Work Area: Investor-state arbitration
Texas investor brings ICSID claim against Peruvian state entity
A Texas-based energy company has brought an ICSID claim against a Peruvian state entity that allegedly refused to extend a licence agreement for oil and gas exploration.
14 July 2022
Madrid utility threatens Colombia over corruption investigation
A publicly owned Madrid water utility has threatened Colombia with an investment treaty claim after its assets were frozen as part of a corruption investigation – a dispute that has already seen the Spanish government intervene.
13 July 2022
A look at ICSID’s new transparency rules
Gary Shaw of Pillsbury in Washington, DC, considers the recent amendments to ICSID’s transparency rules that took effect at the start of this month, arguing they provide greater access to arbitration while preserving party control.
13 July 2022
Malaysia gets stay of mega-award as assets frozen in Luxembourg
A French court has granted Malaysia a stay of a US$15 billion award won by heirs to a sultanate on the island of Borneo after finding its enforcement could infringe on the country’s sovereignty – as the heirs secure an attachment over Luxembourg subsidiaries of the Malaysian national oil company.
12 July 2022
Lithuania defeats claim over bank nationalisation
An UNCITRAL tribunal has thrown out a US$300 million treaty case against Lithuania after ruling that a Russian fund could not bring the claim on behalf of the former majority shareholder of a nationalised bank.
12 July 2022
Italian contractor liable in Georgian highway dispute
An ICC tribunal has ordered an Italian construction company to pay around US$22 million to Georgia in a dispute over a terminated highway construction project.
11 July 2022
Malaysian state telecoms company beats SIAC claim
Malaysia’s state-owned telecoms company says it has defeated a US$34.5 million SIAC claim brought by a Singapore-registered IPTV services provider, also winning a counterclaim for misrepresentation.
08 July 2022
Papua New Guinea faces ICSID claim over telecoms tax
A telecoms company founded by an Irish billionaire has filed an ICSID claim against Papua New Guinea after being hit with a US$100 million tax demand that it says is holding up the US$1.6 billion sale of its operations in the Pacific region.
07 July 2022
Croatia liable at ICSID after failing to prove bribery
An ICSID tribunal has ordered Croatia to pay US$184 million plus interest to Hungarian oil and gas group MOL after rejecting allegations that the claimant’s CEO paid bribes to a former prime minister – while dismissing the rest of the investor's billion-dollar claim.
06 July 2022
Peru sees off bulk of ICSID claim over highway project
Peru says it has knocked out most of a US$150 million ICSID claim by a construction contractor over a delayed project to improve a stretch of the Pan-American highway.
05 July 2022