Work Area: Investor-state arbitration

Mega-claim against Brazil to proceed

An arbitral tribunal has reportedly upheld jurisdiction over a third-party funded claim worth up to US$35 billion brought against Brazil by a minority shareholder in Petrobras over losses the state-owned oil company sustained as a result of the Lava Jato corruption probe.

25 November 2020

ICJ moonlighting controversy resumes

The controversy over International Court of Justice judges moonlighting as arbitrators has kicked off again, with an article alleging that Judge Peter Tomka has accepted appointments to investor-state tribunals despite ICJ guidelines against the practice.

25 November 2020

Panel told to rethink damages in Kazakh mining dispute

The Commercial Court in London has set aside the quantum findings in a US$50 million investment treaty award in favour of a Canadian mining company against Kazakhstan after ruling that the state was not given a fair opportunity to address damages.

24 November 2020

Chilean state entity threatens Ecuador

Chile’s state-owned copper company has threatened to file an investment treaty claim against Ecuador over the alleged failure of its national mining company to comply with agreements to develop a multibillion copper project near Quito.

24 November 2020

Yukos awards stayed in US

A US court has granted Russia a stay of enforcement on the US$50 billion Yukos awards while the state pursues its set aside bid in the Netherlands.

23 November 2020

Zambian court halts liquidation of mining venture

A court in Zambia has blocked proceedings brought by a Zambian state-owned entity to wind-up its copper mining joint venture with the UK’s Vedanta Holdings, pending the resolution of an UNCITRAL arbitration between the parties.

23 November 2020

Crimea creditors jostle over Russian assets

An entity linked to Ukrainian oligarch Igor Kolomoisky has failed in an unusual attempt to halt the enforcement of a US$1.1 billion award against Russia – as it races to collect on its own treaty award compensating it for expropriated assets in Crimea.

20 November 2020

ECJ hears calls to rule on ECT and Achmea

At a hearing in Luxembourg this week, the EU Commission and a number of member states called on the European Court of Justice to rule on whether the Achmea decision bars intra-EU investment arbitration under the Energy Charter Treaty - even though the dispute giving rise to the proceedings is between non-EU parties.

19 November 2020

UK oil company withdraws claim against Uganda

The UK’s Tullow Oil has withdrawn its ICSID claim against Uganda relating to a dispute over VAT after reaching a settlement with the state and its revenue authority.

19 November 2020

Libya overturns treaty award in Paris

The Paris Court of Appeal has set aside a French construction company’s €452 million ICC award against Libya after finding it was based on a fraudulent settlement agreement.

18 November 2020

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