Work Area: Investor-state arbitration

Stay of Yukos awards upheld in London

A London court has rejected an application by the former majority shareholders in Yukos to lift a stay of enforcement over their US$50 billion awards against Russia, ruling they must wait until the Dutch Supreme Court rules on the state’s set aside bid.

14 April 2021

DP World seeks damages over Djibouti port seizure

UAE logistics group DP World is demanding US$210 million in an LCIA claim against Djibouti after the state refused to hand back control of a major port facility on the Red Sea.

13 April 2021

Colombian power company brings claim against Chile

A Colombian state-owned power company has filed an ICSID claim against Chile over the construction of a major electricity transmission line.

13 April 2021

Rio Tinto settles feud over funding of Mongolian project

Canadian miner Turquoise Hill Resources has settled an arbitration with its majority shareholder Rio Tinto concerning US$2.3 billion in funding for a troubled copper and gold project in Mongolia, while an investor-state claim over tax measures continues.

12 April 2021

New ICSID claim against Burkina Faso

A Mauritian investor in explosive products has filed an ICSID claim against Burkina Faso – the first case the state has faced at the centre in more than 20 years.

12 April 2021

Ecuador faces ICC claim over mining project

Chile’s state-owned copper company has filed an ICC claim against Ecuador over the alleged failure of its national mining company to develop a multibillion copper project near Quito.

09 April 2021

Past and present ICJ judges welcome curb on moonlighting

Former International Court of Justice judge Bruno Simma has welcomed a move by the court to prevent judges moonlighting as arbitrators in investor-state cases, saying “there was a danger to the reputation of the court which was countered at the right time, the right moment”; while new judge Georg Nolte said the work of the court is “so intense” that taking on more is not a good idea.

09 April 2021

Nicaraguan avocado dispute ripens at ICSID

A US company has filed a US$590 million ICSID claim against Nicaragua over its investment in an avocado plantation that was allegedly destroyed by armed paramilitary forces.

07 April 2021

Mexico threatened over sugar mill bankruptcy

A US agribusiness investor and JP Morgan have threatened Mexico with a NAFTA claim after they were unable to seize property owned by a local sugar mill business that had defaulted on two mortgages.

07 April 2021

Steelmaker enforces second award against Venezuela

A US court has enforced a US$253 million ICSID award against Venezuela, the second of two awards won by a Luxembourg steelmaker following the nationalisation of the country’s steel industry.

07 April 2021

Get unlimited access to all Global Arbitration Review content