Work Area: Investor-state arbitration

Spain partly liable over solar reforms

Another ICSID tribunal has found Spain partly liable under the Energy Charter Treaty for reforms to its renewable energy regime, ruling that investors were entitled to a reasonable rate of return but had no unalterable right to a fixed tariff.

15 September 2021

Iraqi ministry liable over power plant repairs

A Canadian company has applied to a US court to enforce an award against Iraq’s ministry of electricity over power plant repairs – a dispute that saw the original sole arbitrator resign for “personal reasons” after the ICC Court twice refused to approve his draft award.

15 September 2021

GE settles claim over Estonian power plant

GE will pay €30 million to settle a Stockholm Chamber of Commerce claim brought by an Estonian state-owned entity over delays at an oil shale power plant.

15 September 2021

Air Canada lands win against Venezuela

Air Canada has secured a US$26 million ICSID additional facility award against Venezuela over the state’s failure to convert its bolivar-denominated earnings to US dollars so that they could be repatriated.

14 September 2021

Colombia liable in high-mountain mining dispute

A divided ICSID tribunal has found Colombia liable in a US$700 million claim brought by a Canadian mining company that was deprived of its right to operate within an environmental preservation zone.

13 September 2021

Nigeria fights to reverse Chinese investor’s treaty win

Nigeria has asked a UK court to overturn the first known investment treaty award won by a mainland Chinese investor against an African state, in a dispute over a soured joint venture to develop a free trade zone near Lagos.

13 September 2021

Singapore court upholds duty to consider corruption

The Singapore International Commercial Court has upheld two BIT awards favouring Laos in a billion-dollar dispute with two gaming companies, ruling that arbitrators have a “public duty” to review evidence of corruption presented to them.

10 September 2021

Rwanda threatened over seizure of gold refinery

A Belgian business magnate has threatened Rwanda with a US$50 million ICSID claim, alleging his refinery was subject to a “hostile take-over” and the seizure of gold bars by state authorities.

09 September 2021

Egyptian investors threaten Ethiopia over civil war disruption

Two Egyptian manufacturers have threatened to file a treaty claim against Ethiopia after allegedly sustaining up to US$40 million in losses due to disruption caused by an ongoing civil war in the country.

09 September 2021

Saudi Arabia secures first ICSID win

Saudi Arabia has secured its first ever ICSID win after defeating a US$570 million claim brought by a French fashion and restaurant chain on jurisdiction.

08 September 2021

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