Premium article - December 14, 2012
The past six months have seen the formation of 18 ICSID panels and one conciliation commission, and multiple appointments for Chilean arbitrator Francisco Orrego Vicuña, Australian Zachary Douglas and Costa Rican Rodrigo Oreamuno.
Premium article - November 16, 2012
An UNCITRAL claim brought by London-listed mining company Oxus Gold against Uzbekistan has survived a preliminary jurisdictional challenge, as it is revealed that White & Case has replaced the collapsed Dewey & LeBoeuf as counsel to the state.
Premium article - November 02, 2012
Canada's Pacific Rim Mining Corporation is to fund the remainder of its ICSID arbitration with El Salvador using the proceeds from a private placement of shares agreed with Australian gold miner OceanaGold.
Premium article - October 19, 2012
Matthew Weiniger and Andrew Cannon of Herbert Smith Freehills in London report on a recent ICSID annulment committee decision affirming the principle that security for costs may only be issued in "extreme circumstances".
Premium article - October 10, 2012
Ecuador made a last-ditch attempt to disqualify one of Occidental's expert witnesses on the ground that he was acting with the company's lead counsel in another case against the state, last week's ICSID award reveals. The state argued in November 2011 that the tribunal "should not give any credibility" to the expert evidence of Ecuadorean lawyer Hernán Pérez Loose, a partner at Coronel & Pérez in Guayaquil, because he had started working as co-counsel with David W Rivkin of Debevoise & Plimpton in...
Premium article - October 08, 2012
Ecuador says it will apply to annul a US$1.8 billion ICSID award rendered in favour of the US's Occidental Petroleum - thought to be the largest sum ever awarded in an investment treaty case. Attorney general Diego García confirmed today that Ecuador would seek annulment and a stay of enforcement, citing "irregularities" in the decision. President Rafael Correa told reporters, "We are used to confronting these abuses, these obstacles, and will continue defending the interests of the country." On...
Premium article - October 05, 2012
In a keenly anticipated decision, a majority ICSID panel chaired by Canadian Yves Fortier has ordered Ecuador to pay Occidental Petroleum US$1.8 billion - thought to be around US$2.3 billion with interest - for the cancellation of a 30-year oil concession.
Premium article - September 25, 2012
An ICC conference in New York considered arbitration with states and state entities under the institution's rules and emerging issues in investment arbitration. Louis Russo, associate at the host law firm, Winston & Strawn, reports.
Premium article - September 03, 2012
South Sudan has been an independent state for little more than a year and only signed the ICSID Convention in April - but it is already facing a claim from the national oil company of its northern neighbour, Sudan.
Premium article - August 14, 2012
Australian arbitrators Michael Pryles and Gavan Griffith QC have joined business leaders in petitioning Australia's prime minister to reverse her decision to exclude investor-state dispute settlement provisions from future free-trade agreements. The Australian Chamber of Commerce and Industry published the letter, which is co-signed by 16 arbitration practitioners, academics and industry association representatives. They warn that the government's policy is "flawed" and risks undermining Australian...