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Investment Arbitration

Colombia will face billion-euro power claim

Colombia will face billion-euro power claim

Premium article - 16 March 2017

Spanish energy company Gas Natural Fenosa is on the brink of filing a threatened investment treaty claim against Colombia reported by GAR last year to recover €1.3 billion in electricity payments owed by customers near the country's Caribbean coast.

Singapore service ruling delays enforcement against Lesotho

Singapore service ruling delays enforcement against Lesotho

Premium article - 16 March 2017

As Lesotho faces a second arbitration brought by South African mining investors, the claimants have won leave to enforce a costs award from an earlier proceeding in Singapore – but have been blocked from serving notice on the state except through diplomatic channels because of state immunity law.

Romania paves way for intra-EU BITs termination

Romania paves way for intra-EU BITs termination

Premium article - 15 March 2017

Romania is set to enact a law terminating its bilateral investment treaties with other European Union countries following criticisms by the European Commission that they contradict EU law and the principles of the single market.

Czech Republic wins against British investors

Czech Republic wins against British investors

Premium article - 13 March 2017

The Czech Republic has won two related cases at the Stockholm Chamber of Commerce brought by British investors in a car parts distributor, the latest in a series of awards issued this year under the state’s bilateral investment treaty with the UK.

Costa Rica wins second ICSID case this year

Costa Rica wins second ICSID case this year

Premium article - 13 March 2017

Fresh from a win against a Spanish investor, Costa Rica has defeated a US$75 million ICSID claim brought by one of Mexico’s wealthiest families over alleged price-fixing in the liquefied petroleum gas market.

Exxon sees US$1.4 billion chopped from Venezuela award

Exxon sees US$1.4 billion chopped from Venezuela award

Premium article - 10 March 2017

An ICSID annulment committee has dramatically chopped US$1.41 billion from an award won by ExxonMobil against Venezuela, holding that the damages were granted based on contradictory reasoning, “straw man” arguments and the assertion of powers under international law that were not mandated by the relevant bilateral investment treaty.

Central Asian ICSID case to go ahead as counsel criticised

Central Asian ICSID case to go ahead as counsel criticised

Premium article - 10 March 2017

An ICSID tribunal has accepted jurisdiction over a claim relating to the nationalisation of two cement plants by Uzbekistan despite allegations of corruption – and, in a believed ICSID first, ordered the state to pay costs because of the conduct of its counsel, White & Case.

Off the tee but out of bounds – ICSID tribunal dismisses claim against China

Off the tee but out of bounds – ICSID tribunal dismisses claim against China

Premium article - 10 March 2017

In the first ICSID case against China to reach an award, a tribunal chaired by Lucy Reed has ordered the early dismissal of a claim brought by a South Korean investor in a golf course on the grounds that it fell outside the limitation period of the China-Korea bilateral investment treaty.

Kazakhstan defeats London set aside attempt

Kazakhstan defeats London set aside attempt

Premium article - 09 March 2017

An English court has upheld a three-and-a-half-year-old UNCITRAL award that denied jurisdiction over a poultry investor’s claim against Kazakhstan that had its roots in a feud in the country’s ruling family.

Crimea cases against Russia to proceed

Crimea cases against Russia to proceed

Premium article - 09 March 2017

A tribunal at the Permanent Court of Arbitration has held that it has jurisdiction to hear claims brought by Ukrainian investors in Crimea in the wake of the peninsula's annexation by Russia in 2014 – in two of eight known cases raising the question of the applicability of the Ukraine-Russia bilateral investment treaty.