Region: Europe
Iraq declares win against Turkey over Kurdish oil exports
An ICC tribunal has awarded just under US$1.5 billion to Iraq in a decade-long dispute with Turkey over crude oil exports from the semi-autonomous Kurdistan region.
27 March 2023
Dutch investor turns to Latvian courts over animal fur ban
A Dutch investor says it will bring a €56 million claim against Latvia in the country’s courts over a ban on mink fur farming – deciding against pursuing an intra-EU bilateral investment treaty case.
27 March 2023
Will Switzerland face treaty claims over Credit Suisse?
Bondholders are said to be considering potential investment treaty claims against Switzerland after learning they stand to lose US$17 billion through the takeover of Credit Suisse by UBS.
24 March 2023
Roadbuilders try to revive ICSID claim against Kuwait
Rizzani de Eccher and its partners have applied to revive an ICSID claim against Kuwait over a billion-dollar road project – as the Italian contractor defends a seizure order granted in aid of a €60 million arbitration against Russia’s Gazprom.
24 March 2023
Argentine arbitrator challenged over Venezuela appointments
A UK election technology investor has applied to disqualify arbitrator Raúl Vinuesa from hearing a US$1.5 billion ICSID claim against Venezuela, alleging that his repeat appointments by the state raise doubts about his impartiality.
23 March 2023
Spain fails to annul hydropower award
An ICSID committee has upheld a €31 million Energy Charter Treaty award won by European hydropower investors – finding that the “correctness” of the tribunal’s application of EU law was not within the scope of its review.
23 March 2023
Ukrainian bank’s billion-dollar award against Russia surfaces
A Ukrainian state-owned bank has applied to a US court to enforce a US$1.1 billion investment treaty award against Russia, putting the award in the public domain.
22 March 2023
Germany denies ECT protections to Russian investors
Germany has invoked the Energy Charter Treaty’s denial of benefits clause in an apparent bid to forestall claims by Russian investors over measures taken in response to the war in Ukraine.
22 March 2023
Norway faces third snow crab claim
A third Baltic fishing company has brought an ICSID claim against Norway over rights to fish for snow crab, under a treaty that is just days away from being terminated.
22 March 2023
KPMG barred from snow crab case at ICSID
An ICSID tribunal has barred KPMG from advising Norway in a €400 million dispute over snow-crab fishing because of a “clear conflict of interest” – while refusing to disqualify Norwegian firm Wikborg Rein from acting for the state.
21 March 2023