Work Area: Investor-state arbitration

Chinese-Saudi telecoms dispute kicks off at ICSID

Saudia Arabia is facing an ICSID claim by a Hong Kong investor in a now-liquidated telecoms consortium that had its operating licence cancelled by the state.

27 July 2022

Uniper to withdraw ECT claim as part of German bailout

Uniper says it has agreed to withdraw a controversial Energy Charter Treaty claim against the Netherlands over climate change legislation as a condition of a €15 billion bailout from the German government, as the company struggles to cope with the steep drop in supplies of Russian gas.

25 July 2022

Award creditor targets Haiti assets held by US airline

A fuel importer that won a US$23 million award of security against Haiti last year has sought to attach state assets held by American Airlines until the arbitration is concluded.

25 July 2022

Russia loses challenge over lack of “reputable” counsel

Russia has failed to disqualify a tribunal hearing a Crimea-related treaty claim that refused to grant a six-month stay after the state’s counsel resigned, despite its argument that no new “reputable or experienced” representatives were immediately available.

22 July 2022

Russian state entity plans claim over Finnish nuclear project

Russian state entity Rosatom is preparing to launch an arbitration against a Finnish company that cited the war in Ukraine when it terminated a contract for work on a €7 billion nuclear power plant project.

22 July 2022

Venezuelan state entity dodges ICSID enforcement in Singapore

Singapore’s High Court has refused to allow one of Venezuela’s ICSID creditors to enforce a US$500 million-plus award against the assets of a state-owned entity facing US sanctions.

20 July 2022

Russia fails to quash jurisdictional awards in Crimea cases

UPDATED: A Dutch court has affirmed the jurisdiction of four UNCITRAL tribunals to hear Ukrainian investors’ treaty claims against Russia over assets in Crimea, including a US$10 billion claim by Naftogaz and others linked to oligarch Igor Kolomoisky.

19 July 2022

Kyrgyzstan ordered to pay Russian state hydro company

A Hong Kong-seated tribunal has ordered Kyrgyzstan to pay damages to a Russian state-owned hydroelectric company in a treaty claim over a frustrated project to build four power plants.

19 July 2022

Electricity consortium threatens Nigerian state agency

A consortium of investors in an electricity distributor in Nigeria has reportedly threatened to take the country’s privatisation agency to arbitration in the UK, accusing it of facilitating a forced takeover of the utility by a local lender.

19 July 2022

Luxembourg’s top court blocks Micula award

The Luxembourg Court of Cassation has quashed the enforcement of the Micula brothers’ ICSID award against Romania on the basis that the arbitration clause in the underlying investment treaty was nullified when the state joined the European Union.

18 July 2022

Get unlimited access to all Global Arbitration Review content