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Venezuela’s challenge to ICSID award dries up

Venezuela’s challenge to ICSID award dries up

21 August 2019

An ICSID committee has discontinued proceedings brought by Venezuela to annul a US$42 million award in favour of a French investor after the state failed to make an advance payment of costs – while enforcement battles continue in the US courts.

Hewlett Packard spin-off leads to hefty award

Hewlett Packard spin-off leads to hefty award

20 August 2019

California-based IT company Hewlett Packard Enterprise, or HPE, has been ordered to pay US$666 million in an arbitration arising from the spin-off of its IT services division two years ago.

Jay-Z's Tidal threatens BIT claim against Norway

Jay-Z's Tidal threatens BIT claim against Norway

20 August 2019

Tidal, the online music service co-owned by US rapper Jay-Z, has threatened Norway with its first investment treaty claim – over the conduct of a criminal investigation into alleged manipulation of streaming figures.

Bulgaria gets costs after Omani fund withdraws claim

Bulgaria gets costs after Omani fund withdraws claim

20 August 2019

An ICSID tribunal has awarded Bulgaria the entirety of its costs following the withdrawal of an €80 million claim by an Omani sovereign wealth fund over the collapse of a bank.

Tips for those seeking third-party funding

Tips for those seeking third-party funding

19 August 2019

Charlie Lightfoot, chair of international arbitration at Jenner & Block, discusses recent developments in the third-party funding market and factors that parties should consider before entering into a funding arrangement.

NAFTA panel says GDPR doesn’t apply

NAFTA panel says GDPR doesn’t apply

19 August 2019

A tribunal at the Permanent Court of Arbitration has ruled that the EU’s General Data Protection Regulation doesn’t apply to investor-state arbitrations under the North American Free Trade Agreement – even when one of the arbitrators is based in the UK.

Who is sitting at ICSID?

Who is sitting at ICSID?

19 August 2019

Nine new ICSID panels have been formed in the past three months, with first-time appointments for former ICSID senior counsel Ucheora Onwuamaegbu and Spanish arbitrator Antonio Hierro.

ICSID unveils third draft of rule changes

ICSID unveils third draft of rule changes

19 August 2019

ICSID has published the third draft of proposed amendments to its procedural rules following consultation with states and the public over the past year – with further changes to provisions on transparency, security for costs and third-party funders.

Another hire for Vinson in New York

Another hire for Vinson in New York

19 August 2019

Jose Sanchez has joined Vinson & Elkins as counsel in New York, where he has been reunited with his former colleague and fellow Colombian national Camilo Cardozo, who made the switch from Paul Hastings last month.

Mega-award against Nigeria enforced in London

Mega-award against Nigeria enforced in London

16 August 2019

An English court has said it will permit a British Virgin Islands company to enforce a US$9.6 billion award against Nigeria arising from a failed gas deal – rejecting the west African state’s arguments that the arbitrators had granted “punitive” damages.