Region: Europe

“Grand corruption”: Dutch panel rules against dos Santos

UPDATED WITH AWARD: A Dutch-seated tribunal has ordered an entity owned by billionaire Isabel dos Santos to return shares worth over €650 million to Angola’s national oil and gas company, ruling they were acquired illegally.

27 July 2021

Italian utility liable for breaching environmental guarantees

A Belgian chemicals producer says it has won a €90 million ICC award against an Italian utility over breaches of environmental guarantees concerning the billion-euro sale of two industrial plants.

23 July 2021

Luther promotes counsel in Hamburg

Tim Rauschning, who represented Sweden’s Vattenfall in its almost €6 billion ICSID claim against Germany over the country’s phase-out of nuclear energy, has been promoted to counsel at Luther in Hamburg.

23 July 2021

Manchester City loses appeal over transparency in financial probe

Football club Manchester City has failed to block publication of arbitration-related court rulings shedding light on the English Premier League’s still-pending investigation of its financial dealings.

22 July 2021

Latvian banker seeks to revive Kyrgyz award

A Latvian businessman is seeking to overturn a landmark French court ruling on corruption and reinstate his investment treaty award against Kyrgyzstan, GAR has learned.

22 July 2021

Italy as a seat?

Speakers at an event to mark the launch of a new English-language treatise on Italian arbitration by ArbLit partner Massimo Benedettelli hailed the jurisdiction’s favourable approach to arbitration.

22 July 2021

Poland declares win in heat and power dispute

Poland says it has defeated an Energy Charter Treaty claim worth almost €90 million brought by a group of investors in a project to use natural gas to generate combined heat and power.

21 July 2021

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

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