Work Area: Investor-state arbitration

Nigeria can plead fraud case against mega-award

The Commercial Court in London has ruled that Nigeria can pursue a late challenge to a US$10 billion award over a failed gas project, ruling there is a “strong prima facie case” that it was tainted by corruption, perjury and dishonest conduct.

04 September 2020

Mexican taxi tech investors escape contempt ruling

A US court has rejected a bid by the founders of a Mexican taxi technology venture to have their former partners held in civil contempt for allegedly breaching an injunction granted last year in aid of an ICC arbitration.

04 September 2020

Veeder’s last words on Achmea

In one of the late Johnny Veeder QC’s last decisions as arbitrator, a tribunal at ICSID has agreed to hear an intra-EU BIT claim against Poland brought by Austrian investors in a pair of hotels – concluding that EU law did not apply to the question of its jurisdiction.

03 September 2020

Iberdrola barred from bringing second claim against Guatemala

An UNCITRAL tribunal has declined to hear an investment treaty case brought by Spain’s Iberdrola against Guatemala over electricity tariffs on the basis that the company had raised identical claims in an unsuccessful ICSID arbitration.

03 September 2020

Iranian family obtains freeze on South Korean assets

An Iranian family has attached shares in a UK subsidiary of South Korea’s national oil and gas company as they seek to enforce a US$63 million investment treaty award – while threatening a new treaty claim over measures taken against them by the Korean courts.

03 September 2020

India threatened over billion-dollar housing project

A Dubai-based housing developer reportedly backed by royal families in the Gulf has threatened to bring an investment treaty claim against India over a proposal to retender a billion-dollar real estate project.

02 September 2020

Australia announces review of BITs

The Australian government has announced it is reviewing the country’s bilateral investment treaties and has invited submissions from interested parties.

02 September 2020

Singapore puts forward law reform bill

Singapore’s Ministry of Law has tabled amendments to the city-state’s international arbitration law that would introduce a default mode for appointment of arbitrators in multi-party disputes and strengthen powers to enforce confidentiality obligations.

02 September 2020

Banker renews threat against Montenegro

A banker accused of criminal offences in Montenegro has renewed his threat to bring a €500 million investment treaty claim against the Balkan state – over what he calls politically motivated actions taken against him.

02 September 2020

Spain solar case moves to damages phase

A divided ICSID tribunal has found that Spain will be liable over reforms to its renewable energy subsidy regime to the extent that they fell short of providing a Portuguese solar investor with a reasonable return on its investments.

01 September 2020

Get unlimited access to all Global Arbitration Review content