioannis Vassardanis.

Challenge against Vattenfall arbitrators rejected

Challenge against Vattenfall arbitrators rejected

08 March 2019

UPDATED WITH LINK TO DECISION: Germany has failed to unseat all three members of an ICSID tribunal hearing a €4.7 billion claim claim filed by Swedish investor Vattenfall over the country’s phase-out of nuclear energy.

Italian court allows enforcement against Kazakhstan

Italian court allows enforcement against Kazakhstan

06 March 2019

An Italian court has permitted Moldovan investors to enforce a US$530 million Energy Charter Treaty award against Kazakhstan despite the state’s allegations that it was obtained by fraud.

Czech Republic faces ECT threat from coal producer

Czech Republic faces ECT threat from coal producer

05 March 2019

The liquidators of a Central European hard coal producer have threatened the Czech Republic with an Energy Charter Treaty claim worth hundreds of millions of euros after its local operations were sold to a state-owned entity following an insolvency process.

Treaty claim over telecoms fails at ICC

Treaty claim over telecoms fails at ICC

05 March 2019

An ICC tribunal has dismissed a US$475 million treaty claim against Poland brought by entities linked to one of its wealthiest nationals over measures relating to the allocation of mobile internet spectrum.

Mining company seeks to enforce against Bolivia

Mining company seeks to enforce against Bolivia

04 March 2019

A subsidiary of Canada’s TriMetals Mining has asked a US court to enforce an US$18.7 million investment treaty award that held Bolivia liable for nationalising a silver mining project targeted by protests from indigenous communities.

Treaty award against Ukraine enforced in Russia

Treaty award against Ukraine enforced in Russia

01 March 2019

A Russian oil and gas producer has won permission to enforce a US$112 million investment treaty award against Ukrainian state assets in Russia.

Russia liable for seizure of Naftogaz assets in Crimea

Russia liable for seizure of Naftogaz assets in Crimea

01 March 2019

Ukrainian state-owned energy company Naftogaz says it has prevailed on liability in an investment treaty claim against Russia concerning the seizure of assets in Crimea – with a US$5 billion damages claim still to be decided.

Iraqi ex-minister too late to challenge treaty award

Iraqi ex-minister too late to challenge treaty award

28 February 2019

A former Iraqi government minister has been denied permission to pursue a belated challenge to an investment treaty award in favour of Pakistan in the English courts – as it emerges that a parallel set-aside action funded by Burford Capital has been discontinued.