Work Area: Investor-state arbitration

Meydan racetrack award upheld in Dubai

A special committee formed to resolve disputes involving UAE real estate developer Meydan has upheld a US$313 million DIAC award won by a Malaysian property company over a cancelled contract to build a racecourse.

18 January 2021

Georgia faces renewed claim over oil and gas block

A Gibraltar entity has threatened to bring a US$22 million Energy Charter Treaty claim against Georgia over an oil and gas block – more than a year after its Australian parent company withdrew an ECT claim over the same project.

15 January 2021

Crystallex can proceed with sale of PDVSA refinery

A Delaware court has granted Canadian miner Crystallex permission to sell shares in the US refinery business owned by Venezuela’s national oil and gas company PDVSA, saying each day the creditor cannot collect its US$1.6 billion ICSID award is an “affront” to the US judicial system.

15 January 2021

Satellite investors seek to enforce treaty award against India

Mauritian investors have applied to a US court to enforce a US$111 million investment treaty award against India over a cancelled satellite telecoms deal – months after the enforcement of a billion-dollar ICC award related to the same project.

13 January 2021

Asset hunter secures payout from Pakistan

Pakistan has paid US$28.7 million to satisfy an award won by an Isle of Man entity that it hired nearly two decades ago to trace assets belonging to the country’s disgraced former prime minister Nawaz Sharif.

13 January 2021

Chile defeats ICSID claim over bus network

An ICSID tribunal has dismissed a US$354 million claim against Chile brought by Colombian investors in a concession for a public bus system in Santiago, finding that the impact of fare evasion and vandalism did not amount to indirect expropriation by the state.

12 January 2021

Turkish investor withdraws claim against Libya

UPDATED. A Turkish national has withdrawn his US$69 million ICC claim against Libya over his investments in construction projects disrupted by the country’s civil war.

11 January 2021

Tanzania faces latest claim over mining reforms

Tanzania is now facing three ICSID cases over the state's alleged revocation of mining licences after a Canadian company became the latest to make good on an earlier threat to bring a claim.

11 January 2021

Lithuanian investor brings claim against Belarus

Lithuania’s Modus Group has lodged an ICSID claim against Belarus over a project to build a luxury hotel next to the country’s main airport.

11 January 2021

Albania creditors freeze aviation funds

Italian businessman Francesco Becchetti and several other investors have seized funds held by a Brussels-based international aviation body to satisfy a €110 million ICSID award against Albania.

08 January 2021

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