Work Area: Investor-state arbitration

New Romania dispute has echoes of ‘Rompetrol’

Kazakhstan’s state-owned oil and gas company has filed a notice of dispute on Romania after it froze a local subsidiary’s assets in a corruption probe, raising the prospect of a sequel to Rompetrol’s eight-year-long ICSID claim against the state.

01 August 2016

Bribery prosecution in Romania triggers ICSID claim

An insurance and media tycoon convicted of bribing judges by the Romanian courts is the victim of a politically motivated campaign that has denied him urgent medical care, it is alleged in a new ICSID claim against the state.

29 July 2016

Crystallex less distressed after enforcement in Canada

A Toronto court has enforced a US$1.4 billion ICSID award in favour of distressed Canadian mining company Crystallex, which holds that Venezuela expropriated its investment in one of the world’s largest gold deposits.

28 July 2016

Montenegro wins second ICSID case

Montenegro has defeated a €600 million ICSID claim brought by an aluminium company owned by Russian oligarch Oleg Deripaska, after a tribunal ruled that the company’s Cypriot address was phoney and it had failed to establish its status as a foreign investor.

28 July 2016

ICSID claim against St Lucia dismissed

US oil company RSM’s US$200 million claim against the Caribbean state of Saint Lucia is at an end after the company failed to pay US$750,000 security for costs, as ordered by the tribunal in an ICSID first.

27 July 2016

Ecuador settles with Chevron over court delay

Ecuador has paid US$112 million to Chevron to honour a five-year-old investment treaty award that compensated the oil company for delays in the country’s court system.

25 July 2016

Crystallex funder backs Colombia claim

A New York private equity firm that reaped a record return by financing an ICSID case against Venezuela has agreed to fund a Canadian mining company’s looming treaty claim against Colombia.

25 July 2016

Shell takes on Philippines over back taxes

The Philippines is facing an ICSID claim brought by the Royal Dutch Shell over tax bills of US$1.1 billion that were retrospectively imposed on the country’s only natural gas project.

22 July 2016

Noteworthy strides at UNCITRAL

The latest session of the United Nations Commission for International Trade Law saw the adoption of revised Notes on Organising Arbitral Proceedings, updated for the first time in 20 years, a discussion of future work and the launch of a guide to the New York Convention.

20 July 2016

Famine does not frustrate contract, South Sudan told

The conflict and famine that marked the approach to South Sudan’s independence in 2011 were not grounds for declaring a contract frustrated, a Nairobi-seated tribunal ruled in a decision last year that has only recently came to light.

19 July 2016

Get unlimited access to all Global Arbitration Review content