Region: Europe

Hungary fails to upend another intra-EU BIT award

An ICSID committee has upheld a €5.2 million award in favour of a Portuguese cake and biscuit producer against Hungary, ruling that it is not bound by the European Court of Justice’s ruling on intra-EU bilateral investment treaties in the Achmea case.

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

Suez gets eco park dispute sent to LCIA

A UK court has ruled that a claim against France’s Suez over delays in the construction of a £103 million “eco park” for waste processing in southeast England should be heard in LCIA arbitration.

19 July 2021

PDVSA award reinstated despite corruption allegations

The Dutch Supreme Court has reinstated an ICC award against a subsidiary of Venezuela’s national oil and gas company PDVSA that was set aside two years ago on grounds of corruption.

16 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claim against entities beneficially owned by Israeli billionaire Beny Steinmetz to claw back some of the proceeds of a rescinded mining deal in Guinea.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

Lone Star brings ICC claim against Spanish bank

US private equity group Lone Star Funds is pursuing an ICC claim against Spain’s third-largest bank to compel it to repurchase €257 million in real estate assets.

15 July 2021

China to face the music over jazz festival

A Swiss investor has made good on his threat to file a treaty claim against China after his company was stripped of the rights to run an annual international jazz festival on the island of Hainan.

13 July 2021

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