Work Area: Investor-state arbitration
Mexican utility liable in LCIA dispute over power plant
An LCIA tribunal has ordered Mexico’s state-owned electric utility to pay US$22 million to a consortium of Spanish construction companies for cost overruns at a power plant project – as details emerge of a separate award issued against the utility last year.
04 October 2022
French court won’t revive treaty claim against Venezuela
The Paris Court of Appeal has refused to resurrect a US$600 million BIT claim brought by two real estate investors against Venezuela, ruling the arbitrators were right to find the treaty’s offer of UNCITRAL arbitration was “obsolete”.
03 October 2022
Sultan’s heirs take Malaysia mega-award to the Netherlands
The heirs to a sultanate on the island of Borneo have asked a Dutch court to enforce their US$15 billion award against Malaysia.
30 September 2022
Portuguese investor gets damages in Spain solar case
An ICSID tribunal has ordered Spain to pay €9 million plus interest to a Portuguese investor over reforms to its renewable energy subsidy regime.
30 September 2022
LCIA hears another Kurdistan oilfield dispute
The Kurdistan regional government of Iraq is bringing an LCIA claim against a London-listed oil company after terminating two production-sharing contracts.
30 September 2022
Ukraine war will fuel energy disputes, hears GAR Live
A panel at GAR Live Energy Disputes in Edinburgh considered the increasingly volatile global energy market resulting from the war in Ukraine, including the resurgence of fossil fuel and potential investment treaty claims.
29 September 2022
Venezuela fails to disqualify “corrupted” Conoco panel members
Venezuela has failed to disqualify two members of an ICSID committee hearing its bid to overturn a US$9 billion award won by ConocoPhillips, after Ian Binnie KC found no substance to allegations that the pair and the proceeding as a whole had been “corrupted” by departing panellist Kevin Kim.
28 September 2022
Burford backs revived Nigerian hydro claim
Burford Capital is funding an ICC claim against Nigeria reportedly worth US$400 million arising from the purported settlement of a prior arbitration over a hydropower project.
27 September 2022
Greenland avoids interim measures in mining dispute
An Australian company bringing an arbitration against Greenland over a uranium mining ban has failed to get interim measures to restrain the island country from making a final decision on its bid for an exploitation licence.
26 September 2022
“Zero legitimacy”: investment court under fire at ICCA
A session on ISDS reform at the ICCA Congress heard criticism of plans for a multilateral investment court and shed light on recent discussions at UNCITRAL, including a “rebellion” by some developed states against a proposal to curb double hatting.
26 September 2022