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Investment Arbitration

Claim under Caribbean treaty clears hurdle

Claim under Caribbean treaty clears hurdle

17 July 2020

An UNCITRAL tribunal has said it can hear a Jamaican businessman’s US$600 million investment treaty claim against the Dominican Republic under its trade agreement with the Caribbean Community – as a dissenting arbitrator says it takes “a lot of imagination” to believe the state had clearly consented to arbitrate in the treaty.

Mexico claims line up at ICSID

Mexico claims line up at ICSID

16 July 2020

A Dutch bank has launched an ICSID claim against Mexico over an investment in the maritime transport sector – as the centre also takes on the administration of an US$80 million UNCITRAL claim against the state brought by a group of real estate investors.

Mayer challenged over ties to Cameroon

Mayer challenged over ties to Cameroon

16 July 2020

A US company bringing a billion-dollar claim against Cameroon at ICSID has applied to disqualify Pierre Mayer as arbitrator over his alleged links with the central African state.

Miculas seek to revive ICSID claim against Romania

Miculas seek to revive ICSID claim against Romania

15 July 2020

Sweden’s Micula brothers have launched ICSID annulment proceedings in a bid to revive a US$2 billion claim over the state’s alleged failure to police its black market in alcohol.

Thai company files new claim against Laos

Thai company files new claim against Laos

15 July 2020

A Thai coal-mining company has made good on its threat to file a new UNCITRAL claim worth US$450 million against Laos over the termination of a power plant project, after a prior award it won over the same matter was set aside by the Malaysian courts.

Tanzania hit with mining claim

Tanzania hit with mining claim

14 July 2020

A Canadian mining company has made good on its threat to file an investment treaty claim against Tanzania over the revocation of a project licence – reaching an agreement in principle with a third-party funder.

Dutch court lifts freeze on Egyptian property

Dutch court lifts freeze on Egyptian property

13 July 2020

A Dutch court has lifted an attachment over an unoccupied property in The Hague that was frozen at the request of a Finnish businessman seeking to enforce an investment treaty award against Egypt, after the state said it planned to use the building as its ambassador’s residence once again.

Kenya declares win in geothermal energy dispute

Kenya declares win in geothermal energy dispute

13 July 2020

Kenya says it has defeated an ICSID claim worth US$340 million brought by a US-Canadian energy company over the revocation of a licence for a geothermal energy project.

Attachment of Kazakh assets lifted in Sweden

Attachment of Kazakh assets lifted in Sweden

13 July 2020

A Stockholm appeal court has overturned the attachment of US$85 million in Kazakh funds obtained by Moldovan investors seeking to enforce a US$543 million Energy Charter Treaty award – ruling that assets held by a central bank are subject to sovereign immunity under international law.

Gazprombank v Belarus: the value of requiring direct evidence to support illegality allegations

Gazprombank v Belarus: the value of requiring direct evidence to support illegality allegations

13 July 2020

Following Gazprombank’s recent threat to pursue a claim against Belarus over actions taken in a controversial and politically sensitive money-laundering investigation, Nikhil Gore and Amanda Tuninetti of Covington & Burling highlight the value of investment tribunals requiring direct evidence to support a state’s allegations of corruption and illegality against an investor.