News
Tax fraud leads to partial set-aside of treaty award
The Paris Court of Appeal has wiped more than US$126 million off an investment treaty award against Venezuela after finding that it compensated the claimants for payments that had contributed to a tax evasion scheme in Chile.
03 November 2023
Spain found liable to wind power investor
An ICSID tribunal has held Spain liable for breaching a Luxembourgish wind power investor’s legitimate expectations that the state’s renewable energy subsidy regime would remain unmodified.
03 November 2023
RWE to withdraw ECT claim against Netherlands
German energy company RWE is withdrawing its Energy Charter Treaty claim against the Netherlands over coal phase-out legislation – months after a German court ruled it was inadmissible.
03 November 2023
Malaysian practitioner goes solo as arbitrator
After 33 years of mainly counsel practice at a firm she founded with the former Attorney General of Malaysia Tommy Thomas, Kuala Lumpur-based practitioner Sitpah Selvaratnam is retiring to become a full-time independent arbitrator.
03 November 2023
Ukrainian energy company reports win against Russia
Ukraine’s largest private energy company says it has won US$267 million in an investment treaty claim against Russia over assets seized following its occupation of Crimea.
02 November 2023
New leadership at Chilean centre
Chilean academic and arbitrator María Agnes Salah has taken over as president of the Arbitration and Mediation Center of the Santiago Chamber of Commerce, replacing Manuel José Vial.
02 November 2023
Steelmaker wins Singapore asset freeze after LCIA award
Luxembourg-based steelmaker ArcelorMittal has obtained a Singapore freezing order worth over €150 million against British billionaire Sanjeev Gupta’s Liberty House Group as part of efforts to enforce an LCIA award.
02 November 2023
Cameroon fails to prove arbitrator had pro-investor bias
The Paris Court of Appeal has rejected Cameroon’s challenge to an €18 million ICC award in a 16-year saga over a farm leasing contract, finding the state had not proved that tribunal chair Horacio Grigera Naón was biased in favour of investors.
02 November 2023
“Unjust, undemocratic and dysfunctional”: UN report slams ISDS
A UN report has severely criticised the impact of investment arbitration on climate action and human rights – calling it “not fit for purpose in the twenty-first century” and recommending states withdraw their consent to arbitration under investment treaties.
02 November 2023
Mayer Brown hires from A&O
Sarah Garvey, who has advised Lesotho in a dispute over a stalled solar project, has left Allen & Overy to join the partnership of Mayer Brown in London.
02 November 2023