Work Area: Investor-state arbitration

Madagascar seeks annulment of clothes factory award

Madagascar has applied to annul a €7 million ICSID award won by two Belgian brothers whose clothes factory was looted and burned down during civil unrest – four years after the state successfully set aside a previous investment treaty award won by the same investors.

24 August 2020

Ponzi scheme victims move ahead with US treaty claims

Over seven years after originally filing their claims, it has emerged that victims of a Ponzi scheme devised by convicted fraudster Allen Stanford are moving ahead with investment treaty arbitrations against the US – collectively seeking over US$511 million in damages.

21 August 2020

German lender’s ICSID claim clears hurdle

A divided ICSID panel has upheld jurisdiction over a German lender’s Energy Charter Treaty claim against Spain – finding, in an apparent first, that project financing provided by a third party amounted to a qualifying investment.

21 August 2020

Panama defeats tyre trademark claim

AWARD NOW PUBLIC. Panama has defeated a US$20 million ICSID claim brought by two US subsidiaries of Japanese tyre manufacturer Bridgestone in a dispute over trademark licensing.

20 August 2020

Nigerian oil block dispute to settle

The Nigerian National Petroleum Corporation (NNPC) has agreed preliminary settlement terms for a long-running tax dispute with two investors in an offshore oil and gas block that gave rise to a pair of under-the-radar arbitrations.

20 August 2020

ICSID to hear first treaty claim against Denmark

A Lithuanian businessman is proceeding with the first known investment treaty claim against Denmark at ICSID, after he was unable to reach a settlement with the state over the damage allegedly caused by protestors at a construction site in Copenhagen.

19 August 2020

Telecoms investor takes on Costa Rica

A Venezuelan investor has brought an ICSID additional facility claim against Costa Rica seeking at least US$25 million for the alleged expropriation of his mobile phone distribution business.

19 August 2020

Consulting firm appeals discovery for treaty dispute

A US consulting firm and its CEO have appealed a New York court’s order requiring them to produce evidence in aid of a Russian fund’s investment treaty claim against Lithuania, arguing the proceeding is akin to an international commercial arbitration for which recent case law has confirmed discovery is not permitted.

18 August 2020

Switzerland will face first ICSID claim

A Seychelles entity has made good on its threat to bring a US$300 million treaty claim against Switzerland on behalf of Italian property investors, the first ICSID case the state has ever faced.

18 August 2020

Veon subsidiary seeks to revive Canada claim

An Egyptian subsidiary of Dutch telecoms group Veon has applied to ICSID to revive a US$1.8 billion bilateral investment treaty claim against Canada that was dismissed on the merits earlier this year.

17 August 2020

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