Work Area: Investor-state arbitration

ECJ dismisses London award in oil spill saga

Following what is thought to be the last reference from an English court pre-Brexit, the European Court of Justice has ordered that an €855 million Spanish court judgment over an oil spill in the Atlantic must be enforced in England and denied the jurisdiction of a sole arbitrator who issued “irreconcilable” rulings years earlier.

24 June 2022

Lahore cleaning contract lands Pakistan at ICSID

Two Turkish companies have filed an ICSID claim against Pakistan over a US$174 million contract for waste disposal services in the city of Lahore after their offices were reportedly raided by local authorities.

23 June 2022

Multi-billion attachment against Kazakh fund lifted in sovereign immunity ruling

The Hague Court of Appeal has lifted a US$5.2 billion attachment order imposed on Kazakhstan’s sovereign wealth fund as part of efforts to enforce an Energy Charter Treaty award against the state – as the Moldovan creditors instruct a new counsel team in the long-running dispute.

23 June 2022

ICSID releases new rules

ICSID has released its new rules for investment disputes, which will take effect in a week’s time – bringing to an end what it calls the “most significant procedural modernisation” in its history.

23 June 2022

Spain celebrates win on intra-EU objection

A Stockholm-seated tribunal has become the first to dismiss an intra-EU investment arbitration claim on jurisdictional grounds, upholding Spain’s argument that EU law trumped the Energy Charter Treaty in the dispute.

22 June 2022

Tribunal upholds Spain's intra-EU objection

BREAKING: For the first time ever, an investment arbitration tribunal has upheld a state's intra-EU objection, handing Spain a landmark jurisdictional win in one of the many renewables-related Energy Charter Treaty claims it has faced.

22 June 2022

Venezuela challenges “corrupted” Conoco annulment committee

Following arbitrator Kevin Kim’s resignation from an ICSID annulment committee hearing Venezuela’s bid to overturn a US$9 billion award in favour of ConocoPhillips, the state has challenged two more panel members on the basis that they were “corrupted” by his actions.

21 June 2022

"Mixed signals": EFILA looks at the future of foreign investment in Europe

Speakers at the latest European Federation for Investment Law and Arbitration conference in Amsterdam discussed the future of foreign direct investment in Europe in the wake of "anti-ISDS" decisions of the CJEU such as Achmea, Komstroy and PL Holdings.

21 June 2022

Young EFILA holds launch debate

The European Federation for Investment Law and Arbitration has launched a "Young EFILA" network for practitioners aged under 40, kicking off its activities with a debate on whether the European Union remains an attractive investment destination in the wake of AchmeaKomstroy and PL Holdings. 

21 June 2022

Indonesian energy company takes Libyan state entity to ICC

An Indonesian energy company has reportedly brought an ICC claim against the National Oil Company of Libya over a US$900 million oil and gas project disrupted by civil war in the North African state.

20 June 2022

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