Work Area: Investor-state arbitration

US sanctions authority clears Korea to pay Iranian award

South Korea says the US Office of Foreign Assets Control has authorised it to pay an investment treaty award to an Iranian family despite US sanctions against Iran.

12 January 2022

Oligarch fails to revive treaty claim against Russia

Former banker Sergei Pugachev has failed to persuade a Spanish court to revive his US$14.5 billion investment treaty claim against Russia.

10 January 2022

Senegal faces new ICSID claim

Mauritian investors have brought an ICSID claim against Senegal over a €1 billion power plant project, months after the West African state lost its challenge to a €243 million UNCITRAL award in favour of a dual national.

10 January 2022

Miculas fail to revive alcohol claim against Romania

Sweden’s Micula brothers have failed to revive a US$2 billion ICSID claim against Romania over the state’s alleged failure to police its black market in alcohol.

06 January 2022

Croatia seeks to reopen award in bribery dispute

Croatia has said it will ask a Swiss court to review an UNCITRAL award in favour of Hungarian oil and gas group MOL in the wake of a corruption verdict against a former prime minister – as the Balkan state settles a separate dispute with a US investor.

06 January 2022

Telecoms investors seize Indian aviation funds

Mauritian investors in an Indian telecoms company have frozen US$30 million in aviation funds in their bid to collect on a treaty award against India – as they get the all-clear to pursue assets in Virginia.

05 January 2022

A win for Cameroon and other news at ICSID

Before the holiday break, Cameroon defeated an ICSID claim worth nearly US$1 billion and new claims were filed against Mali, Guyana, Peru and Hungary – while Italy failed again to knock out an Energy Charter Treaty case.

04 January 2022

Court finds Kazakhstan bound by Soviet treaty

A UK court has ruled that a US$917 million arbitration against Kazakhstan can proceed after all, finding that an eminent UNCITRAL tribunal was distracted by “irrelevant material” when it found the state was not bound by an investment treaty signed by the former Soviet Union.

04 January 2022

Spain faces new enforcement actions

Investors have launched two new US court actions against Spain to enforce Energy Charter Treaty awards compensating them for reforms to the country’s renewable energy regime.

17 December 2021

What the Dutch Supreme Court decided in the Yukos case

Stan Putter of Smallegange Lawyers explains why the recent Dutch Supreme Court judgment on the US$50 billion Yukos awards against Russia didn’t bring the closure the parties were expecting and leaves the status of the awards “ambiguous”.

17 December 2021

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