Work Area: Investor-state arbitration

Ecuador ratifies ICSID Convention

Ecuador has ratified the ICSID Convention, sealing the state’s return to the treaty that it denounced over a decade ago.

20 July 2021

Kosovan power plant claim discontinued at ICSID

A British power company’s €20 million ICSID claim against Kosovo over a scrapped power plant has been discontinued, with the parties agreeing to take the dispute to another forum.

20 July 2021

Solar award triggers EU state aid probe

The European Commission says it has begun an in-depth investigation to assess whether a €101 million Energy Charter Treaty award requiring Spain to compensate investors for changes to its renewable energy subsidy regime accords with EU state aid rules.

19 July 2021

Sachs stays on ICSID panel after removal from parallel case

ICSID has rejected a port investor’s bid to disqualify Klaus Sachs from hearing a claim against Georgia, after the German arbitrator was removed from an overlapping ICC case.

19 July 2021

Brazilian miner’s claim against Steinmetz entities can proceed

The Court of Appeal in London has ruled that an LCIA award does not preclude Brazil’s Vale from bringing a US$500 million claim against entities beneficially owned by Israeli billionaire Beny Steinmetz to claw back some of the proceeds of a rescinded mining deal in Guinea.

16 July 2021

Vedanta reports win against Zambian state entity

Vedanta Resources says it has won an award affirming that a Zambian state-owned entity has breached an arbitration agreement by seeking the liquidation of their copper-mining venture.

16 July 2021

Discovery order for Baltic treaty claim upheld

A US appeals court has upheld an order requiring consulting firm AlixPartners and its CEO to produce evidence in aid of a Russian fund’s investment treaty claim against Lithuania – concluding that the arbitration is a proceeding before a foreign tribunal for the purposes of US discovery law.

16 July 2021

Ecuador: one step closer to ICSID ratification

Gary Born and Soledad Peña Plaza of WilmerHale in London consider a “remarkable” recent decision by Ecuador’s Constitutional Court that the country’s ratification of the ICSID Convention does not require the approval of its National Assembly.

16 July 2021

Drymer disqualified over dual appointments

Venezuela has dislodged Canadian Stephen Drymer as arbitrator in an UNCITRAL claim on the basis that he is also hearing a related ICSID case – prompting the state to file further challenges against him.

15 July 2021

Caribbean appeal court can’t grant interim relief against Pakistan

The Eastern Caribbean Court of Appeal has ruled it has no power to grant injunctive relief against Pakistan at the request of an ICSID creditor when a lower court’s finding that the state enjoys immunity has not been set aside.

15 July 2021

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