Work Area: Investor-state arbitration

Resort developer takes Grenada to ICSID

The developer of a five-star hotel resort on the Caribbean island of Grenada has filed an ICSID claim alleging that the state has tried to “squeeze the project’s finances into failure” by slashing its budget and amending the terms of a citizenship scheme for foreign investors.

18 June 2021

Chinese investor launches second claim against Ghana

As a tribunal is formed to hear a Chinese construction company’s investment treaty claim against Ghana, the same investor has launched a related LCIA arbitration against the west African state over the cancellation of its contract to develop an intelligent traffic management system.

17 June 2021

ICSID urges approval of latest draft rule changes

ICSID has published its latest working paper on proposed amendments to its rules – including changes on ownership and control, third-party funding and costs – and has called on member states to vote on the draft by the end of the year.

17 June 2021

Second insurer threatens Chile over pension reforms

A subsidiary of Switzerland’s Zurich Insurance has become the second investor to threaten Chile with a treaty claim over reforms to its private pension system.

16 June 2021

Senegalese roadbuilder enforces award against Guinea

A US court has confirmed a Senegalese company’s ICC award against Guinea over a project to upgrade an airport road network, after the state failed to appear.

15 June 2021

King & Spalding sued by client in funded BIT case

A Dutch national who won a US$45 million investment treaty award against Vietnam is suing his arbitration counsel King & Spalding, accusing the firm of colluding with third-party funder Burford Capital to cheat him out of his due share of the proceeds.

15 June 2021

Ghana too late to challenge power plant award

UPDATED: The Commercial Court in London has refused to allow Ghana to bring a belated challenge to an UNCITRAL award worth over US$134 million in favour of a power contractor, ruling that national elections and covid-19 did not make the state's delay reasonable.

11 June 2021

Ukrainian Supreme Court blocks Firtash award

Ukraine’s Supreme Court has blocked enforcement of a US$260 million Stockholm Chamber of Commerce award obtained by a company owned by Ukrainian billionaire Dmytro Firtash against the state-owned operator of a fertiliser plant on the Black Sea.

11 June 2021

Insurer pursues treaty claim against Bolivia over pension reforms

An UNCITRAL tribunal has begun hearing a Swiss insurance company’s claim against Bolivia over the nationalisation of its pension system.

09 June 2021

Reliance and Shell win another round in Indian oilfield dispute

India has challenged a partial award permitting Reliance and a Royal Dutch Shell subsidiary to recover further development costs for an offshore oilfield - in a US$5 billion arbitration that has lasted more than a decade

08 June 2021

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